To improve the housing situation of targeted rural households through their access to housing loans by providing wholesale finance and support to appropriate financial intermediaries to enable them to lend to low-income people.
Full Description of the mandate:
- Mandate aligned loan usage: building a new house, house extension, fixed improvement to a house, connecting to utilities (water, sewerage and electricity), energy efficient retrofits (including solar energy, insulation and other energy innovations), water harvesting, fencing, productive housing; purchasing of land by individuals or groups for residential purposes.
- Rural areas include: communal land, agricultural areas and adjoining areas, small towns—broadly defined the mandate is to focus on non-metropolitan areas.
- Low income currently set at maximum borrower income of R15, 000 per month.