20 / 40
2
Gauteng Partnership Fund (GPF) Chief
Financial Officer, Komathie Govender, the
astute and seasoned professional who
has been tasked with overseeing finance,
also chairs the internal investment advisory
committee tomonitor and evaluate projects.
GPF – Partner of Choice
Continued
▶▶▶
A
former member of the Auditor
General’s office, Govender has
administered the funds of the
GPF for the past nine years, ensur-
ing that it complies with regulatory
provisions, financial disciplines of
control and good governance in the
execution of its mandate.
With a target of 1 200 housing units
across the residential spectrum, the
provincial funder has raised over
R600 million in senior funding from
the market for most of its projects.
Govender says that the organisa-
tion was set up and organised by
the Gauteng Department of Human
Settlements to promote, secure
and optimise investment in the
social, rental and affordable housing
market. “We pride ourselves on be-
ing an entity of government that is
completely focused on delivery and,
Komathie Govender
in that delivery, we implement our
mandate in the most efficient man-
ner, as well as our comprehensive
policies, ISO accreditation and our
internal control structures.”
She quips that she is a bean coun-
ter, likes things to be perfect and runs
a clean administration. “We have
various products that havedeveloped
over the years inorder tomeetmarket
needs. One product is the emerging
Entrepreneur Empowerment Prop-
erty Fund, aimed at new entrants in
the market.”
The internal investment advisory
committee monitors and evaluates
projects. During construction and
post construction, the entrepreneur
will ultimately have to repay the
funds. If the entrepreneur experi-
ences some difficulties, the GPF will
assist. “There are a number of actions
safely invest in GPF’s capabilities,
good governance, compliance and
ingenuity, Muvevi continues, “One
of the things we did was to build a
team that is competent, so we have
the discipline and process that allows
us to perform our service delivery
mandate.”
For every unit that is vacated in
the City of Johannesburg there is a
waiting list. Of course investment is
not only about demand, says Muvevi.
The GPF also considers location. “The
right location makes it easier for ten-
ants to access schools, créches, shop-
ping centres and transport nodes.”
GPF’s target market is those with
a household income of up to R18 000
for the rental and affordable housing
markets. Social housing institutions
provide housing for income earners
who earn between R3 500 and R7 500
per month.
The demand for housing continues
to escalate and with the Minister of
Human Settlements, Lindiwe Sisulu,
announcing the roll out of a num-
ber of Catalytic Projects and mega
projects, the GPF is positioned as a
key player within the province. “One
mega project may require at least R6
billion funding andwe believe we are
an institution that can fund solutions.
It is a discussion we are keen on hav-
ing and are eager to get involved in
the challenge,” says Muvevi.
He cites the example of the EEPF:
“At the time of the entrepreneurs
fund’s inception, it was difficult to
get funding partners on board but
we took the decision to implement
the project. “We aimed to have 100
companies in the EEPF, even though
commercial banks did not have the
appetite. We know this is an area in
whichwe have to intervene to change
the property landscape and demo-
graphics. We partnered with the DTI
and are now one of the best perform-
ing incubation entities.” Property
entrepreneurs are nurtured, coaxed,
supported and supervised from the
first baby steps to full growth.
Muvevi concludes with the obser-
vation that in the United Statesmany
landlords who own small apartment
blocks have contributed much to the
residential market. “Imagine,” he
says, “What 5 000 small developers
could contribute!”
■