Category Archives: Cas Coovadia

Task team to look into affordable housing

imagesOn Monday, 3 February 2014 ETHICORE Political Consulting client – the Banking Association South Africa held bilateral consultations with the South African Minister of Human Settlements – Ms Connie September, on housing delivery and finance. Below are the statements released by Government following these consultations.

Statement by the Government Communications and Information System, 4 February 2014
Source: Issued by South African Government News Agency

Johannesburg – Human Settlements Minister Connie September says she has formed a task team to look at ways in which her department can work with banks to deliver one million homes over the next five years.

Briefing journalists after a meeting with representatives from all South African banks in Sandton late on Monday, September said she vested the task team with the responsibility to forge a formal partnership to speed up the delivery of houses in the country.

This comes as the department, which has provided low-cost housing to millions of South Africans in the past 20 years, recently moved to help the working class who fall within a “gap market” that cannot afford a housing bond from any bank.

September said there was a need to define the department’s relationship with all banks.

“In order for us to do that, we have agreed that one of the things we should do to assist us moving forward in making sure that we can have a million housing opportunities in this country, is how do we structure a continuous relationship with the banking industry that can assist us to achieve that objective.

“We have therefore agreed that we put together a group of people that will make sure that there is practical implementation of those areas that we have agreed amongst ourselves to implement that task,” she said.

While the task team gets to work, September said there will be continuous interactions between her department and the banks to find ways to get in more people into the affordable housing market to reduce the high number of people who have been left out of the housing market.

“We will look into the things that we can do in the interim, whether they are legislative, or are just looking at the different packages that are there and in the long term, the National Development Plan calls upon us to do a range of things … It gives us an opportunity to look at what do we [need to] do differently, and how do we make sure that we can have a very positive outcome of realising our goal.” –

Banking sector and government agree to speed up housing delivery

imagesOn Monday, 3 February 2014 ETHICORE Political Consulting client – the Banking Association South Africa held bilateral consultations with the South African Minister of Human Settlements – Ms Connie September, on housing delivery and finance. Below are the statements released by Government following these consultations.

Statement by the Department of Human Settlements, 4 February 2014
Source: Issued by Department of Human Settlements

The Minister of Human Settlements, Connie September and representatives from the country’s major commercial banks led by Mr Cas Coovadia, yesterday agreed to consolidate their efforts to ensure the delivery of sustainable human settlements, with a special focus on financing the affordable housing sector.

The meeting was part of strengthening the ongoing relationships between the banking sector and government that was started twenty years ago in the Democratic South Africa.

Minister September said: “Human Settlements is not just about houses. It includes a range of other issues that require the participation of all other stakeholders that have a role to play in the sector.”

The parties acknowledged their contributions, common objectives and agreed that a collaborative effort was required to implement the National Development Plan and address their shared challenges within the spatial development landscape.

“Over the next five years, the department plans to provide over a million housing opportunities to the poor, provide basic services to informal communities, and address the backlogs in sanitation. A critical objective of the department is to revitalise the housing market, and to crowd-in sizeable volumes of private capital to support the affordable housing market. The key question is – what else needs to be done to secure significant levels of capital to support this market,” said Minister September.

The parties have agreed to establish a working implementation team comprising both the public and the private sector, and to be expanded to include further relevant stakeholders, and will provide greater details as to their common programme within the next two weeks.

The meeting has identified areas of interest in realising the government’s goal of delivering one million housing opportunities in the next five years. These areas can be achieved through short, medium and long term collaborations.

The parties will pay a particular focus in the area of affordable housing sector and this include: Existing government instruments like the Financed Linked Subsidy Programme (FLISP), Policy and Regulatory framework, the agreement on the modalities of the Mortgage Default Insurance (MDI); Rental Housing issues and land availability spatial development framework and environment in which human settlements operate.

The Minister confirmed that there would be additional dialogues with other organs of state for their participation, which was welcomed by the Banking Council.

Banking Association South Africa urges ANC to consider impact of policy decisions on banks

Cas Coovadia – Managing Director, Banking Association South Africa

With five days to go before what is likely to be a landmark 53rd national elective conference of the governing African National Congress (16 – 20 December 2012 in the city of Mangaung in South Africa’s Free State Province), ETHICORE client – the Banking Association South Africa has once more publicly pronounced itself on the implications of the possible policy resolutions adopted at the conference on the South African banking sector and the economy more broadly.

This follows the publication of the article entitled “Business gets serious about lobbying at Mangaung” which appeared in the December 6, 2012 edition of the Business Day newspaper, by writer and author Carol Paton who in it examined the lobbying phenomenon ahead of the conference. In it, the Banking Association South Africa is acknowledged as having trailblazed advocacy, lobbying and engagement with the ANC on its economic policy proposals. The article is also available here on the ETHICORE website: “Banking Association South Africa trail blazes lobbying for Mangaung”

In this follow-up piece by Business Day financial services correspondent Phakamisa Ndzamela, the Banking Association South Africa’s Managing Director, Mr. Cas Coovadia urges the ANC to serious consider the implications of the party’s policy resolutions on the banking and financial services sector and therefore the economy more broadly. In it, Mr. Coovadia calls on the ANC to consider the written submissions and proposals made by the Banking Association earlier this year to the ANC, on its economic policy proposals. This includes amongst others, the nationalisation of mines, expropriation of land without compensation and the role of the state in the economy. Critically, Mr. Coovadia calls on the ANC to adopt the National Development Plan under the custodianship of Minister in the Presidency for the National Planning Commission, Trevor Manuel, as the vision and blueprint for the country.

ETHICORE is proud to have assisted, supported and advised the Banking Association in its research, analysis and formulation of submissions to the ANC on the banking sector’s response to the ANC’s economic policy proposals.

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