Norufin together with RHLF as a major shareholder aims to be in line with the Government’s strategy to promote social equity and reinvest in the marginalized areas.
The RHLF is a world class rural housing financial sector development and wholesale lending institution that was founded to help address the housing needs of the rural poor, and to satisfy the challenge of financial sector development in rural areas advocated by the Strauss Commission.
An extract from the website of the Department of Housing.
The Government housing programme strives to meet the goals of economic growth, job creation and poverty alleviation for the poor.
Housing is one of the key deliverables in generating growth, employment and wealth. The Governments low cost housing programme does not only support the use of labour intensive methods, but also employs local labour and emerging contractors.
In order to ensure a better quality of life for all South Africans the Housing Department will continue to monitor the activities of the home building industry to ensure the transformation of the industry through the Constitution and such laws as the Labour Relation, Basic Conditions of Employment, Employment Equity and Skills Development Acts.
Despite the efforts of Government, the poorest of South African Households earn less than 10% of the total income earned by all South Africans, and the richest 10% earn more than half of the total income. With this, access to finance still remains the greatest challenge to low cost housing development. The Department aims to promote and attract adequate investment for growth and development for both the established and emerging sectors, to match ever-expanding government expenditure on social and economic infrastructure.
The Department needs to align investment strategies of the private sector with those of increasing the Fixed Domestic Investment to promote social equity and reinvestment in marginalized areas.