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Bitter sweet moment

Manie Annandale, seasoned banker and Nedbank’s fundi on development finance in the Affordable Housing space, has sadly moved upwards and out of housing at the green bank.

Manie has already hit the ground running and now heads up Property Finance in KZN. Our favourite finance banker funded and kick started many of today’s leading developers, enabling them to roll out affordable housing and create substantial residential portfolios.

Manie says, “It’s a bitter sweet moment, today is my last official speech till my successor is appointed. ‘Housing is not rocket science’,” quoting Against Poverty campaigner Connie Pascal, “it is a question of will.”

Addressing the rising cost of developing in the affordable housing sector he says, “There is a ceiling to what people can afford – with utility costs escalating, it is impossible for them to pay more.”

Nedbank has been instrumental in funding green initiatives and the reduced operational costs and benefits are passed on to tenants.”

He acknowledged International Housing Solutions and Rob Wesselo and his team for rolling out affordable housing, attracting investment despite low growth in the economy, a tough investment environment and political volatility.

The Nedbank funded I H S conference is arguably the most important conference in the affordable housing space the by invitation only is the closest one to getting close to what is really happening on the ground.

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