PRESENTATION TO PARLIAMENT PORTFOLIO COMMITTEE NURCHA: BACKGROUND & BUSINESS PLAN AND BUDGET 2009/10 Presented by Cedric de Beer.

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Presentation transcript:

PRESENTATION TO PARLIAMENT PORTFOLIO COMMITTEE NURCHA: BACKGROUND & BUSINESS PLAN AND BUDGET 2009/10 Presented by Cedric de Beer

NURCHA IS A DEVELOPMENT FINANCE INSTITUTION A PUBLIC ENTITY A SECTION 21 COMPANY (TAX EXEMPT) A JOINT VENTURE: –GOVERNMENT OF SOUTH AFRICA –SOROS ECONOMIC DEVELOPMENT FUND JV AGREEMENT RENEWED IN AUGUST 2005

OUR MISSION NURCHA INITIATES PROGRAMMES AND TAKES CONSIDERED RISKS TO ENSURE A SUSTAINABLE FLOW OF FINANCE FOR THE CONSTRUCTION OF LOW-INCOME AND AFFORDABLE HOUSING, COMMUNITY FACILITIES AND INFRASTRUCTURE. WE WORK IN PARTNERSHIP WITH ALL ROLE-PLAYERS IN THESE MARKETS TO MAXIMISE THE DEVELOPMENT OF SUSTAINABLE HUMAN SETTLEMENTS

OUR VISION TO BE REGARDED AS A PARTNER OF CHOICE FOR THOSE SEEKING INNOVATIVE BRIDGING FINANCE SOLUTIONS

CURRENT MANDATE NURCHA ENSURES AVAILABILITY OF BRIDGING FINANCE TO SMALL, MEDIUM AND ESTABLISHED CONTRACTORS BUILDING LOW AND MODERATE INCOME HOUSING AND RELATED COMMUNITY FACILITIES AND INFRASTRUCTURE

PROGRAMMES NURCHA LENDS TO 1.SMALLER CONTRACTORS 2.MEDIUM & LARGER CONTRACTORS & DEVELOPERS BUILDING 1.SUBSIDY HOUSING 2.AFFORDABLE HOUSING 3.COMMUNITY FACILITIES AND INFRASTRUCTURE

NURCHA’S DEVELOPMENT OUTPUTS SINCE 1996 Number of loans made1 128 Value of loansR1.6 billion Value of projectsR9.9 billion Total houses in projects Houses built

DEVELOPMENT OUTPUTS FOR NURCHA’S FINANCING PROGRAMME FOR THE YEAR APRIL 2008 TO MARCH 2009

LOAN VALUES BY PROVINCE

ENVIRONMENTAL REVIEW 1.CREDIT CRUNCH & RECESSION CONSERVATIVE BANKS FEW BANK LOANS FEW BUSINESS LOANS LESS CONSTRUCTION ACTIVITY IMPORTANT TIME FOR DFI’S 2.SUBSIDY HOUSING EXPECTED GROWTH IN OUTPUTS MORE LARGER CONTRACTORS

ENVIRONMENTAL REVIEW 3.AFFORDABLE HOUSING PREDICT DEFINITE DECLINE IN SALES OPPORTUNITY FOR GROWTH IN RENTAL INCREASING DEMAND FOR NURCHA FINANCING 4.COMMUNITY FACILITIES & INFRASTRUCTURE GROWTH IN BUSINESS MORE ESTABLISHED CONTRACTORS

NURCHA’S ORGANISATIONAL DEVELOPMENT PLAN 1.OPEN FIVE REGIONAL OFFICES 2.PROJECTS IN AT LEAST EIGHT PROVINCES 3.MAJOR FOCUS ON CUSTOMER RELATIONS 4.ENHANCED PROJECT CONTROL AND REPORTING CAPACITY

BUDGETARY IMPLICATIONS 1.INCREASED SPENDING ON SYSTEMS DEVELOPMENT ICT COSTS CONSULTANTS 2.INCREASED BRANDING COSTS 3.NO OTHER OVERHEADS FOR NEW REGIONAL OFFICES

BUDGET BALANCE SHEET

BUDGET INCOME STATEMENT

MAJOR ITEMS OF EXPENDITURE