Page 36 - DPSA_SDR Vol 12 No.2 2019

SOCIAL INVESTMENTS

This often leaves young people from of the GEPF. “We believe that South universal access to tertiary education.
less privileged backgrounds scrambling Point’s clean, safe and affordable First-generation students from rural
to find clean, safe and affordable accommodation offers exactly what areas will appreciate the amenities
accommodation. In response, the students need.” and conveniently-located buildings in
commission recommended that the South Africa’s six major metropoles.
government adopt an affordable plan to South Point Management has become Their families can enjoy peace of mind,
develop more student accommodation. a market leader in South Africa as an knowing that their loved ones are safe.
As student accommodation is not only independent owner and manager of For members and beneficiaries of
a rewarding asset class in its own student accommodation. Historically, the GEPF whose children are bursary
right, but also contributes to the well- exploitative landlords were the prevailing students that stay with South Point, it’s
being and performance of students, alternative to on-campus housing, a double win.
the Government Employees Pension with the majority of students living
Fund (GEPF) has invested substantially in poorly-maintained and expensive “We also like the fact that South Point’s
in student housing over the past three accommodation. business model brings top quality
years. accommodation within financial reach
South Point has changed all that. The of thousands of young people whose
In one investment alone, the largest company provides approximately families cannot afford to foot the bill for
pension fund in Africa committed R484 12 000 beds to undergraduate and their accommodation,” Sithole explains.
million in 2015, and nearly five times that postgraduate students, largely from “Also, the families of students receiving
initial amount again this year. low-income households, at public and financial support through bursaries and
private institutions nationally. This figure NSFAS can rest assured that they will be
“Through our investment in South is set to reach 29 000 beds within the staying in safe environment conducive
Point Management, we hope to make next five years, thanks to the GEPF. to getting that qualification, making
a difference in alleviating the acute friends and living a community-driven
shortage of proper and affordable Aside from the positive returns, Sithole life to the fullest.” n
student accommodation,” says Abel believes that the GEPF is responding
Sithole, principal executive officer to a national imperative by supporting

34 SERVICE DELIVERY REVIEW | Volume 12 No.2 of 2019