Cape Town City Council partners with Free Market Foundation & in Parys 54 additional freehold titles handed to Free State tenants
The Free Market Foundation’s (FMF) Khaya Lam (My House) Land Reform Project is gaining momentum, with two significant events taking place today, 22 September 2015.
1. The official signing of a Memorandum of Understanding between the City of Cape Town Mayor Patricia de Lille and the FMF to transfer an initial 100 freehold titles, sponsored by Dr Christo Wiese, to tenants in Nomzamo.
2. 54 additional freehold titles, sponsored by Cashbuild, to be handed to tenants in Ngwathe, Free State.
In a statement released today by Cape Town City Council, executive mayor, Patricia de Lille, said the following:
“The ceremonial signing we participate in today truly exemplifies the powerful potential in partnership for the betterment of the lives of residents in Cape Town.
It gives us great pleasure to announce that we will be collaborating with the Free Market Foundation (FMF) in the Khaya Lam (My House) Land Reform Project to secure the issuing of one hundred title deeds to previously disadvantaged beneficiaries of housing developments.
Through the agreement signed here today, one hundred council-owned rental houses in Nomzamo will be converted into freehold properties with title deeds, which will officially transfer ownership to the registered occupants.
We want to thank Dr Christo Wiese who has sponsored these transfers to take place in the historic City of Cape Town.
This synergy we are creating stems from the realization that both the City and the FMF share in the vision of transformation through ownership. We believe in using resources to right the wrongs of the past when so many were economically excluded and denied the opportunity to own property.
We believe that this agreement is an outstanding demonstration of the benefits of co-operation that will bring about real transformation and economic empowerment in the lives of residents. We commend the FMF for initiating this partnership today, and we hope that like-minded organizations will be inspired to follow suit so that we can make more progress possible together with even more organizations in the foreseeable future.”
The latest Free State beneficiaries from the FMF’s Khaya Lam (My House) Land Reform Project will receive their title deeds today. Werner de Jager, the CEO of sponsor Cashbuild, will personally hand out the deeds together with Ngwathe Mayor, Ms Joey Mochela. Many of the now former tenants are over 70 years of age. The event takes place at the Forum Building, Ngwathe Municipal Office at 11 am.
Khaya Lam, which is transformation through ownership, has the backing of Free State Premier Ace Magashule and the support of all political parties in Ngwathe.
FMF executive director Leon Louw said, “We are delighted to be in partnership with the City of Cape Town. Transferring title deeds to tenant occupiers is a profoundly powerful tool. It provides the first real step to economic freedom and potentially unlocks millions of rands into the economy. For the first time, people can leverage an asset that is rightfully theirs, to fund education, health care or start small businesses. It is a life-changing event.”
He continued, “We are also delighted to be in partnership with Cashbuild who have generously sponsored 54 houses and sincerely thank CEO Werner de Jager for Cashbuild’s participation.”
“Khaya Lam depends entirely on sponsors and we need more to come forward and join us. To transfer a council-owned house to a legal tenant costs just R1,850. Business, organisations and private individuals, can fund one or many title deeds and make an enormous difference to the lives of the poorest black families.”
The FMF’s pilot project in the Free State’s Ngwathe municipality has seen over 600 deeds transferred to unrestricted fully tradable title. This simple act is transforming the lives of black families, many of which have lived as tenants or with restricted ownership for generations. It gives access to previously locked dead capital and gives hundreds of very poor people their first step towards true economic freedom and economic prosperity. The FMF is creating a blue print to be replicated throughout SA.
The FMF is an independent, non-profit, public benefit organisation, created in 1975 by pro-free market business and civil society national bodies to work for a non-racial, free and prosperous South Africa. As a policy organisation it promotes sound economic policies and the principles of good law. As a think tank it seeks and puts forward solutions to some of the country’s most pressing problems: unemployment, poverty, growth, education, health care, electricity supply, and more. The FMF was instrumental in the post-apartheid negotiations and directly influenced the Constitutional Commission to include the property rights clause: a critical cornerstone of economic freedom.