briefing by rhlf on annual report 2010
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BRIEFING ON THE RHLF ANNUAL REPORT 2010 TO THE PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS 15 October 2010 Cape Town Presented by: Jabulani Fakazi CEO. Briefing by RHLF on Annual Report 2010. TO THE PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS 15 October 2010 - PowerPoint PPT PresentationTRANSCRIPT
TO THE
PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS
15 October 2010
Cape Town
Presented by:
Jabulani Fakazi & Hennie Potgieter
BRIEFING ON THE RHLF ANNUAL REPORT 2010
TO THE
PARLIAMENTARY PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS
15 October 2010
Cape Town
Presented by:
Jabulani FakaziCEO
Key points Business Environment Impact performance 31 March 2010 Financial performance year ending 31
March 2010
Unqualified Audit Report from External Auditors – since inception
Internal Auditors found control environment acceptable and adequate
RHLF complied with all legislative and regulatory provisions
RHLF reported a surplus of R28,9 million RHLF achieved most of its impact targets
South Africa officially entered recession during May 2009, its first in 17 years,
High level of job losses – the estimate of job losses in 2009 calendar year was about 1 million jobs,
Over indebtedness. It is estimated that household debt represents on average between 70% and 80% of their disposable income,
Liquidity crunch was a major challenge in that RHLF intermediaries were finding it difficult to raise finance from the private financial institutions
Target for 2010: 37,400Achieved: 33,112 Average Loan size R 4,866
Average Loan size R 4,866
Impact performance 31 March 2010
Target for 2010: 78% for “Housing”Achieved: 84% That = 27,814 of the new loans was used for “housing”
68% 70%
Target for 2010: 20% to households earning R6000 or more pmAchieved: 21% to households earning R6000 or more pm
Target for 2010: 65% to households earning R3500 or less pmAchieved: 62% to households earning R3500 or less pm
Large number of small loans Ave
below R2000
68%
Target for 2010: 80% outside GautengAchieved : 88% outside Gauteng
RHLF Development Impact in Presidential Rural Nodes
Cumulative Disbursements since 1996 = R739 million
Cumulative Disbursements since 1996 = R739 million
Key Performance – Actual vs. Budget
Target for 2010: R9,879mAchieved: R11,164mSurplus including profit on disposal of Investment = R29,719m
Thank You