Buy-A-Brick seeks to double funding to help build houses for low income home owners
The third Standard Bank Namibia’s Buy-a-Brick initiative wants to mobilise funds to the tune of N$4 million next year. The initiative which helps build houses for low income earners to address the housing shortage, was launched last week.
For the year 2016/2017, N$2 million was raised for the initiative to build 50 houses in Havana, Berseba and Otjinene.
“The new target is to raise double the amount next year. We want to make an effort to double the amount raised the previous year for the following year because that will double the amount of houses that will be built. I hope we will be able to raise enough to build at least 100 houses next year, to achieve the Buy-a-brick objectives,” Vetumbuavi Mungunda, the bank’s Chief Executive said at the launch.
The initiative is done in conjunction with the Shack Dwellers Federation of Namibia (SDFN).To date, the federation’s membership stands at 22,300 people with a little over 700 groups who have saved over N$25 million. Donations to the initiative can be made from as low as N$5 and can be made at any Standard Bank branch.
The Minister of Urban and Rural Development, Hon Sophia Shaningwa, who also attended the event highlighted that the provision of and access to decent housing is one of the key development priorities as encapsulated in vision 2030, the National Development Plans and the Harambee Prosperity Plan.
“The Shack Dwellers Federation’s solution to housing is unique and really worth supporting in the sense that it is a case of the community itself taking action to address its own developmental needs. This is a clear testimony of sustainable and people-centred development and I hereby pledge our continued support. I therefore applaud the Buy-a-Brick initiative and particularly the brains behind it for putting their energy and money where their mouths are. I invite other business and corporate citizens to join forces in supporting this noble cause,” she said.