02 Oct 2016 10:30am
WINDHOEK, 02 OCT (NAMPA) Standard Bank Namibia on Friday launched the second phase of the Buy-a-Brick initiative at Otjomuise in Windhoek to raise money in assisting the Shack Dweller's Federation of Namibia.
Standard Bank Namibias Head of Corporate Social Investment (CSI), Sigrid Tjijorokisa said the project will assist members of the federation to improve their living conditions and have decent shelter.
The Buy-a-Brick project is about addressing poverty and the housing shortage in Namibia through the symbolic sale of token bricks in the form of erasers at the cost of N.dollars 5 per brick.
Tjijorokisa, who is also company secretary, said the relationship between the bank and the federation was initiated over 10 years ago, when a memorandum was signed at the Otjomuise Federation Centre.
As a responsible corporate citizen, we try to ensure that we are relevant in the communities in which we operate and that we contribute regionally towards their social and economic upliftment, and further that our CSI initiatives are reflective of national developmental objectives and priorities to have maximum impact where it is most needed.
Tjijorokisa said the money to be raised from this second phase will specifically benefit SDF members to build houses in the Otjomuise area.
Speaking at the same occasion, Deputy Minister of Urban and Rural Development Silvia Makgone applauded Standard Bank Namibia for supporting Government in the provision of housing to the low-income community.
This is really a great achievement and the Standard Bank initiative should be emulated by other financial institutions, she said.
Makgone noted that the country has a backlog estimated at 100 000 housing units in the lowest income sectors, which is growing at an annual rate of about 3 700 housing units.
The Buy-a-Brick initiative was launched in Rehoboth on 12 October 2015 and raised about N.dollars 1.4 million in the first phase. It has a target of N.dollars 2.8 million in phase two.
The money was handed over to SDF leadership for the construction of 40 houses in Rehoboth and the construction of these houses is progressing well.