Johannesburg – 21 September 2023 – The Gauteng Partnership Fund (GPF) is proud to announce the successful completion and launch of The Wagon – a 72-unit affordable rental housing development located in Benoni, east of Johannesburg.

The development is co-funded with the Public Investment Corporation (PIC) at a total project cost of R37 788 14 which includes capitalized interest.

The accomplishments of the developers of The Wagon, Ephenia Moeti and Nthabiseng Masithela,  who are the visionary women behind Lekotu Enterprise, symbolise the spirit of transformation that lies at the heart of the GPF’s mission.

The Chairperson of the Gauteng Partnership Fund Board, Mr Craig Cornish stated, “The launch of The Wagon, showcases the innovative and entrepreneurial work done by the Gauteng provincial government, through its entity, the Gauteng Partnership Fund (GPF):

• In empowering emerging black property developers to participate in the affordable residential property market, and
• In facilitating spatial transformation for the benefit of historically disadvantaged individuals and families, by providing affordable housing in areas where they are more integrated within existing communities.”

The Wagon Project is an EEPF project – that is the GPF’s  Entrepreneur Empowerment Property Fund. The  Entrepreneur Empowerment Property Fund (EEPF) is for the 100% Historically Disadvantaged Individuals (HDI) owned companies. It is an incubator programme designed to promote participation of HDI owned companies in the affordable rental property market.

Over 20 years the GPF  has proven to be a key player in the facilitation of affordable housing developments for Gauteng Province. At the heart of our work lies the mobilization of resources, both financial and technical, to fund and execute crucial projects. The entity has built excellent strategic relationships with property developers and funders and has successfully co-funded projects with senior funders. The GPF is passionate about transforming the property market by encouraging the participation for Historically Disadvantaged Individuals (HDIs) to participate in the market.

The Chief Executive Officer of the Gauteng Partnership Fund, Lindiwe Kwele, expressed her heartfelt congratulations, saying, “Today, we joined Ephenia and Ntabiseng to celebrate, not just the opening of a building, but a symbol of empowerment and progress. These two women have shown us what can be achieved through determination and a commitment to excellence. We stand beside them in this remarkable achievement and look forward to further collaborations that will empower communities across Gauteng.”

The GPF extends its gratitude to the Public Investment Corporation, a key co-funding partner, whose support and collaboration were instrumental in bringing this visionary project to life. The strong partnership between the GPF and the Public Investment Corporation demonstrates the collective commitment to building more inclusive and equitable communities in Gauteng.

Board Chairperson of the Gauteng Partnership Fund, Craig Cornish, added, “The Wagon is a testament to the power of collaboration and the potential for positive change when organisations join forces. We are grateful to our co-funding partner, the PIC, and are inspired by the tireless efforts of all those involved in seeing this wonderful development to its completion.”

The GPF encourages property developers to familiarise themselves with its products and qualification criteria, before applying for funding. Once they have acquainted themselves with the requirements, they can apply for funding via the GPF’s online platform by visiting the GPF website at www.gpf.org.za.

The entity, which offers funding products designed to share project risk with the private sector, is also seeking co-funding partners who share its mission to enhance the lives of people in communities, while also providing investors and partners with sound financial returns.

The Gauteng Partnership Fund (GPF) is an implementing agency of the Gauteng Department of Human Settlements, and is focused on contributing towards spatial transformation in the Gauteng province through the delivery of sustainable, integrated human settlements.

For further information or interview requests, please contact:

Ntombenhle Gwina

Marketing, Communication, and Stakeholder Manager

Email: ntombenhlen@gpf.org.za

Mobile: 063 771 4181