National Building Society

What National Building Society does

National Building Society (NBS) is a Zimbabwean building society wholly owned by the National Social Security Authority (NSSA), a government state entity, established in 2016 and headquartered at Karigamombe Centre, 53 Samora Machel Avenue, Harare. NBS is chartered to address Zimbabwe's national housing backlog of 1.5 million units and operates as a hybrid mortgage lender and retail bank, delivering 636 housing units across projects including Adelaide Park, Stoneridge, Woodbrooke, Shurugwi, Amalinda, and Dzivarasekwa (a planned 500-unit scheme, NBS's largest). The society has expanded to 7 branches across Harare, Bulawayo, Gweru, Mutare, Masvingo, Chinhoyi, and Chiredzi, with 101-250 employees.

NBS's core technology stack centers on a digital banking platform supporting multi-currency (USD/ZWL) transactions through the NBS Transactor mobile app, USSD banking via *202#, and a separate Corporate Internet Banking portal. Proprietary features include a virtual bureau for online USD-to-ZWL currency switching, the NBS Instant Cash local forex remittance rail (US$2 per transaction, US$10 minimum), and the ZIPIT Smart Merchant payment platform with no equipment costs. The product set spans mortgage and housing finance, retail savings and personal loans (including a NSSA-backed pensioner facility up to $100,000), corporate and institutional banking (invoice discounting, asset finance, working capital, guarantees), treasury and money market offerings, and insurance products bundled with mortgages and underwritten by Champions Insurance.

NBS monetizes through interest income on its mortgage and loan book, transactional fees on remittances and corporate banking, commissions on agency banking (Western Union, World Remit, Small World, Senditoo), and bancassurance distribution. It serves four primary segments: retail/individual customers, corporate and institutional clients, SMEs, and diaspora customers, with niche personas for pensioners and students. Distribution is hybrid: 7 physical branches complemented by mobile app, USSD, internet banking, POS machines (ZimSwitch compatible), and branch-based remittance collection points. Subsidiaries include Greenkeys Realtors (PVT) LTD (real estate services, established 2024) and Lenderspark Finance. Disclosed financial milestones include ZWL 2.4 billion balance sheet size and ZWL 90.2 million surplus for the financial year ending June 2021, plus a first dividend declaration in October 2021 with a 30% payout ratio.

Name

National Building Society

Legal name

National Building Society Limited

Website

https://nbs.co.zw

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

National Building Society is a Zimbabwean building society, wholly owned by NSSA, that provides mortgage and housing finance, retail and corporate banking, diaspora remittance, and property services through 7 branches and digital channels across Zimbabwe.

Ownership category

akta.pro rank

Product category

Building Society

NAICS

Depository Credit Intermediation (5221), Finance and Insurance (52)

SIC

Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Housing & Urban Development Banks (Public) (FSABAKAG)

akta.pro secondary industries

National Housing Finance Agencies & Ministries (FSALAKAB), Building Societies (Mutual Mortgage/Retail Banks) (FSABAEAE)

Keywords

• Residential mortgage lending
• Housing finance
• Retail banking services
• Corporate banking
• Money transfer services

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Mortgage and Housing Finance: Long-term mortgage loans for residential property purchase, construction, and renovation. Core product line driving society's mission of affordable housing delivery.
2. Retail Banking Services: Personal loans, savings accounts, transaction accounts, and insurance products generating interest income and fee revenue.
3. Corporate and Institutional Banking: Relationship management, working capital facilities, asset financing, invoice discounting, and international banking services for corporate clients.
4. NBS Instant Cash Remittance: Foreign currency remittance service charging US$2 per transaction, lowest market rate. Available to both account holders and non-customers.
5. Money Transfer Services: Partnership-based remittance collection through Western Union, World Remit, Small World, and Senditoo, generating commission revenue.
6. Treasury and Investments: Money market products, foreign exchange services, and investment account offerings.
7. Insurance Products: Hospital Cash Plan, Mortgage Loan Insurance, Funeral Cash Plan, and Home Owners Cover through Champions Insurance partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

National Building Society (NBS) is a Zimbabwean building society that provides residential mortgage finance, retail and corporate banking, housing development, and remittance services. Its core offerings include home purchase, construction and renovation mortgages, savings and transactional accounts, personal and SME loans, corporate working capital and trade finance, dual-currency (USD/ZWL) banking products, and affordable forex remittance through its NBS Instant Cash service. The society also participates directly in housing development projects such as Stoneridge, Dzivarasekwa, and Glaudina, and operates real estate and finance subsidiaries (Greenkeys Realtors and Lenderspark Finance).

Differentiator

Problem solved

Functional benefit

Brands

• Greenkeys Realtors: Wholly-owned real estate subsidiary providing property sales, valuation services, property management, project management, and advisory services. Registered with EACZ and VCZ.
• Lenderspark Finance
• NBS Transactor
• Platinum Pavilion
• Ahoyi Student Account
• NBS Instant Cash

Products and services

• Mortgage Loans Long-term residential mortgage loans for home purchase, construction, and renovation offered to individual and diaspora borrowers with monthly repayments structured not to exceed 40% of gross monthly income and requiring a deposit.
• NBS Instant Cash Local foreign currency remittance service enabling senders and receivers to move USD across Zimbabwe through NBS branches at a flat US$2 transaction fee with a US$10 minimum transfer, available to both account holders and non-account holders.
• Dual Currency Debit Card Debit card linking ZWL and USD Local Nostro accounts that enables card swipes and payments for goods and services in either currency via Zimswitch.
• NBS Platinum Pavilion Premium banking segment for high-net-worth clients offering luxury banking services, dedicated Relationship Manager, affluent services, and a Platinum Pavilion Dual Currency Black Card.
• Corporate and Institutional Banking Dedicated banking division providing Relationship Management, Corporate Transactional Accounts, Investment Accounts, Working Capital Facilities, Bankers Acceptances, Agri Finance, Asset Financing, Value Chain Financing, Guarantees, and Invoice/Promissory Notes/Bills Discounting.
• NBS Hospital Cash Plan USD-denominated hospitalization insurance underwritten by Champions Insurance that pays a daily USD100 cash benefit (after a 48-hour waiting period) starting from a USD1 per month premium, with cover extendable to unlimited dependents.
• NBS Funeral Cash Plan Funeral insurance product that provides a lump sum cash payout to cover end-of-life expenses for the policyholder and registered family members.
• Pensioners' Personal Loan Personal loan facility backed by NSSA monthly pension payouts, providing up to 10 times gross monthly pension (capped at US$100,000) for income-generating projects such as poultry, horticulture, and carpentry, with 48-hour processing.
• Ahoyi Student Account Bank account designed for tech-savvy tertiary students, offering pay-as-you-use charges and digital banking access for school fees management.
• Greenkeys Realtors Wholly-owned real estate subsidiary of NBS providing property sales, valuation, property management, project management, and advisory services, registered with EACZ and VCZ.
• Stoneridge Park Properties Completed NBS-funded housing development in Harare offering vacant stands from US$9,350 (cash) to US$19,159 (mortgage) and 3-bedroom units from US$29,700 (cash) to US$37,800 (mortgage), prices excluding VAT.
• Glaudina Housing Flats Two-bedroom flat apartments at the Glaudina housing development in Harare, ready for occupation from February 2025 and available for purchase through diaspora mortgage financing.
• NBS SME Fund SME financing fund launched in partnership with NSSA providing dedicated capital support for small and medium enterprises to complement order financing, bank guarantees, asset finance, and invoice discounting.
• NBS Transactor Mobile Banking App Mobile banking application for retail and SME customers supporting balance enquiry, ZIPIT transfers, RTGS transfers, wallet access, bill payments, airtime purchase, dual currency (USD/ZWL) functionality, and virtual bureau for USD-to-ZWL currency switching.
• Invoice Discounting Facility Working capital facility that enables SMEs to convert unpaid customer invoices into immediate cash, providing flexible funding for business operations.

Quantifiable outcome

• 636 housing units delivered across Zimbabwe since inception
• +3 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered supporting and core.

• UNDP (United Nations Development Programme)supportingStrategic or Co-development Partner · 1 January 2025NBS participated in UNDP training focused on integrating Sustainable Development Goals (SDGs) with Social and Environmental Standards, enhancing sustainability efforts.
• Greenkeys RealtorscoreStrategic or Co-development Partner · 1 January 2024Wholly-owned real estate subsidiary established in 2024 to provide expert property services including property sales, valuation, management, project management, and advisory services. Registered with EACZ and VCZ regulatory bodies.
• Seed CocoreStrategic or Co-development Partner · 7 June 2022Partnership for employee assisted housing scheme delivering homes to Seed Co staff through the Knockmalloch housing project in Norton. Lafarge also partnered to supply building materials for the project.
• LafargesupportingStrategic or Co-development PartnerBuilding materials supplier for Knockmalloch housing project, partnering with NBS and Seed Co to deliver affordable housing to employees.
• Western UnioncoreChannel Partner/ Reseller/ DistributorGlobal money transfer service allowing clients to send and receive money worldwide through NBS branches. Added as remittance partner in February 2025 to enhance diaspora service offerings.
• World RemitcoreChannel Partner/ Reseller/ DistributorInternational money transfer partner enabling clients to receive remittances from abroad at NBS branches.
• Small WorldsupportingChannel Partner/ Reseller/ DistributorMoney transfer partner for diaspora remittance collection through NBS branch network.
• SenditoosupportingChannel Partner/ Reseller/ DistributorMoney transfer partner for diaspora remittance collection through NBS branch network.
• ZINARA (Zimbabwe National Road Administration)supportingStrategic or Co-development PartnerPartnership for vehicle licensing compliance promotion (LicenseAndWin). NBS branches serve as licensing payment points while ZINARA provides the regulatory oversight for road user licensing.
• Champions InsurancecoreStrategic or Co-development PartnerInsurance underwriter for NBS Hospital Cash Plan, providing USD cash payouts for hospitalization. Partnership enables NBS to offer insurance products underwritten by a specialist provider.
• Banking Association of Zimbabwe (BAZ)supportingStrategic or Co-development PartnerNBS participates in BAZ PR and Communications Committee meetings, contributing to industry communication standards and banking sector development.
• Institute of Bankers Zimbabwe (IOBZ)supportingStrategic or Co-development PartnerProfessional banking institute. NBS participates in annual Interbank Quiz Night and professional development activities.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• ZB Building Society: Building society arm of ZB Financial Holdings in Zimbabwe; offers mortgage and savings products directly competitive with NBS in the housing finance space.
• CABS (Central African Building Society): One of Zimbabwe's largest building societies offering mortgage finance, savings, and transactional banking. Directly competes with NBS for housing finance, deposits, and the same Zimbabwean customer base.
• FBC Building Society: Zimbabwean building society providing mortgage and deposit products to retail and SME customers; one of the closest direct peers to NBS by product mix and target market.

Broad incumbents

• Shelter Afrique: Pan-African development finance institution providing housing finance and capacity building to member states; comparable impact-oriented, government-backed housing finance mandate across Africa.
• ZB Bank: Commercial bank in Zimbabwe offering mortgage products alongside full banking services; broader incumbent competing for the same retail, corporate, and SME customer base served by NBS.
• CBZ Bank: Largest commercial bank in Zimbabwe with a substantial mortgage and housing finance portfolio. Broad incumbent across all banking services that competes with NBS for corporate, retail, and housing finance customers.
• Stanbic Bank Zimbabwe: Subsidiary of Standard Bank Group offering residential mortgages, corporate banking, and full banking services in Zimbabwe; competes with NBS particularly for higher-end mortgage and corporate customers.

Emerging players

• Nedbank Zimbabwe: Affordable-housing-focused commercial bank in Zimbabwe offering mortgage products to underserved and emerging segments; comparable mission orientation to NBS's inclusive housing mandate.
• First Mutual Properties: Zimbabwean real estate company providing property development and property management services; comparable to NBS's Greenkeys Realtors subsidiary in real estate services adjacent to mortgage lending.

Regional players

• National Housing Finance Corporation (NHFC): South African state-owned development finance institution focused on affordable housing and human settlement finance; comparable state-backed housing finance mandate and developmental mission across the region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/share/1An9wB62Ga/?mibextid=wwXIfr
• LinkedInlinkedin.com/company/green-keys-realtors

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Building Society