Housing in Southern Africa

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Rural Development and Land
Reform Minister, Gugile Nk-
winti, says that the Banking
Association of South Africa is to invest
R1 billion every year in agri-parks to
revive rural economies.
This followed the Minister’s an-
nouncement at the Economic Sec-
tors, Employment and Infrastructure
Development Cluster that govern-
ment would contribute R2 billion to
support rural economies and create
industries in those areas.
“The Banking Association of South
Africa (BASA) will invest over the
next 15 years, starting this year with
R1 billion every year in land reform
initiatives. This is encouraging andwe
are working with them in developing
amodel for agri-parks,” said Nkwinti.
The Minister said the involvement
of the banking sector will further give
credibility to the agri-parks project as
government aims to ensure that poor
peoplework closer towhere they live,
instead of migrating to bigger cities
in search of economic opportunities.
Over the next 10 years, the country
will have a very different rural com-
munity, one which will stimulate
economic growth, enterprises and
industries.
He added, “It also provides us
with the opportunity to invest in the
underdeveloped side of the economy.
We want to spend more money in
Banks to invest billions in Agri-parks
44 rural districts, so that we can
transform the economy in those
areas, because it will provide job
opportunities.”
A total of 12 221 smallholder
producers were supported through
advisory services, training, technical
support and infrastructure fromApril
June 2015. ■
Housing