GPF and NHFC partner to fund Affordable
Rental Housing Entrepreneurs
The Gauteng Partnership Fund (GPF) has partnered equally with the National Housing Finance Corporation (NHFC) on a R200 million Entrepreneur
Empowerment Property Fund (EEPF) programme aimed at HDI-owned companies pursuing rental housing opportunities in Gauteng. GPF and NHFC
formally entered into this co-funding agreement on 18 June 2012. The EEPF is an incubator programme designed to promote participation of black
entrepreneurs in the affordable rental property market.
T
he EEPF Programme was initiated as an intervention for the
In line with the provincial government objective of delivering 20 000
affordable housing market. Black property entrepreneurs have
rental accommodation units by the year 2014, GPF has committed in their
to date experienced a number of constraints in entering this
current strategy to the objective of facilitating funding for 6 000 of those
market. This partnership provides a funding solution to address
units. This calls for over R1.4 billion in funding resources, of which the
the capital gap experienced by these property entrepreneurs.
government will need to contribute about R470 million.
Global financial woes have unabatedly continued to pound on the
confidence of the banks to increase their quantum of funding in the
With the new partnership between GPF and NHFC, as well as the benefit
low end of the housing market and have continued to frustrate our
of experience, the provision of affordable accommodation makes
programmes. However, we have shown great resilience and innovative
economic sense and is therefore a good investment for entrepreneurs.
design capabilities in our funding models, said GPF CEO Kutoane Kutoane.
In its efforts to promote the sustainable entry of BEE participants in
ownership of medium density property in the inner cities, the NHFC has
partnered with GPF to enable the radical transformation of the affordable
rental property market, said Samson Moraba, CEO of the NHFC.
For further information on the EEPF programme, please contact
the Gauteng Partnership Fund (GPF) on (011) 685-6600 or email
Immaculate Shembe at [email protected].
Alternative K [