SOCIAL HOUSING KEY TO SA’S ECONOMIC GROWTH

SOCIAL HOUSING KEY TO SA’S ECONOMIC GROWTH

12 February 2021 Social housing remains a strategic priority for the government of South Africa, particularly as the country forges ahead with re-vitalising its economy.

President Cyril Ramaphosa indicated during his State of the Nation Address on Thursday, 11 February, the importance of the Economic Reconstruction and Recovery Plan and highlighted four key priorities – which included the massive rollout of infrastructure throughout the country, and employment stimulus to create jobs and support livelihoods.

“This reaffirms the commitment of the government to improve the livelihoods of its citizens by focusing on infrastructure delivery, which underpins the success of a strong, growing economy,” explains Rory Gallocher, CEO of the Social Housing Regulatory Authority (SHRA).

The President emphasized the need to work together as government, business, and labour “to clear away the rubble and lay a new foundation.”

Gallocher concurred and states that the current crisis in South Africa, and the weighing fiscal deficit, emphasizes the need for all stakeholders and investors to be even more proactive in ensuring the delivery of social housing. “I encourage public and private investors and funders to get involved in the projects that the SHRA is currently underway with. Social housing development presents an amazing opportunity to drive socio-economic activity.”

The SHRA, which is an agency of the Department of Human Settlements, Water and Sanitation, aims to achieve 30 000 housing units by the end of government’s Medium Term Strategic Framework. It requires funders and delivery partners to assist in implementing its social housing mandate.