Its Africas Time Season 2 - Episode 6 - Citi story Social Impact Investing Breathes New Life Into The S.A. Gap Housing Market. In mid 2000 South African banking and development expert Soula Proxenos came up with a plan. She created a property fund which partners with South African building developers to create affordable housing and rental stock in the low income, gap housing sector. As the country moved into its new democracy, focus was understandably placed on the huge shortage of housing for the poorest of the poor. But what about those who fall beyond this sector, and who make up 30% of the population. They too want an opportunity to live a better life, in homes they can afford to own or rent, in well run urban apartment blocks or neat serviced suburbs. With global investors like Citi, Proxenoss $230 million South African Workforce Housing Fund has so far developed over 25 000 urban and suburban homes and apartments and is looking to expand the model into the rest of Africa. It’s Africa’s Time Season 2: Celebrating Inclusive Partnerships Across Africa. Telling the Good News Stories of Inclusive Business Across the Continent, “IT’S AFRICA’S TIME” is produced by Regency Foundation Networx, in partnership with the United Nations Development Programme - UNDP. bit.ly/1yj710H
Posted on: Wed, 03 Dec 2014 08:30:46 +0000
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