Sisulu meets with Banking Association to discuss partnership for affordable housing
The Minister of Human Settlements, Water and Sanitation Lindiwe Sisulu today, 10 September 2020 held a working meeting with the Banking Association of South Africa (BASA) to review the partnership that started in 2005 while identifying further areas of partnerships over the next few years.
The meeting focussed mainly on how the banking institutions can assist government to achieve its mandate of providing affordable housing by unlocking access to housing finance for low-to-medium income earners and first-time buyers through through the Financed Linked Individual Subsidy Programme (FLISP). Also discussed was a consumer education campaign aimed at empowering homeowners to look after and improve their properties and also support for those who are facing challenges in servicing their bonds and contractors who are currently unable to repay their loans.
“We have travelled a long journey with the banking sector; together we have restored the dignity of our people through the provision of decent shelter. Private sector involvement and funding have an important contribution to make in housing South Africa and supporting asset ownership” said Minister Sisulu.
“I am calling on all those who are facing difficulties to service their mortgages and construction companies which are struggling to service their loans to make arrangements with their banking institutions. BASA has on behalf of banking institutions committed to do everything they can to assist those in financial distress”, added Sisulu.
Minister Sisulu also used the opportunity to express her gratitude and further acknowledged the significant role the banking sector has played since 2005 in financing mega and catalytic projects such as Cosmo City and Fleurhof in Gauteng Province.
The Minister and BASA agreed that they will soon convene a lekgotla to finalise programme of action.
Enquiries:
Please contact Yonela Diko, Ministry Spokesperson
Cell: 076 724 3062
