City sells Cape Town Community Housing Company shares Press Release by the City of Cape TownPress Note: The AEC wishes to alert everyone of the continued privatisation of housing delivery here in Cape Town. Cape Town Community Housing Company is responsible for the creating a complete mess of all its housing developments including endangering the lives of residents in Newfields Village. The further privatisation of this company means that it will be even less accountable to the residents of the city. Because the company will now be allowed to pursue profit without any moral reservations, it will mean increased corruption, higher rents for poor tenants, increased evictions, and the building of even more defective houses. We also wish to make clear that the national housing crisis is not a technical issue of capacity or service delivery; it is a political choice not to build enough houses for the poor.
For more information, see the below Press Release by the City of Cape Town
For comment on on this issue, contact Gary at 072-392-5859.
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THE City of Cape Town is to sell its shareholding in the Cape Town Community Housing Company for R5 million. The share price was determined in an open tender process. The National Housing Finance Corporation (NHFC) enjoys first right of refusal to the shares; if it does not take up the offer, the shares will be sold to Daku Calana Investment Holdings which won the tender.
Media enquiries:
Cllr Dan Plato, Tel: 021 400 1304 or Cell: 076 832 5505
Louise Muller, Shareholding Management, Tel: 021 487 3940
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