The Minister of Human Settlements, Water and Sanitation, Lindiwe Sisulu is encouraged by the partnership between the National Housing Finance Corporation (NHFC) and the City of Cape Town to upgrade and maintain the City’s rental stock estimated at 57 000 units.
Minister Sisulu believes this partnership will go a long way in providing decent, secure and affordable accommodation to the people who live and have come to work in the City of Cape Town.
The main responsibility of the NHFC in this partnership is to provide finance and the appointment & management of the database of contractors and suppliers and to provide business and technical support to them. Accordingly, the NHFC has committed R150 million to this initiative.
The Minister is pleased that by July 2021 over 200 units would have been completed. This will provide decent and affordable accommodation to over 400 households.
“What NHFC is doing in the Cape Town Metro must be extended to other Metros. Our development finance institutions must commit their resources towards the revitalization of our inner cities and towards funding a mix of developmental projects to scale up social housing and affordable housing as well as student accommodation”, said Minister Sisulu.
“Our sector plays a key role in stimulating the economy to produce much needed jobs and opportunities in our delivery value chains, especially for the designated groups. This project will assist us to achieve urban restructuring, meet housing demand, create jobs and transform our communities”, added Sisulu.
Over the past few months Minister Sisulu has launched several social housing projects in Gauteng and Western Cape, with the latest being Anchorage in the City of Cape Town and the Kempton Village in the City of Ekurhuleni.
Minister Sisulu also challenged the NHCF, an agency of the Department of Human Settlements and funder of government national priority projects to reach out to qualifying households in the low-to-middle income market through their Finance Linked Individual Subsidy Programme (FLISP). The once-off financial assistance for qualifying beneficiaries range between R27 960 to R121 626.
Over the past twelve months NHFC has processed 2815 applications and of these, 2120 were approved. To date over R60 million has been disbursed to 1136 beneficiaries and this has triggered over R1 Billion home loan approved by banking institutions.
Enquiries:
Steve Motale
Ministry Spokesperson
Cell: 083 784 0719
Masego Maluleke
NHFC General Manager, Corporate Communication and Marketing
Cell: 082 469 8016
