The South Africa-Angola Housing Initiative (SAAHI), created in 2008, will be reactivated this year, after the signing this Friday, of a Memorandum of Understanding between both countries and the Development Bank of Southern Africa (DBSA).
Chairman of the SAAHI, Sello Rathete, guaranteed that conditions continue to be created so that it would be possible to launch pilot projects in Cuando Cubando, Moxico and Cunene provinces.
Sello Rathete explained that his housing initiative would of create employment for citizens of both countries. Projects were linked to the construction of roads, energy, water and housing.
He explained that lack of financial resources had caused the project to be delayed until an agreement was signed with the Development Bank of Southern Africa (DBSA) to be the main sponsor.
The DBSA was likely to make three million US dollars available and 70,000 jobs are expected to be created.
The project has been designed for an initial ten-year period.
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