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Musa Group Investment in Lehae Affordable Housing Project

 

Press Announcement

26 October 2017

Musa Group Investment in Lehae Affordable Housing Project

The Constitution of South Africa states that “everyone has the right to have access to adequate housing”. Adequate housing does not merely achieve Maslow’s most basic physiological need of shelter, which is important, but even more fundamentally important is that adequate housing fuels the inspiration of human dignity.

Opportunities exist in this space for more work to be done in order to accelerate delivery of quality affordable housing. Musa’s Housing platform, the Skyward Group has developed a niche in delivering quality product to the South African market.

With a R50 million commitment from the Musa Group, Skyward and its partners have launched one such project in a township called Lehae, situated in the South of Johannesburg.

This past month, a team from the Unemployment Insurance Fund (“UIF”) and the Compensation Fund (“CF”) visited the development site to view the project which will see up to 2,000 homes built over the coming years. Currently in its first phase, with over 400 houses scheduled to be built, the team witnessed yet another successful partnership between UIF, CF and its stakeholders, as Skyward continues to pursue the goal of delivering quality housing and provide sustainable returns to its investors, complementing Musa’s continued efforts to Do good and Do Well in key sectors of the African economy.