Build-Together loan amount increased to N$80 000

01 Sep 2016 18:10pm
SWAKOPMUND, 01 SEP (NAMPA) - The housing loan given to beneficiaries of Government’s Build-Together Programme has been increased from N.dollars 40 000 to N.dollars 80 000.
The programme is a self-help initiative targeting low and ultra-low income earners.
Permanent Secretary in the Ministry of Urban and Rural Development, Nghidinua Daniel announced the decision in a letter dated 04 July 2016, addressed to all regional and local authorities.
The letter also gave the authorities permission to resume the programme after it was absorbed by the Mass Housing programme in 2013.
It also indicated that the maximum income for a beneficiary should be N.dollars 6 000 instead of the initial N.dollars 3 000.
The communication was part of the agenda at the Swakopmund Town Council’s ordinary meeting on Wednesday, where the decision was adopted.
“Given the passage of time and the obvious increase in the cost of building materials and related construction costs, the loan amount should be increased,” reads the letter.
As they resume the programme, local authorities are also expected to strictly adhere to a series of conditions, of which having properly constituted Build-Together committees is one.
They are also expected to ensure that proper loan administration and recovery systems are in place, such as recording all loan applications.
“Applicants who were provided loans in the past but for some reason ended up with uncompleted houses should be given preference, over new applicants and assisted with loans to complete their houses,” reads the letter.
The ministry is expected to hold a consultative workshop on the programme this month for a general review and to make it more effective going forward.
“In November 2015, 120 erven at Mondesa Extension 26 were specifically allocated to the Build-Together Programme. The erven are all provided with services such as roads sewerage, electricity and water,” Swakopmund management committee chairperson Erriki Shitana read.