Government working to make home loans affordable, Dr. Scott tells Oxford University Pan-African Conference

Vice-President Dr. Guy Scott has told a Pan-African conference organized by the Oxford University Union that Zambia is seeking to create opportunities for young Zambians to access affordable mortgages in a bold move designed to reduce the housing deficit in the country.
Delivering a keynote address at the Oxford University-Africa Society “Pan-African Conference 2013″ themed “Towards a 21st Century African Renaissance”, Dr. Scott said the lack of access to affordable loans for decent homes has led to many young people entering the labour market to live in sub-standard accommodation for which they pay rents perpetually.
The Vice-President said the high interest rates banks charged on home loans hindered people’s access to affordable housing.
“The interest rates charged on homes here (Britain) are almost negligible and therefore people are able to get home loans even before they complete their postgraduate studies,” Dr Scott said.