A parastatal to the Mpumalanga Province in South Africa, MEGA aims to create an entrepreneurship and investor-friendly environment. The province is a key tourism hub and its residents are becoming increasingly financially independent. The national surge in the middle class is also evident in income earners in this province. This has presented many needs for consumers that need to be met, such as finding suitable housing. MEGA is an agency that has resolved to attend to these needs directly. The Mpumalanga Economic Growth Agency provides housing finance for permanently employed individuals with no permanent homes.
Its deep commitment to the people of Mpumalanga is what inspires many of MEGA’s objectives. One of its key objectives is to identify market investment opportunities. This is complemented by the aim to provide flexible and empowering financial services and products. MEGA’s current client standings are at 1000 clients.
The housing finance offered by MEGA is divided into long-term and government subsidy linked loans. MEGA is able to help clients get subsidies or grants that government offers for buying housing and land, if government criteria are met. For this service, MEGA permits clients to use their pension or provident fund or insurance policy as security for long term loans.
To qualify, applicants need to supply their South African I.D., have a bank account and earn a minimum monthly salary of R1200. The agency will apply its extensive knowledge about the housing market in Mpumalanga to determine eligibility and seek the most flexible and empowering financial solutions.