The Treasury’s plans to speed up the transfer of ownership of homes worth R180 billion ($15 billion) to about one million poor people from April,
granting them access to assets that could be sold or used as collateral, is a welcome and long overdue development.
It will broaden access to affordable housing for poor communities and can open a new housing market in South Africa, in other words, this is a positive form of expropriation without compensation with the potential of unlocking economic value and unleashing empowerment on a massive scale for South Africa’s disenfranchised.
The new land and home owners will be able to unlock the value in their properties to increase their wealth and start building a better future.
Peruvian economist Hernando de Soto, known for his work on the informal economy and on the importance of business and property rights, achieved through his Institute for Liberty and Democracy the handover of titles to an estimated 1,2 million Peruvian families on much the same premise.
De Soto’s widespread influence in the field of development resulted in successful reforms that also inspired major initiatives in countries such as Egypt, the Philippines, Honduras and Tanzania.
Workers are tired and weary of empty words and misleading promises. This transfer of property translates in the long-desired government action workers want to see. The economic circumstances of many will be bettered in the best interest of our country and its people.
For further enquiries or to set up a personal interview, contact Andre Venter at 083 251 3274.