Home Loans South Africa

Housing Minister Outlines Plans


April 24 - While the housing backlog continues to grow in South Africa, the minister of housing, Tokyo Sexwale said that the government plans to spend up to R16 billion in the coming financial year in order provide homes to millions of the country's residents.

Sexwale said on Wednesday that the plan was to reduce the size of South Africa's slums considerably by 2014.

The minister said that up to a quarter of the population - 12 million South Africans - needed better shelter.

While the backlog stood at 1.5 million in 1994, that number stood at 2.1 million today.

Anger continues to build against the government by the millions of South Africans who are still living in shanties, despite the many promises and the end of apartheid over 16 years ago.

Sexwale hurried to reassure. "By 2014 we will have made significant inroads in our mission of ensuring sustainable human settlements and an improved quality of household life," he said.

The plans include building 220,000 houses a year for the next four years. The government also plans to buy 6,250 hectares of land for settlements and provide 600,000 new home loans in the cheap housing sector.

At present, many South Africans find it impossible to get home loans from banks due to their low income.

"Irrespective of what skeptics may say, the record of this government on housing delivery speaks for itself," said Sexwale. "Since 1994, more than 2.3 million housing units have been made available for nearly 11 million people.



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Tokyo Sexwale

4/30/2010 1:08:28 PM
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