New development bank will unite three housing finance institutions
A new human settlements development bank that amalgamates three development finance institutions involved in housing finance, is due to be launched on Friday. The three are the Rural Housing Loan Fund, the National Housing Finance Corporation and the National Urban Reconstruction and Housing Agency The launch will set in motion the operational integration of the three entities. Systems, personnel and products will be amalgamated. The director-general of the Department of Human Settlements, Mbulelo Tshangana, said at a media briefing on Thursday that the department did not want to hold back the operational integration pending the promulgation of the legislation (the Human Settlements Development Bank Bill). Tshangana, who spoke before Human Settlements Minister Lindiwe Sisulu, who delivered her budget vote speech in the National Assembly, was optimistic that Parliament would pass the bill by September. He said the bank was intended to cater for a wide range of market segments but pri...
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