City of Cape Town earmarks R3.3bn to address housing crisis

The City of Cape Town will spend more than R3 billion in the next four years to address the housing crisis in the Cape Peninsula.

Of this, almost R2 billion will be spent on formal housing, while about R1.3 billion is earmarked for informal housing and new accommodation types to address growing informal settlements.

The City has been grappling with budget cuts from National Treasury and the many issues that came with Covid-19 but has vowed to address the housing backlog.