STAFF WRITER
The Government Institutions Pension Fund (GIPF) has proposed a Namibian Rent-to-Own Housing Model aimed at helping government employees, low-income earners, and middle-income earners in Namibia to become homeowners.
GIPF Chief Executive Officer, Martin Inkumbi, presented the proposal to the Minister of Urban and Rural Development, Sankwasa James Sankwasa, on Tuesday.
Inkumbi said the initiative seeks to make housing accessible to all Namibians without requiring payslips or imposing many of the restrictions typically associated with conventional housing finance.
He noted that the Rent-to-Own framework offers a practical solution for low- and middle-income earners, as well as informal traders, who are often excluded by banks and other lending institutions. Under the model, rental properties would gradually be converted into ownership properties through rent-to-own agreements, enabling tenants to eventually become homeowners.
Sankwasa acknowledged that the current housing system has largely excluded low- and middle-income earners and informal traders. He emphasized the need for reforms that not only improve housing affordability but also accelerate the delivery of completed housing units through the adoption of Alternative Building Technologies (ABT) and innovative construction materials.
The Minister welcomed the proposal and invited GIPF to present the model to local authorities and the National Housing Enterprise (NHE) for further engagement and consideration.
Sankwasa urged GIPF to explore ways of assisting local authorities with the upgrading and reconstruction of sewage infrastructure. He noted that many local authorities are experiencing challenges resulting from the rapid influx of people into urban areas, placing increasing pressure on existing sewage systems that may soon be unable to accommodate growing populations.
This article was first published by the Ministry of Urban and Rural Development.
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