MEDIA ALERT 

GOVERNMENT AND THE BANKING ASSOCIATION SIGN GROUND BREAKING MEMORANDUM OF UNDERSTANDING,
MARCH 31, 2005, PRETORIA 

In support of the Financial Sector Charter (FSC) the Minister of Housing, Lindiwe Sisulu and the Banking Association South Africa will sign a ground breaking agreement on the creation of a properly functioning housing market. 

The Banking Association South Africa will be represented by the Managing Director: Mr Cas Coovadia.  The following CEOs will represent their banks, Mr Steve Booysen (ABSA), Mr Paul Harris (FNB), Mr Tom Boardman (NEDCOR) and Mr Jaco Maree for Standard Bank. 

Immediately after her appointment as the Minister of Housing, the Minister started engagements and discussions with the financial sector to facilitate the creation of properly functioning housing markets in previously under served areas and to make home loan finance available and accessible to those previously denied access. The signing of this important memorandum signals the commencement of that relationship. 

Details of the signing ceremony and media briefing are as follows: 

DATE:           MARCH 31, 2005 

VENUE:         240 WALKER STREET, PRETORIA, SUNNYSIDE

                   GOVAN MBEKI HOUSE, DEPARTMENT OF HOUSING

                   GROUND FLOOR 

TIME:           10:30 am for 11:00 am

For more information: 

Thabang Chiloane, Housing Ministerial spokesperson on 082 8888 783

Claire, Banking Association South Africa spokesperson on 082 450 9193

Date: March 30, 2005