Jul
13
Africa’s Biggest Pension Fund Invests $730 Million in Home Loans
By-
SA Home Loans to extend credit to qualifying government staff
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Government’s pension fund has 1.2 million active members
South Africa’s Government Employees Pension Fund, the continent’s largest, invested 10.5 billion rand ($730 million) in mortgage provider SA Home Loans Ltd. to boost government workers’ access to housing.
The investment will be done by the Public Investment Corp. on behalf of the GEPF, according to a statement distributed in Johannesburg on Wednesday. Of the funds, 5 billion rand is earmarked for civil servants, 2 billion rand will be allocated to affordable housing for low-income earners, 2 billion rand to help SA Home Loans extend mortgages to other qualifying applicants, and 1.5 billion rand for affordable housing developers…
Africa’s Biggest Pension Fund Invests $730 Million in Home Loans
