NHFC to appear before Parliament after DA exposes allegations of mismanagement

16 October 2024

The National Housing Finance Corporation (NHFC) will appear before the Parliamentary Portfolio Committee on Human Settlements after the Democratic Alliance (DA) called for urgent accountability regarding serious allegations of financial mismanagement.

The DA formally requested the Chairperson, Hon. Albert Mammoga Seabi, to summon the NHFC following a whistleblower's damning claims, which include irregular increases in board fees and mismanagement of funds.

The DA has already lodged a complaint with the Public Service Commission (PSC) and called for an immediate investigation into these allegations. Several whistleblowers have come forward with alarming reports implicating the NHFC's CEO and board in financial misconduct.

Today's parliamentary engagement is a crucial opportunity to ensure the NHFC answers for its actions. While we await the findings of the PSC investigation, Parliament has a constitutional obligation to exercise its oversight role and scrutinise the NHFC’s questionable budget priorities and financial practices.

The NHFC is responsible for supporting housing delivery by providing affordable housing finance, particularly to South Africans and legal permanent residents with a household income between R3 501 and R22 000 per month. The DA will not tolerate the reckless misuse of public funds and remains committed to holding the NHFC accountable for any mismanagement.

Issued by Luyolo Mphithi, DA Spokesperson on Human Settlements, 16 October 2024