Limpopo province in South Africa has been identified through various research findings as the province with the highest level of poverty in the country with 78.9% of the population living below the national poverty. With such high levels of poverty, the housing market has also not registered any credible progress with records showing that by 2011 local dwellings were located in a tribal or traditional area compared to a national average of 27.1%.
In order to mitigate this housing crisis, Risima housing finance corporation was established. Risima is a progressive housing institution established by the Limpopo Economic Development Enterprise in order to provide home loan finance to residents of Limpopo province especially those who are not considered as viable bankable clients by other commercial lenders.
Risima focus areas have included rural housing finance scheme, urban housing finance scheme, risk management related products, housing project facilitation and property investment or disposal.
The Risima housing finance product portfolio therefore caters for building of new properties, buying existing properties and sites, extensions to existing properties, improvements to existing properties, home owners risk cover, life cover, access bonds and additional home loans. Risima also attends to housing project facilitation through joint ventures and government housing subsidy schemes.
Risima housing finance corporation can be contacted on 0156334700.