SHHA loans go up
Keikantse Lesemela | Monday March 9, 2015 17:32
It entails low income housing programme made up of turnkey and SHHA home improvement loans, which have now increased the upper limit threshold from P36,400 to P52,000 per annum.
Minister of Lands and Housing, Prince Maele told Parliament last week that the loan amount to beneficiaries would increase from the current amount of P60, 000 to P90, 000 for turnkey development and from the current maximum of P45, 000 to P60, 000 for SHHA home improvement loans including the subsidised cost of construction in remote areas.
“This is in consideration of high poverty levels in remote areas, therefore turnkey construction amount will be location-specific to cover high cost of construction in the different areas of the country,” he said.
He said these should be reviewed regularly taking into account the cost of materials and labour. Under the social housing scheme initiatives also includes the integrated poverty alleviation and housing scheme, which is intended to increase beneficiaries and participation of low-income earners through reviews of operational guidelines and capacitation of projects.
The budget proposals of P27.2 million has been made for the financial year 2015-2016 of which P12.6 million will be used to procure delivery trucks to be shared by all projects in operation, while P8.4 million to buy moulding machines.
Maele said the government has committed P400 million under the Public Service Fund loan to be used for the implementation of the Installment Purchase Scheme and Youth housing.
“Botswana Housing Corporation (BHC) n is in the process of finalising a project plan including costs for the ministry’s consideration and onward submission to Ministry of Finance and Development Planning this month,” he said.SHHA programme was handed to the management of BHC under which BHC will focus on implementing the housing delivery, applications and signing of loans.