Fourth stage of Buy-a-Brick initiative launched
Standard Bank Namibia together with the Shack Dwellers Federation launched the Fourth Buy-a-Brick initiative late last week at the NamPower Convention Centre, with plans to scale up the initiative into a national project.
Vetumbuavi Mungundu, Chief Executive of the Bank said that plans are already in place to delineate the Buy-a-Brick initiative from Standard Bank to allow for more corporate participation, like MTC and Bidvest who have indicated interest in taking the project further.
“A new steering committee will soon be appointed to spearhead the task of mobilising funds and finding alternative building methods that would help in reducing the cost of building and the duration of construction,” he explained.
Thinus Smit, Acting Managing Director of MTC said the Buy-a-Brick initiative is arguably one of the most innovative, sustainable and successful campaigns that have ever been launched in the country. “MTC is proud to have been associated with this initiative this year with an investment of N$800,000 and I wish to commend the Shack Dwellers Federation network, who are visionaries, dedicated men and women who have decided to fight the housing crisis in Namibia,” he added.
The Buy-a-Brick Initiative has raised over N$7.1 million since its first launch in 2015 and the funds have been used to provide decent housing to 98 beneficiaries and their families in Rehoboth, Berseba, Otjinene and Windhoek. Another 101 new houses in Mariental, Otjiwarongo, Aminuis, Gobabis, Okongo are currently under construction.
Lack of decent housing continues to be one of the most contentious issues in Namibia which is currently facing a housing backlog of 100,000 a number which continues to grow by 3700 every year.