Thursday, February 14, 2013

SONA Ping: Half the amount spent on GAP vs Nkandla

Honourable Members, Distinguished guests & Homeless South African Citizens...

In last year's address we raised the issue of the gap market, the people who earn too much to qualify for an RDP house and too little for a bank mortgage bond.

From April 2012 to December 2012, Provincial Departments committed a budget of 126 million rand of the Human Settlements Development Grant for this programme, known as the Finance Linked Individual Subsidy programme.

The money is being used through the National Housing Finance Corporation, which has been appointed to deliver houses to people within the Gap market in twelve registered projects.

A total of 70 million rand of this amount has been used to date.

Projects include Walmer Link in the Eastern Cape, Lady Selbourne, Nelmapius, Bohlabela Borwa, Cosmo City and Fleurhof in Gauteng, Intabazwe Corridor Housing in the Free State and Seraleng in North West.

The implementation of these eight GAP housing projects is currently underway...

State of the Nation Address - SONA

1 comment:

The Subversive One said...

GAP is a con by which the banks are enriching themselves by selling government subsidised housing to the pooha for profit. It is all about a profit and selling the house for more than it was built for.