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Nedbank CIB is involved in the Belhar Gardens affordable housing development in Cape Town. Picture: SUPPLIED
Nedbank CIB is involved in the Belhar Gardens affordable housing development in Cape Town. Picture: SUPPLIED

South Africa still has a large gap in the supply of affordable housing amid a rapid expansion in the number of these households over the past 15 years, but Nedbank Corporate and Investment Banking (Nedbank CIB) has accepted the challenge.

Manie Annandale, head of affordable housing development finance at Nedbank CIB, says: “Affordable housing in South Africa has really reached a crucial tipping point in the sense that a lot of the listed vehicles and development companies are now piling into affortable housing.”

He described it as a “class asset that’s become a lot more popular, especially with office space and retail space becoming a bit more glutted in this environment”.

In the video below, Annandale talks more about the state of affordable housing development in South Africa and the challenges and opportunities in this field. He also explains how financial institutions like Nedbank CIB are helping to meet the demand and backlog.

This article was paid for by Nedbank CIB.

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