Affordable land and housing delivery boosted by N$5 million FirstRand Namibia investment
FirstRand Namibia through its Foundation injected N$ 5 million into the Development Workshop Namibia (DWN) Land and Housing Project which is aimed at delivering affordable serviced land to low-income individuals around the country.
DWN is a non-governmental organisation focused on sustainable urban development, informal settlements, and the disadvantaged communities that reside in them.
DWN works through partnership agreements with local authorities and in support of national development goals. They currently run four programmes that include Land & Housing, Urban Sanitation, Early Childhood Development (ECD) as well as Urban Infrastructure.
Speaking at the handover ceremony held last week, FirstRand Foundation Chairperson Clara Bohitile explained that the Foundation recognises that it has a responsibility to deliver both financial value and positive social outcomes for Namibians, a principle that was introduced as a strategic priority for the group in 2019.
“We understand that delivering shared value requires innovation, deep thinking, constant change, and unrelenting commitment. Our journey to that place began many years ago and our commitment to the destination is firm. We believe the outcome in properly partnering with others who ‘do what matters’ – has proven it consistently delivers value, both financial and social, and earns the trust of all our stakeholders,” she said.
RMBs’ support of DWN initiatives also paved the way for a new FNB loan scheme currently piloted in Oshakati and Okahao. Through this scheme, clients of the DWN/NCE Land and Housing Project are eligible for an FNB personal loan of up to N$ 50,000 and for a period between 24-48 months.
Her remarks were reiterated by FirstRand Namibia Chief Executive Officer (CEO) Conrad Dempsey who said that the provision of affordable land and housing delivery is the most meaningful catalyst for the creation of inter-generational wealth for Namibians.