Briefing by RHLF on Annual Report 2010
description
Transcript of Briefing by RHLF on Annual Report 2010
TO THE
PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS
15 October 2010
Cape Town
Presented by:
Jabulani Fakazi & Hennie Potgieter
BRIEFING ON THE RHLF ANNUAL REPORT 2010
TO THE
PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS
15 October 2010
Cape Town
Presented by:
Jabulani FakaziCEO
Key points Business Environment Impact performance 31 March 2010 Financial performance year ending 31
March 2010
Unqualified Audit Report from External Auditors – since inception
Internal Auditors found control environment acceptable and adequate
RHLF complied with all legislative and regulatory provisions
RHLF reported a surplus of R28,9 million RHLF achieved most of its impact targets
South Africa officially entered recession during May 2009, its first in 17 years,
High level of job losses – the estimate of job losses in 2009 calendar year was about 1 million jobs,
Over indebtedness. It is estimated that household debt represents on average between 70% and 80% of their disposable income,
Liquidity crunch was a major challenge in that RHLF intermediaries were finding it difficult to raise finance from the private financial institutions
Target for 2010: 37,400Achieved: 33,112 Average Loan size R 4,866
Average Loan size R 4,866
Impact performance 31 March 2010
Target for 2010: 78% for “Housing”Achieved: 84% That = 27,814 of the new loans was used for “housing”
68% 70%
Target for 2010: 20% to households earning R6000 or more pmAchieved: 21% to households earning R6000 or more pm
Target for 2010: 65% to households earning R3500 or less pmAchieved: 62% to households earning R3500 or less pm
Large number of small loans Ave
below R2000
68%
Target for 2010: 80% outside GautengAchieved : 88% outside Gauteng
RHLF Development Impact in Presidential Rural Nodes
Cumulative Disbursements since 1996 = R739 million
Cumulative Disbursements since 1996 = R739 million
Key Performance – Actual vs. Budget
Target for 2010: R9,879mAchieved: R11,164mSurplus including profit on disposal of Investment = R29,719m
Thank You