Note from AEC: Poor residents all over Cape Town have long been complaining about Thubelisha Homes’ lack of consultation with poor communities and their authoritarian housing policies that resort to forced removal. Management of the N2 gateway flats have been a failure; Joe Slovo residents are exercising their right to resist forced removals next door; and now homeless residents of Delft houses have been evicted while Thubelisha gives these same BNG houses to its business friends and contractors.
Housing agent Thubelisha is R67m in the red
Andisiwe Makinana
May 21 2008 at 05:33PM
Thubelisha Homes, the government’s housing agent which was mandated to implement low-cost housing and now faces closure, is technically insolvent.
This was revealed when the company presented its performance review for the financial year (2007-08 ) to Parliament’s portfolio committee on housing on Tuesday.
The company had targeted a profit of R49,5-million and instead made a loss of R67,5-million, a variance of R117-million.
While Thubelisha had projected revenue of almost R975-million, its actual revenue stood at R338,4-million, a difference of R636-million.
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