The Free Market Foundation’s (FMF) Kaya Ram Initiative celebrates the successful transfer of 10,000 title deeds to deserving homeowners, and this feat is dedicated to providing a sense of dignity. This was made possible thanks to our dedicated sponsors, conveyancers and local governments. and security through property ownership for these recipients and their families. To coincide with this achievement, FMF hosted an event in Klapmutz near Stellenbosch.
There are currently between 5 million and 7 million municipally owned homes in South Africa, with at least 20 million South Africans living in insecure conditions. Many of these properties were built by the apartheid government in so-called “dormitory” areas across the country. Many families have built their own small houses, but still do not have ownership rights.
“This reduces the occupants of these homes to mere tenants, with no guarantee that their assets will remain with their families when they inherit,” said David Ansara, CEO of the Free Market Foundation. No,” he said.
The main driver of the backlog is the cost of transferring title deeds, which is completely unaffordable for most legitimate residents, especially the elderly, pensioners, single-parent families, and the unemployed.
“FMF decided to be directly involved in the title decision process and called on generous South Africans and philanthropists outside South Africa to contribute funds,” Ansara said.
“The cost of taking ownership of a modest home with an average value of R100,000 is advertised as around R6,500. Transfers are done in bulk, so the current cost in Kaya Rum is much lower at R2,950 per title. (This includes all administrative, financing and titling costs).
“While we know we still have a long way to go before all deserving homeowners are given ownership of their property, we are encouraged by the progress we have made and we remain committed to I am calling on my fellow South Africans to join us and collaborate in this, because ownership means dignity,” Ansara concluded.
