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Showing posts from May, 2011

Corruption claims halt housing project - Times LIVE

BusinessDay - FNB calls for state-backed mortgage insurance fund

BusinessDay - FNB calls for state-backed mortgage insurance fund

FIRST National Bank (FNB), the second-largest provider of affordable housing loans, yesterday called for the creation of a state-backed mortgage insurance fund to stimulate banks to increase funding for people who do not own homes.
In addition, the government should fund the construction of infrastructure and help to secure suitable land to build houses, particularly for the gap market of people earning between R3500 and R10000 a month.
These comments were made by the CEO of FNB Housing Finance, Marius Marais, in response to a target set by Human Settlements Minister Tokyo Sexwale for banks to grant up to 600000 housing loans in the next three years for this market. The people in this category either earn too much to qualify for a housing subsidy or do not easily qualify for mortgage loans from banks.
Mr Sexwale told the recent 43rd annual conference of the South African Property Owners Association in Cape Town that banks sh…

high unemployment - South Africa

PPC profit slumps 38%: The labour-intensive building industry is critical to Africa's biggest economy, which is struggling with a high unemployment rate

Johannesburg - Pretoria Portland Cement [JSE:PPC] reported a 38% drop in first-half earnings on Tuesday, hit by continued weakness in the country's construction industry.

PPC, South Africa's biggest cement producer, said headline earnings per share fell to 71.3c in the six months to end-March, compared with 114.3c a year earlier.
Headline EPS, the main measure of profit in South Africa, excludes certain one-time items.

South Africa's construction industry, which was shielded from the worst of the global economic crisis because of big World Cup projects, is struggling to bounce back as the government and private sector tighten purse strings.

The labour-intensive building industry is critical to Africa's biggest economy, which is struggling with a high unemployment rate.

Keywords - Africa struggling with a high unemp…

Not another brick in the wall

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Not another brick in the wall - Times LIVE

Not another brick in the wall
Innovative SA building method invited to prestigious US exhibition Apr 29, 2011 10:04 PM By JANA MARAIS

A South African designer has been invited to show his innovative plastic formwork technology for low-cost housing at the Smithsonian's Cooper-Hewitt National Design Museum in New York later this year.




Hennie Botes, who founded Port Elizabeth-based moladi in 1986, said the invitation to participate in the exhibition is a "phenomenal achievement. Going to New York to exhibit our technology is mind-blowingly exciting".

The exhibition, which will take place from October at the UN, will feature more than 60 projects from 22 countries around the world.
The exhibition, named Design with the Other 90%: CITIES, will explore design solutions to the challenges of rapid urban growth.
About a billion people live in informal settlements around the world, and it is estimated that this number will double by 2030.