Namibia launches Housing Trust Fund
New initiative targets low-income housing
The Namibian (Windhoek)
April 19, 2004
by Christof Maletsky
WINDHOEK--THE movement of thousands of people from rural to urban areas is placing a heavy strain on efforts to provide housing, Prime Minister Theo-Ben Gurirab said on Friday.
Launching the Housing Trust Fund in Windhoek, Gurirab said ever-increasing urbanisation affected the poor's ability to acquire financing of their own while financial services had shown a lack of willingness to fund low-income housing.
"This is a pressing challenge to all of us," Gurirab said.
The Housing Trust Fund was initiated by the National Housing Enterprise. The Namibia Red Cross Society, United Africa Group, Diaz Fishing and First National Bank Holdings have pledged their involvement.
Gurirab said the Fund would help the weak and needy to acquire houses.
He called on the Fund's trustees to work out criteria to ensure that the money was properly used to assist the homeless. "Admittedly, the Trust Fund is but a small step towards mitigating the plight of homelessness, which is one of the visible and humiliating legacies of the past," he said.
The organisers of the fund-raising dinner collected pledges of around N$137,000.
A suitcase used by the Prime Minister during his one-year
term as United Nations General Assembly President in New York
in 2000-01 was auctioned at the dinner and was bought by
businessman Haddis Tilahun for N$10,000.