South Africa Student Housing Gets Boost from World Bank
The International Finance Corporation (IFC), part of the World Bank Group, has invested Rs 150 million in South Africa’s Eris Property Group which will be used to develop and operate accommodation for up to 15,000 students by 2026. Approximately 2.5 million students were enrolled across all tertiary institutions, including universities and Technical and Vocational Education and Training (TVET) colleges, in 2020. The DHET confirmed that the dedicated bed capacity could only accommodate 11% of all enrolled students, with the majority relying on living allowances from the National Student Financial Aid Scheme (NSFAS). The NFC estimates that the current shortfall exceeds 500,000 and will grow by 40% by 2025 owing to increased enrolments and the slow rollout of government’s Student Housing Infrastructure Programme (SHIP). The DHET-led SHIP looks to provide 200,000 beds at universities and 100,000 beds at TVET colleges by 2030. The partnership also extends to the IFC’s EDGE (Excellence in Design for Greater Efficiencies) programme which certifies resource-efficient and zero carbon buildings. "We are excited to welcome IFC as a core investor in our student accommodation platform,” noted Johan van Vuuren, the executive head of student accommodation at Eris.
Tags : INTERNATIONAL World Bank student housing South Africa Student Housing Infrastructure Programme