Limpopo Business 2017-18 edition

FOCUS
The company has loans to the value of R432.4-million as at 31 March
2017. “Because of the expansion of our footprint we are in the process
of raising more capital,” reports Dr Nokaneng. The CEO stresses the
point that Risima is self-sustaining, with no grant paid by the Provincial
Treasury. A clean audit was also achieved in the most recent financial
reporting period. “Our profit for the most recent financial year was
R32-million.”
Innovation
An innovative approach to unlocking the value of land in traditional
areas may be on the cards if the National Home Builders Registration
Council (NHBRC) approves a plan related to the conversion of Permissions
to Occupy (PTO). Where there are no title deeds it is difficult to establish
value, get loans or use land as collateral for buying anything else. Risima
sees potential in converting PTOs to title deeds and is looking at deep rural
areas such as Vhembe and Sekhukhune. Even people who might work in
cities don’t want to give up their ties to traditional land, but they also want to
get certainty of ownership and the right to leverage that ownership if they
RISIMA HOUSING FINANCE CORPORATION
Risima Housing Finance Corporation (Pty) Ltd was originally
known as Gazankulu Finance Company (Pty) Ltd, established
in April 2000. Risima is a wholly owned subsidiary of LEDA; it
falls under Schedule 3D of the Public Finance Management Act
1 of 1999 (PFMA) as a provincial public entity, established by
Limpopo Department of Economic Development, Environment
and Tourism in terms of the Limpopo Development Corporation
Act 5 of 1994 (LDCA).
Risima was established for the purpose of giving effect to
Section 3 (1) of the LDCA which requires LEDA, among others, to
provide housing in Limpopo. Risima has been created to respond
to the need to create access to home loan finance to all residents
of Limpopo, irrespective of where they live, in so doing: assist
LEDA to achieve its objective of job creation and empowerment
in Limpopo through housing construction, in support of the
Provincial Employment, Growth and Development Plan.
Key focus areas are to:
• To provide access to home loan finance and property development
finance to residents of the province in both rural and
urban areas
• To create shareholder value and facilitate employment
creation and economic growth
• Ensure the economic, social and environmental sustainability
of Risima.
want to. The Risima scheme will be
limited to government employees,
thus reducing risk to the lender.
Risima financial
products
• Residential building construction:
for clients to build a house
• Purchasing of existing residential
houses: clients buy existing
houses
• Purchasing of sites: clients purchase
vacant sites
• Extensions and renovations:
clients improving their houses
• Switch bonds: moving
a bond from another
financial institution
to Risima
• Installation of solar water heating
systems
• Additional loan: clients with
equity on their properties can
apply for additional loans
• Access bond: available to clients
who pay more than the
required instalment on their
home loans. Clients can apply
for the funds when they
need them.
CONTACT INFO
Lebowakgomo (head
office)
Tel: +27 15 633 4732 or
+27 15 633 4700
Polokwane (regional office)
Tel: +27 15 295 5120
Ritavi (regional office)
Tel: +27 15 303 1731
Thohoyandou (regional
office)
Tel: +27 15 962 4900
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