FNB to boost government housing

2009-01-26 00:00

The provision of housing in the province received a shot in the arm yesterday when the KZN Department of housing and First National Bank signed a memorandum of understanding aimed at speeding up housing delivery.

The partnership will see millions of rands being pumped into the provision of houses for the people in the middle-income category. The bank has already pumped R300 million into existing housing projects.

Delivering an address during the signing ceremony held at Durban’s Inkosi Albert Luthuli International Convention Centre MEC for Housing, Mike Mabuyakhulu said the agreement would go a long way towards helping the department to diversify its options in its housing basket.

He said that while the government had a responsibility to provide houses to the country’s citizens, a lot could be achieved if government and the private sector pooled their resources together and worked towards a common objective.

FNB CEO Sizwe Nxasana said the banking institution was equally excited with the partnership with the provincial department of housing.

“If there is one thing that we should all learn from the global economic turmoil, it is that the private sector should work hand in hand with government in order to improve the lives of the people.”

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