Housing in Southern Africa July 2016

and Successes Achievements

The Board Industry heavyweights, renowned business and professional leaders, such as Eric Molobi and Prof Michael Katz, Nedbank’s Richard Laubscher, Dr Ian Goldin, CEO of the Develop- ment Bank of South Africa, Sizwe Tati, CEO of Khula Enterprise and other boardmembers fromNGOs and the public sector, worked together to create a self-sustaining development finance institution. “We effectively Continued ▶▶▶

Reconstruction and Housing Agency (Nurcha) was founded in 1995, and the NHFC in the following year. Moraba says the vision at that time was to seek new and better ways to mobilise financing for the low to middle income markets. Government’s role was to address this ‘market failure’ that the private sector was not serving. “Our role, though complementary to the private sector, was to take a greater risk and to develop markets where there was ‘market failure’.”

brought together all stakeholders under Joe Slovo, the first Minister of Housing in the new democracy, to address the backlog of housing with banks. From this first meeting the Hous- ing Forumwas also created, compris- ing practitioners and participants from identified segments of the housing markets that were not being adequately served. As a consequence, government decided to establish agencies to close the gap in this ‘market failure’. The National Urban

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