Suchergebnisse

The aim of this article was to provide an understanding of the reasons for the non payment of mortgage bonds in the South African context. The article starts off with a brief history on housing finance under apartheid from 1948 to 1994. It then conceptualise current housing finance to the lower end of the market (mainly for black people) in South Africa. This is followed by a literature review of possible reasons that contribute to the non payment of mortgage bonds in the South African context and a brief overview of the methodology followed during the interviews with defaulters. In the fourth part of the paper, the results from the empirical survey are discussed. The results of the survey confirm previous research that financial reasons are a fundamental factor that influences the non payment of mortgage bonds. According to the respondents, other factors that influence non payment include educational problems, political interfer ence and peer pressure, and the reaction and efficiency of the banks. The recommendations of respondents on solving the problem of non payment in clude shorter loan periods, improvement of bank management, and mortgage bond education. Reward programmes are also mentioned as a possible solution to defaulting. The study concludes that long term affordability is one of the main reasons that contribute towards the non payment of mortgage bonds. An additional conclusion is that financial institutions need to rethink their management of mortgage loans to lower income households.

AbstractA social licence to operate and corporate social responsibility are often applied voluntarily to ensure a positive relationship between businesses and communities. But South Africa's Renewable Energy Independent Power Producer Programme makes investment in local socio‐economic development a contractual obligation. To assess the implications of this legalised approach to CSR and the social licence to operate, between September 2019 and January 2020 we conducted seven focus group discussions and 24 key informant interviews in two towns in South Africa's Northern Cape province. The data were analysed thematically and triangulated with data on crime, municipal finance and house prices. Our concerns about the legalised approach are that it does not require local consent; it reduces local development to a needs analysis; it does not require local collaborative planning, despite adverse consequences such as social disruption; it bypasses local organisation and accountability; it does not provide cheaper local electricity; and it offers no guidelines for decommissioning.