Securitisation and its application to low cost housing finance in South Africa
- Authors: Zimbwa, Allan Golden
- Date: 2007
- Subjects: South Africa. Constitution , Human rights -- Government policy -- South Africa , Right to housing -- South Africa , Housing -- Law and legislation -- South Africa , Housing policy -- South Africa , Low income housing -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1011 , http://hdl.handle.net/10962/d1002746 , South Africa. Constitution , Human rights -- Government policy -- South Africa , Right to housing -- South Africa , Housing -- Law and legislation -- South Africa , Housing policy -- South Africa , Low income housing -- South Africa
- Description: Section 26 of the Constitution of South Africa Act 108 of 1996 provides that housing is a basic human right and that the government must take reasonable legislative and other measures to achieve the realisation of this right. A number of measures were taken to try to resolve this socio-economic issue. A number of housing institutions were established , various pieces of legislation were passed and housing subsidies were provided. However, housing backlogs remain a challenge. In March 1994 the housing backlog was estimated between 1,3 and 1,8 million units. When more than a million houses were provided by 2001 , the housing backlog had increased to between 2 and 3 million houses. To date subsidies in excess of R29 billion have been spent on housing provision. A study by the Department of Housing concluded that, at the current rate of increase of housing funding vis-a-vis the growing backlog and rapid urbanisation, the household backlog will not be changed in ten years' time. The United States of America (USA) had a similar low cost housing problem, but securitisation alleviated it with the participation of government agencies Fannie Mae, Ginnie Mae and Freddie Mac. In South Africa, the NHFC tried to emulate the USA model by establishing Gateway Home Loans (Pty) Limited (Gateway) in 1999. Gateway, however, was not a success. This research investigates whether securitisation can be applied in South Africa to alleviate the low cost housing issue. The study finds that there is a credit availability gap for the low income sector earning less than R8 000 per month because of the perceived risk of default and unwillingness by banks to lend to this sector. The increase in housing backlog that continues unabated, inadequate housing finance system to low income earners, the lessons learnt from the failure of Gateway, the success factors of the USA securitisation model and the sound and sophisticated South African financial system are the rationale for applying securitisation. A proposal of how to effectively apply securitisation to low cost housing in South Africa is provided with recommendations to revive the primary market.
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- Date Issued: 2007
The impact of redeployment of teachers in Port Elizabeth schools
- Authors: Zokufa, Feziwe Angela Nomvuyo Nozipho
- Date: 2007
- Subjects: Teachers -- Supply and demand -- South Africa , Teachers -- Recruiting -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MEd
- Identifier: vital:9491 , http://hdl.handle.net/10948/677 , Teachers -- Supply and demand -- South Africa , Teachers -- Recruiting -- South Africa -- Port Elizabeth
- Description: The aim of this study was to establish new strategies on how redeployment of teachers should be conducted and enable teachers to adapt to the redeployment process, especially in Port Elizabeth schools. This investigation was set within both qualitative a quantitative framework. Five schools where some of teachers were affected by redeployment in Port Elizabeth were investigated. Purposive sampling was used for selecting the respondents for this study and also for selecting these five schools. Questionnaires and interviews were used for the collection of data. The aim of the study was to investigate the impact of redeployment of teachers in Port Elizabeth schools. The findings revealed that there is needs to upgrade the qualification of the teachers, that effective human resource planning should result in the involvement of teachers when decision making takes place, especially issues that affect them directly such as iv redeployment and that provincial Department of Education and teachers organizations like South African Democratic Teachers Union (SADTU), National Professional Teachers Organization of South Africa (NAPTOSA), South African Teachers Union (SATU) should work closely in the area of redeployment. This topic is useful for all who are in the teaching profession, whether as redeployed teachers or as practicing professionals. A number of conclusions and recommendations, in line with the findings of the study were made. Recommendations on how redeployment of teachers could be conducted in Port Elizabeth schools were presented. An attempt has also been made to include items that are of special interest to South African teachers in general and Port Elizabeth teachers in particular.
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- Date Issued: 2007