Home ownership is considered one of the most important investment . Botswana currently has registered housing backlog of 36000. Batswana have developed a huge appetite to relocate from the rural areas to urban areas. The current rate of urbanization was reported at 64% and is expected to reach 84% by 2050. With such opportunity While concerted efforts have been made to ensure housing can become affordable and accessible to majority of citizens, there are still citizens that fail to access the existing housing because of financial constraints and access to information . Through the Home Ownership Finance Training Program introduced by Minnacle Academy , we will bridge the gap and provide relevant information ,advise and tips to aspiring homeowners and those who wish to grow their portfolio of residential real estate investments.
The program inducts participants on activities by commercial banks as catalysts in home ownership through mortgage lending. With 170 registered Savings and Credit Cooperative Societies (SACCOS) which are central for mobilizing savings and funds for on lending in Botswana, the program will also induct participants on the existence of such platforms that can be used for home purchase.
In the end of the training program, Minnacle Academy expects that participants will be aware of exact expectations from financial institutions , requirements from Internal Savings and Lending Schemes (ISLES ), Rotating Savings and Credit Associations (ROSCAs), djanggi , raundi and or motshelo. Participants will also have an appreciation of existing platforms either by government or private developers that aimed to help households in the update of housing for example Youth Housing and Instalment Purchase Scheme. The participants will also appreciate legislation around home ownership incorporating recent developments that let to adjustments of transfer duty.