[Its quite funny what happens when they build houses for the blacks. The blacks also complain, and some actually sell those free homes and then walk away with the cash! Some blacks have actually sold their homes, taken the money and then gone back to living in shacks. Socialism is such crock! Let people earn their own money and build their own homes and then they’ll be happier. What people in this country really want and need are JOBS! Jan]

Johannesburg – The Financial Sector Charter Council has confirmed its commitment to providing R42bn in low-income housing finance by 2008 and working with government and other Charter participants to achieve this target.

With regards to BEE transaction financing, the council has also agreed that R1bn will go towards funding co-operatives.

At its final meeting for the year, the council also approved the standards for access to banking, long-term, short-term and collective investments.

The standards include physical accessibility, appropriateness, affordability and fair value, simplicity and understandibility and non-discrimination.

“The standards give companies the opportunity to design new products and services to address access needs. The access committee has also completed work on standards to measure consumer education.

“In terms of these standards, it has been agreed that the Charter Council will co-ordinate integrated and appropriate consumer education initiatives across the sectors.

“A scoring mechanism has been agreed for access which lays the basis for each company to measure their contributions from 2006,” the council said.

It was also agreed that the Council would ensure that research on the needs of the target market and the impact of Charter initiatives would be undertaken on an ongoing basis to better inform the Charter access product offerings.

“The Charter Council also noted the important role black private equity funds could play in achieving Charter’s objectives. To this end a meeting of key participants will be convened to define how to incentivise the sector to utilise black private equity partners,” the council said.

It added that it was confident that all stakeholders remain committed to the spirit of the Charter and its full implementation.

“The Charter is a breakthrough in efforts to develop strategies for stronger growth, higher investment, black economic empowerment and extending financial services to all.

“Moreover, it has forged a critical partnership between civil society, the private sector business and the state, which will ensure the achievement of the Charter’s goals by 2014.”

The Council elected a new chairperson to succeed inaugural chairperson Ronnie Napier of the SA Insurance Association, whose term of office had expired.

Jan Mahlangu of the Nedlac Labour constituency was unanimously elected chairperson of the Council for 2006.

URL: http://www.fin24.co.za/articles/default/displ…/p>