Midrand - The Development Bank of Southern Africa (DBSA) has signed a development loan facility of R480 million with the University of Limpopo (UL).
The funding is for the construction and development of a 3 500 bed student accommodation facility. The balance of the required funding will be provided from contributions from UL, Department of Higher Education and Training (DHET), and National Treasury Budget Facility for Infrastructure (BFI). This project comprises Phase 1 of UL’s long term student accommodation infrastructure development programme earmarked to construct 15 000 beds over the next 10-15 years which is aimed at addressing long standing backlogs. “The development has synergies with existing spatial, policy, and development plans of university, local, and provincial authorities”, said Prof Mahlo Mokgalong, UL Vice Chancellor & Principal.
The development loan facility is part of the broader Student Housing Infrastructure Programme (SHIP) being rolled out by the Department of Higher Education and Training (DHET). The programme seeks to address the burgeoning housing infrastructure needs of the higher education sector. “The programme is aimed at commissioning about three hundred thousand additional student bed capacity in the sector”, said Ms Zodwa Mbele , Group Executive Transacting.
"We support the Minister of Higher Education, Dr Blade Nzimande’s vision in providing safe, hygienic, accessible, and affordable student accommodation infrastructure, especially in rural and previously disadvantaged institutions," she added.
Note to Editors:
About the Development Bank of Southern Africa (DBSA)
The Development Bank of Southern Africa (DBSA) is a leading Development Finance Institution (DFI) in Africa. Established in 1983, the DBSA participates across the entire infrastructure value chain and provides planning, project preparation, financing, and implementation support for economic and social infrastructure in South Africa, SADC and the rest of the African continent. The institution’s mission is to improve people’s lives, boost economic growth and promote regional integration through infrastructure development.
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