Through the Free Market Foundation’s Khaya Lam initiative, Billionaire Johann Rupert and his wife, Gaynor, helped give 10,000 underprivileged South Africans land and houses.
The Free Market Foundation and First National Bank (FNB) launched the project to give title deeds and create wealth in underprivileged communities.
It changed its name to the Khaya Lam Land Reform Project with a mission to assist communities in converting their apartheid-era leasehold titles to freehold titles.
Without proper title deeds, the rightful owners cannot move to another area to work without risking losing their property or borrowing money against their house to start a business.
Khaya Lam, Xhosa for “My Home”, changed this situation by ensuring that people become land and homeowners.
The Rupert family is the biggest contributor to the Khaya Lam project and has sponsored thousands of title deeds.
Free Market Foundation CEO David Ansara announced that 10,000 title deeds have been transferred to the rightful homeowners.
Ansara said there are between 5 and 7 million homes in South Africa owned by municipalities. At least 20 million South Africans live insecurely in them.
Many of these properties were built by the apartheid government in dormitory townships across the country.
Many families built their own small houses but, even so, hold no title. This reduces the residents of these homes to mere tenants.
A major problem to make people homeowners is the cost of transferring title deeds, which is unaffordable to most legitimate inhabitants.
The cost of titling a modest house with an average value of R100,000 is advertised at about R6,500.
The elderly, pensioners, single-parent families, and the unemployed cannot afford the regular cost of the titling process.
The Khaya Lam initiative takes care of these costs and, through it, helps underprivileged people to own the homes they live in.