City’s budget allocates billions to informal settlements and housing

The City’s Draft Budget proposed more than R3bn for informal settlement upgrades and services and more than R1bn for formal, affordable housing.

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Over the medium term, comprising the next three financial years, the City’s tabled Building for Jobs Budget 2024/25 proposes more than R3bn in total for informal settlements upgrades and service delivery such as electrification, solid waste and water and sanitation.

More than R1bn has been proposed for formal and affordable housing. Over and above this, a total of R419 million is proposed for the upgrades and maintenance of the City’s affordable housing Council flats in the 2024/25 financial year alone.

‘Our draft Budget is one of shifting gears and finding solutions for the South African and Cape Town housing context. It focuses on mainstreaming and enhancing basic services in informal settlements, investing in the maintenance of affordable Council housing; expanding on the City’s pioneering social housing and accelerated land release programme and catering to beneficiaries of State-subsidised housing. We are also stepping up efforts to ensure tenure and ownership for beneficiaries by enabling them to receive title deeds as a means to establish economic and generational assets.

‘Our innovative Human Settlements Strategy looks at a range of human settlement interventions against the challenging backdrop of housing provision. The reality is that the State is not able to provide enough of a subsidy, land or budget for the development of more affordable housing. Human settlement delivery through partnerships is key. New emphases on micro developers and strong partnerships with social housing institutions is a key focus for the City and this is evident in the land release for affordable housing pipeline that is being driven,’ said the City’s Mayoral Committee Member for Human Settlements, Councillor Carl Pophaim.