R50 billion North West Human Settlements loan must be stopped
13 February 2023
The intention of the North West Department of Cooperative Governance, Human Settlements, and Traditional Affairs (CoGHSTA) to secure a R50 billion loan must be stopped in its tracks.
The DA notes with trepidation, reports that the department has applied for a R50 billion loan from the Development Bank of South Africa (DBSA). This loan is said to be used to deal with a backlog of incomplete housing projects in the province.
While the DA agrees that there is a need to deal with the backlog of incomplete housing projects, we must warn against doing so recklessly and demand that all factors be considered.
The mere fact that the application for the loan is on the eve of election rings alarm bells, leaving the repayment of the loan to the next elected government.