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ANNUAL REPORT 2010

ANNUAL REPORT 2010. 14 OCTOBER 2010. Morgan Pillay. CONTENT. The mandate The year in perspective Development performance 2009/10 Financial performance 2009/10 Breakdown of reasons for poor performance Key strategic issues Conclusion. THE MANDATE.

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ANNUAL REPORT 2010

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  1. ANNUAL REPORT 2010 14 OCTOBER 2010 Morgan Pillay

  2. CONTENT • The mandate • The year in perspective • Development performance 2009/10 • Financial performance 2009/10 • Breakdown of reasons for poor performance • Key strategic issues • Conclusion

  3. THE MANDATE NURCHA ensures the availability of bridging finance to small, medium and established contractors building low and moderate income housing and related community facilities and infrastructure

  4. THE YEAR IN PERSPECTIVE • Poor economic trading conditions • Slow growth in business • Contracts signed reduced by 14% • Houses built improved by 7% • Value of loans increased 26% • Infrastructure projects completed increased by 71% • Mobilized private sector funding R135m • High cost of financing • Persistent non-payment from government departments

  5. THE YEAR IN PERSPECTIVE (cont) • Government recapitalisation of R250m did not materialise • Expanding geographical footprint and coverage improved • Alignment with intermediaries strengthened and 30 % shareholding finalised

  6. DEVELOPMENT PERFORMANCE 2009/10

  7. HOUSES IN APPROVED LOANS AND COMPLETED HOUSES

  8. LOAN AND PROJECT VALUES (R MILLIONS)

  9. COMPLETED HOUSES/SITES

  10. NUMBER OF HOUSES/SITES IN APPROVED LOANS

  11. NUMBER OF PROJECT LOANS APPROVED BY PROVINCES

  12. VALUE OF LOANS FINANCED (R MILLIONS)

  13. VALUE OF PROJECTS FINANCED (R MILLIONS)

  14. ANNUAL EMPOWERMENT STATUS

  15. FINANCIAL PERFORMANCE 2009/10

  16. KEY STATISTICAL INFORMATION YEAR ENDED 31 MARCH 2010

  17. CAPACITY REPORT per programmeAS AT 31 MARCH 2010

  18. BREAKDOWN OF REASONS FOR POOR PERFORMANCE • Failure by employers to allocate tenders • Late payments by employers especially state organs (government departments and SOE) • Reliance on final accounts and retention money to settle the debt • Budgetary constraints by employer departments • General state of the economy. Commercial banks not willing to grant loans to end users

  19. BREAKDOWN OF REASONS FOR POOR PERFORMANCE (cont) • Lack of loan facilities at concessionary rates • Continued decrease of own funds which would be used to leverage loans from the private financiers

  20. KEY STRATEGIC ISSUES • Alignment to Outcome 8 • Need to raise additional funding from the State • Non-payment from government departments hampering business growth • Leverage regional footprint and capacity • Technical assistance window must be considered to foster integrated human settlement planning

  21. R 10 BILLION VALUE OF PROJECTS SUPPORTED SINCE INCEPTION NURCHA “GOING BEYOND FINANCE” CONCLUSION

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