Boksburg: Human Settlements Minister Thembi Simelane has identified innovation in housing finance, integrated human settlements, and stronger partnerships as three key priorities for the National Housing Finance Corporation (NHFC) as it enters the next phase of South Africa's housing journey. Delivering a keynote address at the NHFC's 30th anniversary summit in Boksburg, Gauteng, on Friday, Simelane said the corporation has a critical role to play in accelerating access to affordable housing, amid continued demand and economic pressures facing households.
According to South African Government News Agency, Simelane emphasized that the NHFC's transition towards a Human Settlements Development Bank presents an opportunity for the institution to achieve greater autonomy and scale. She stressed the need for the transition to be completed efficiently and for the new institution to operate with the agility required by the housing market.
On the development of integrated and sustainable human settlements, Simelane stated that the government must move beyond the delivery of individual houses towards creating environments that connect communities to essential services, economic opportunities, and secure tenure. This approach includes integrating schools, clinics, roads, and recreational spaces alongside housing.
Simelane also highlighted the importance of partnerships, noting that the NHFC's success over the past three decades has been built through collaboration with financial institutions, developers, all spheres of government, and communities. She asserted that the government cannot address the country's housing challenge alone and that these partnerships must deepen.
The Minister further noted that the NHFC has facilitated more than R13 billion in housing finance and helped over 800,000 households access housing opportunities. Since 2019, the First Home Finance programme has approved more than 32,000 subsidies, disbursed close to R2 billion, and leveraged R10.9 billion in private sector investment.
Simelane acknowledged the First Home Finance programme's role in serving the 'gap market', which comprises households earning between R3,501 and R22,000 a month. The programme has been expanded to rural areas, with traditional leaders supporting its implementation and driving local development initiatives.
The NHFC's anniversary coincides with the 30th anniversary of the adoption of the Constitution, which recognizes the right to adequate housing. Despite progress, Simelane acknowledged that South Africa still faces a significant housing challenge, with a backlog of approximately 2.6 million people in need of housing due to rapid urbanization and economic pressures.
Simelane praised the NHFC's 30th-anniversary initiatives, including its Scholarship Fund, 30 Stories campaign, and digital archive, as demonstrations of the institution's commitment to preserving its legacy while investing in the next generation of housing professionals. She thanked the NHFC board, management, staff, private-sector, and civil-society partners for their contributions to expanding access to housing finance.
In conclusion, Simelane reaffirmed the commitment to translating the Constitution's promise of adequate housing for all into reality, emphasizing the collaborative effort needed to continue building the nation, one home at a time.