The Free Market Foundation’s (FMF) Khaya Lam Land Reform Project announced that 1000 title deeds have already been presented since the project began in 2013.
This equates to injecting an estimated R100 million of much-needed capital into the local economy. The 1000 mark was recently achieved through the generous support of Rising Tide Foundation (RTF), Switzerland. RTF sponsored 100 fully-tradeable title deeds, turning registered tenants into proud property owners. This is a historic milestone in reversing apartheid-era housing conditions, says Perry Feldman from the FMF.
The RTF director, Eveline Mumenthaler said, ‘At Rising Tide Foundation, we are working for a better future, a future of greater freedom, opportunity and well-being.’
‘We believe that every one of us plays an important role in cultivating a rising tide of change and the FMF’s Khaya Lam project brings real change to communities. We are thrilled to have been in a position to sponsor the transfer of 100 title deeds, and also to have been part of the process in which this significant milestone has been achieved.’
FMF director, Jasson Urbach said, ‘Securing property rights is a concrete step towards creating a freer and more prosperous society. We are immensely proud of our project and rely on the generous support of individuals and foundations such as the Rising Tide Foundation to enable us to continue our work of ensuring that all municipal owned rental housing is transferred to its rightful owners.’
Under apartheid, black South Africans were forcibly removed from their land and were denied any opportunity to advance economically.
The FMF launched the Khaya Lam land reform project to fight this injustice and transfers title deeds from the government to tenants. The FMF’s Khaya Lam project helps turn “dead capital” into “dynamic capital” by empowering individuals with a valuable asset – full unambiguous title to their home, Urbach added.
An estimated 5 million homes nationwide now remain to be converted to full freehold title.
