This development will be achieved through creating an earmarked R120-million concessionary loan funding pool controlled by Nedbank, which has a head office in Sandton.
The agreement will enable the development of sustainable green housing in the affordable housing market and will also include the monitoring of energy and water consumption in these units.
“Green affordable housing combines social and environmental sustainability to promote access of lower middle income individuals to better quality housing units with lower running costs,” said Manie Annandale, head of affordable housing development finance at Nedbank Corporate and Investment Banking.
Mohale Rakgate, general manager of project preparation unit development at the Development Bank of Southern Africa added, “Funding initiatives [created by] this partnership are meant to support South Africa’s efforts to move towards a greener economy which is a priority focus area for the Development Bank of Southern Africa’s Green Fund.”
With the introduction of these green houses, it is anticipated that a family of four living in a new two bedroom unit could save as much as R350 to R450 per month compared to an older conventional unit with no energy efficiency features.
The Green Fund is managed by the Development Bank of Southern Africa on behalf of the National Department of Environmental Affairs.
Details: enquiries@sagreenfund.org.za
