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stablished to finance affordable
housing and leverage funding
from the private sector, the GPF
provides concessionary funding and
partners with finance institutions,
stakeholders and property develop-
ers to roll out housing opportunities
across the residential spectrum.
The provincial entity is headed up
by CEO Boni Muvevi, who says there
is no doubt that there is growing
demand for rental and affordable
housing and in certain areas demand
outstrips supply. The returns in this
segment of the market are much
higher than the commercial market.
His down-to-earth, practical ap-
proach starts with good governance,
guidelines and sustainability. The
GPF embodies a culture of uplift-
ment and providing opportunities
for growth within the company while
fulfilling itsmandate. A focus on skills
development has led to negligible
staff turnover. Muvevi believes in
making people care about the work
and this has certainly paid off.
Over the years, the GPF has re-
ceived many accolades for flagship
projects that continue to shine and
serve the rental market. Many of the
inner city residential developers who
partnered with GPF in the early years
are now well established market
players.
In the past three or four years,
the GPF has focused on developing
new BEE property entrepreneurs, a
programme that has steadily grown
and reaped rewards. The establish-
ment of the Entrepreneur Empower-
ment Property Fund (EEPF) aimed
Gauteng Partnership Fund’s executive team is filled with
passionate people, all of whom have the credentials, drive
and ambition to deliver housing opportunities on behalf of
the Gauteng Department of Human Settlements.
GPF – Partner of Choice
at entry level black owned property
companies started with 11 housing
projects now there are 94, with more
in the pipeline.
Muvevi says the GPF has been on a
big capital raising drive in the capital
markets; this includes senior debt
and concessionary funding. GPF is
also in the process of setting up an eq-
uity fund. “We are quite aggressive as
wewere set up to provide solutions to
funding challenges for Gauteng, and
took a decision to look for strategic
partners in the housing sector.”
“We are able to manage funding
from any investor, donor, conces-
sionary debt and we can redirect it
to appropriate projects. This is the
key competence we are able to bring
to the fore to ensure that a project
goes through a proper investment
process, informed by our governance
structure, due diligence, investment
committee and board of trustees, as
well as government structures that
allow us to maintain proper control
in terms of finance disciplines,” says
Muvevi.
GPF takes great pride in having
continuously achieved clean audits
in the past ten years. Says Muvevi,
“This is key for organisations in the
financial industry and in managing
other institution’smoney. We demon-
strate this ability in terms of quality
projects and appropriate returns for
our investors. With bad debt at 0,2%
in this challenging environment, the
repayment risks aremuch lower than
what people perceive.”
Ensuring that investors and de-
velopment finance institutions can
1
Continued
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Boni Muvevi