Home Finance, a division of FNB which specialises in property finance has been recognised with a Govan Mbeki award for its sterling contribution in helping to tackle the housing gap in South Africa.
The award follows the successful partnership with Sasol’s Housing Scheme to help address key housing challenges faced by Sasol employees in Mpumalanga.
To date, 40% of these families have benefited from this hybrid offering of a home loan and government subsidies valued at over R4 million through the Finance Linked Individual Subsidy Programme (FLISP).
Lee Mhlongo, CEO of Home Finance at FNB says receiving this prestigious accolade is testament to the fulfillment of our ongoing pledge to help millions of South Africans put a roof over their heads.
South Africa’s housing challenge calls for stakeholders to radically rethink the delivery of housing through deeper collaboration among sectors and communities.
“Access to housing is a matter of national importance and requires collective contribution from various stakeholders to create more opportunities for first-time buyers to own their dream homes,” says Mhlongo.
FNB’s employer-backed partnerships have created an environment where together with corporates they reach more consumers and provide them with sustainable access to homes.
Furthermore, FNB believes that FLISP plays a significant role in helping first-time home buyers qualify. For instance, first time home buyers who earn a household income between R3 501 and R15 000 per month currently qualify for FLISP subsidies ranging between R20 000 to R87 000 once off provided that they haven’t benefited from a government subsidy before.
We are looking forward to many more projects where we can collectively address housing needs not only in Mpumalanga, but in all South African provinces,” says Mhlongo.
The Govan Mbeki Awards in collaboration with the Department of Human Settlements aim to recognize outstanding performance from various stakeholders in the delivery of housing projects in South Africa.