Old Mutual scraps payslip requirement for stand buyers

Old Mutual scraps payslip requirement for stand buyers
Published: 09 April 2018 (1608 Views)
OLD Mutual Group has scrapped the requirement for payslips on potential residential stand buyers at its Pumula South and Nkulumane housing project in Bulawayo.

The move seeks to cater for the growing informal sector players, who are now the dominant economic force in the country.

"There is no need for a pay slip as long as the buyer has all the requirements needed. These requirements include a national identity card, 30 percent deposit and one needs to be registered with the City Council and be on the housing list," said an Old Mutual official who requested anonymity.

The group has engaged private contractors to service the stands, pegged at various sizes and cost $20 to $30 per square metre. Beneficiaries under the scheme are to pay the balance over 12 months. Old Mutual executives recently unveiled 1 082 housing stands in Bulawayo. The stands are being serviced under a Public Private Partnership (PPP) agreement with the local authority.

Informal business operators have commended this move as it acknowledges them as a group which does not receive payslips at the end of the month.

"This is a good initiative because it includes everyone compared to the traditional method, which only accommodated those who provided payslips in order to receive services," said Mrs Nokholo Ndlovu, an informal trader.

"I am glad we are able to purchase stands as informal traders without the burden of having to provide pay slips, which we do not have. This has also given us a sense of recognition following the bank's realisation that there are informal traders like us who do not have payslips to offer as a requirement."

Old Mutual group chief executive officer Mr Jonas Mushosho is on record as saying the housing scheme was earmarked for the general populace at large, but it was also designed with small to medium traders in mind.

- chronicle

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Knox Mutizwa wins August Goal of the Month award

by kickoff | 05 November 2018 | 1049 Views

BREAKING: Gandawa on the run

by Staff reporter | 05 November 2018 | 2024 Views

Econet cannot distribute Kwese TV content to Zimbabwean viewers

by Staff reporter | 05 November 2018 | 1540 Views

Shoot-out robbers arrested

by Staff reporter | 05 November 2018 | 1568 Views

Mnangagwa ally warns economic saboteurs

by Staff reporter | 05 November 2018 | 1498 Views

Chamisa mobilises supporters for mass protests

by Staff reporter | 05 November 2018 | 1282 Views

LISTEN: Acie Lumumba speaks on how he got paid

by Staff Reporter | 05 November 2018 | 1062 Views

Dzamara speak on Zanu-PF fights

by Mandla Ndlovu | 05 November 2018 | 1027 Views

Minister Raj Modi Modi donates salary

by Mandla Ndlovu | 05 November 2018 | 881 Views

'I am a Trillionaire' Magaya says

by Mandla Ndlovu | 05 November 2018 | 1419 Views

Supermarkets to be blacklisted over cooking oil

by Mandla Ndlovu | 05 November 2018 | 842 Views

UK army to recruit from Commonwealth

by BBC | 05 November 2018 | 938 Views

Magaya opens up on arrest

by Mandla Ndlovu | 05 November 2018 | 951 Views

Kambarami is still 'Deputy Mayor'

by Mandla Ndlovu | 05 November 2018 | 786 Views

'Import ban must not go beyond December 21'

by Staff reporter | 05 November 2018 | 869 Views

Prophet Magaya puts fresh spin to arrest

by Staff reporter | 05 November 2018 | 897 Views

Chamisa's sign language interpreters get thumps up

by Staff reporter | 05 November 2018 | 882 Views

Mnangagwa to review Mthuli Ncube's 2% tax again

by Staff reporter | 05 November 2018 | 847 Views

Lumumba to be probed by ZAAC?

by Staff reporter | 05 November 2018 | 625 Views

Dzamara speak on ZANU PF fights

by Mandla Ndlovu | 05 November 2018 | 588 Views

Zimbabwe as a new gateway into Africa

by Minister of Finance Prof Mthuli Ncube | 05 November 2018 | 867 Views

Chiwenga's ex-wife looted millions

by Mandla Ndlovu | 05 November 2018 | 1257 Views

We are our own worst enemies

by Mapozho Saruchera | 05 November 2018 | 912 Views

Mnangagwa to deal with unexplained wealth and bank deposits

by Staff reporter | 05 November 2018 | 825 Views

WATCH: Chiwenga talks about Prophet Walter Magaya's lipstick

by Staff reporter | 05 November 2018 | 817 Views

Lumumba Saga takes new twist....War vets bay for Mutsvangwa's blood

by Mandla Ndlovu | 05 November 2018 | 882 Views

Chamisa demands Presidency

by Mandla Ndlovu | 05 November 2018 | 773 Views

Zimbabwean teachers miss out on New Zealand opportunity

by Staff Writer | 05 November 2018 | 720 Views

Zimbabwe to introduce e-provisional driver's exams

by Staff reporter | 05 November 2018 | 766 Views

Zimbabwe to supply water to South Africa

by Staff reporter | 05 November 2018 | 760 Views

Mnangagwa claims that 'good times will soon roll'

by Staff reporter | 05 November 2018 | 725 Views

Zimbabwe as a new gateway into Africa

by Hon. Prof Mthuli Ncube | 05 November 2018 | 862 Views

Chiyangwa appoint Karikoga Kaseke

by Staff reporter | 05 November 2018 | 726 Views

ZCTU demo: Ruling today

by Staff reporter | 05 November 2018 | 676 Views

Missing cop found dead

by Staff reporter | 05 November 2018 | 820 Views

Tagwirei marries long-time girlfriend

by Staff reporter | 05 November 2018 | 1282 Views

Zimbabwe relaxes maternity leave entitlement

by Staff reporter | 05 November 2018 | 792 Views

Zimbabwe to receive drugs, ambulances from India

by Staff reporter | 05 November 2018 | 710 Views