KixiCasa. Housing MicroFinance. Development Workshop. Housing Finance Workshop for. Wits Business School Johannesburg 3-83

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1 Development Workshop KixiCasa Housing MicroFinance Rebuilding Angolan communities after conflict presented by Allan Cain at the Housing Finance Workshop for Sub-Saharan Saharan Africa Wits Business School Johannesburg November 2008

2 Urban Poverty Challenges More than 4 million IDPs, demobilised soldiers and refugees spontaneously returned to villages or resettled in urban areas since the end of the war. Retailing in the informal sector market is the principal coping mechanism for the poor during the years of war.

3 A Strategy for Rebuilding After Conflict Development Workshop has advocated for reconstruction strategies in Angola to focus on rebuilding social capital of the poor and investing financially in transforming the post-war informal economy so that the poor can benefit from the peace-dividend and share in the country s new wealth. DW has demonstrated that programmes of investment in the informal economy through micro-loans and savings mechanisms is an effective strategy to combat poverty. DW has worked with Angolan women s s organisations since the early 1990 s s to build a micro-finance sector and to advocate with the Government for pro-poor poor policies DW has built Angola s s first MFI KixiCredito reaching over 15,000 micro- entrepreneurs and loaning out $12 million last year (2007). KixiCasa has pioneered housing microfinance to help families in war- affected communities rebuild their homes.

4 Changing Roles of Women Gender roles in society changed in an important way during the conflict Women often became the bread-winners and came to shoulder the major burden for the survival of their families. The informal market is dominated by women, heads of households and a large portion of them originally migrants to the provincial towns or capital. State Company 5% Public Administration 10% Private Sector 19% Other 1% Business (informal) 6% Unpaid Family (informal) 16% Self Employme (informal) 43%

5 Erosion of Property Rights The poor having no formal mechanisms for savings, invest in land or a housing plot and subsequent construction of a residence as the only means of accumulation of any form of wealth. Over three quarters of the residents of the peri-urban districts of Luanda have no clear legal title to the land that they occupy. Informal Purchase Informal Land Occupation Informal House Occupation Informal Rent Informal Family Transfer Formal Purchase Formal Family Transfer Other

6 Economic Exclusion of the Poor Rather than recognising the entrepreneurial creativity of informal sector marketers, the poor have been increasingly excluded from carrying out their business in the streets and urban markets. The poor and have little or no access to bank credit as means to improve their businesses or invest in their livelihoods. The poor therefore are obliged to pay extremely high interest rates to parallel market money dealers for very short term loans, often leaving them in chronic debt. The poor, arguably, are poor risks since they can guarantee no collateral. Their land and houses are not recognised as their own so can not leverage credit.

7 Urban Resettlement Options for Internally Displaced Persons

8 Urban Growth and the Demand for Housing Internally displaced people resettled or returned to find their homes destroyed at the end of the war, resulting in a massive demand as families tried to rebuild Angola s s shortfall of housing is over 875,000 units 65% existing housing lacks basic services such as water and sanitation and are in need of major upgrading From another province From another country Born in the bairro From another bairro

9 Impact of Conflict on Housing

10 The formal banking sector has shown reluctance to enter the housing finance market. Rejection rate by banks for housing loan applications is 82%. Reasons given are: The lack of clear land legislation that would allow property to be used as guarantee The long loan periods the bank needs to wait to recoup their investments The lack of a Government policy on subsidising housing credit Lack of title documents by most clients Lack of a client culture of repayment of debts Financing Housing Fr i end, 26.9% Empl oyer 8.6% Bank 1.7% Fami l y 62.8% Source of Housing Finance MinUA Julho 2005 Only about 1% of Angolan banks loans go to housing.

11 Housing Costs A two room informal sector start-up house cost $3 - $7,000 to build. About 30% of labour is provided by families as the remainder are informal sector builders and assistants.

12 Families migrating to the city usually arrive with no assets If a new migrant needs a loan to start a business or to build a house, the family or informal market lenders are only possible sources Informal trade is the quickest way to acquire enough money to start to build a house Housing for the poor is a process of building over time rather than a one- off investment. Traditional Sources of Capital

13 KixiCredito Microfinance Institution The aim of DW s s microfinance programme is to provide capital to allow the economically active poor to consolidate and grow their businesses. To help clients to scale up from micro to small and eventually medium m scale enterprises; and to transform informal sector survival strategies into real livelihoods and to climb out of poverty. KixiCrédito does this in the form of short term loans using a modified Grameen model of Solidarity group lending. While loans are meant as business investments they are also fungible and the money can in fact be used by the borrower for anything that t she or he chooses as long as it is paid back in-full, and on-time. DW found that about 30% of microfinance clients loans were invested in their housing, to buy land, building start-ups homes, adding rooms or doing household improvements. Housing is seen by most KixiCredito clients as an economic investment and a form of savings or a retirement insurance.

14 KixiCas Credit will be offered to clients for improving their houses or building phased up-gradable houses over several loan cycles. a

15 KixiCas Piloting housing microfinance a In 2005 DW launched an experiment with housing loans to some of KixCredito s micro-entrepreneur clients to test the market for a micro- housing product. Housing loans where made available to 50 of its best clients in Huambo who had completed 4 or 5 credit cycles without defaulting. Funding from Habitat for Humanity was secured to pilot the housing microfinance model. Technical assistance on methodology has been offered by Development Innovations Group. The KixiCasa loan was initially administered by the same credit officers under similar terms as the regular business loans but with a larger amount, from US$800 upwards and a 10-month repayment period. Subsequent cycles allowed this loan to grow up to US$2,500 for clients c demonstrating capacity to pay and having a consistently good repayment record.

16 KixiCas Positive Results a The demand for housing loans is great because KixiCasa offers micro- loans for housing even to poor clients who do not have land titles and therefore can not provide bank guarantees. Risks to the MFI are kept to a minimum by keeping loans small (less than US$2,500) and for a relatively short period (about one year) during which the risk of expropriation & loss of land is relatively ely low. KixiCasa loans to clients to invest incrementally in their housing in stages starting with purchase of a plot of land then building room om by room over several years. Micro-entrepreneurs with undocumented incomes from informal market trading are eligible for KixiCasa loans which would not normally qualify for bank loans. At the end of the pilot phase, KixiCasa had demonstrated a 97% repayment rate and a clientele of 80% women. Habitat for Humanity agreed to provide funding for a further 250 loans.

17 Construction micro enterprises KixiCasamicro enterprises DW supports micro enterprise development in the construction and housing sector. Over 1000 demobilised soldiers have benefited since DW helps trainees organise into construction and production teams s and provide necessary training such as compressed earth block production, masonry and carpentry. Credit can be available for acquiring tools and equipment. Development Workshop Angola

18 KixiCas Client Profile: a Client Profile: Name: Melina Natchiiue, Date of Birth: June 24, 1954 Years in KixiCrédito: Member since 2003 Type of Business: Commerce (local agricultural commodities) Weekly Business Turnover: from $100 to $150 Number of Children: 4, Household members living with her: 8 Future Plans: To construct her own neighbourhood convenience store Excerpts from her interview:.before joining a Solidarity Group of KixiCrédito, my life was quite difficult. Having been widowed in the war at an early age, I was left with 4 children and my income from buying and selling corn flour was not enough for my family. But when I received my first loan from DW-KixiCrédito for my small business, it changed my life significantly. I have now a decent house and I am now building a second one for my grown-up children. I want you to understand that this project can change and improve people s lives just like mine. So, let s unite together in supporting this program so it can go on helping many more poor people like me

19 KixiCas a Construction Advice Microentrepreneurs need for technical construction assistance, such as drawing plans, estimating construction costs or supervising construction labour, varies from person to person. Tools for estimating construction budgets are effective in controlling building costs and ensuring loans disbursed meet client needs. However, providing a wide range of technical advice is costly for KixiCasa and is therefore supported by DW through other programme mechanisms.

20 Linking Housing Microfinance and Land Tenure Regularisation New legislation has downloaded land management to Municipalities. DW is presently extending KixiCasa by offering housing microfinance to the new owner-builders in pilot project area of land regularisation through a programme of land pooling. The pilot project has almost 600 new house-plot owners with secure land tenure and minimal service provision of communal water points and road clearances designed through a process of participatory planning.

21 Linking Housing Microfinance and Land Tenure Regularisation More that 60% of these newlyregistered land owners are women. A portion of these are women-headed-households and other women are designated as title holders representing both spouses. A large portion of the new Bairro Fatima project residents are young and many have salaried members in their households. The new pilot project community is fertile ground for recruiting potentially good KixiCasa clients.

22 Managing Land Tenure Risks through Participatory Planning

23 New Challenges & Lessons Learned The demand for housing-loans from existing KixiCredito entrepreneur clients has declined. Entrepreneur borrowers building houses would rather take business loans which are fungible rather than tied housing loans, giving them more flexibility in managing their financial affairs. The experiment in housing loans for low-paid salaried public workers encountered delinquencies when civil servant salaries were delayed by three months in the first quarter of The housing portfolio has grown in value, beyond available credit lines, requiring the MFI KixiCasa to seek high interest commercial bank loans in order to meet cash needs of beneficiary clients. Most KixiCasa loans are used for housing upgrading, improvements and extensions rather than housing start-ups.

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