South Africa’s richest man Johann Rupert recently donated 10,000 homes and land deeds through the Free Market Foundation‘s Khaya Lam project, according to a report by Daily Investor. This significant contribution marks another instance of Rupert’s ongoing philanthropy. In 2018, he funded 70 title deeds for disadvantaged residents in Karoo, but his latest effort is much more expansive.
Rupert, with his wife, Gaynor, established the Free Market Foundation, partnering with First National Bank to initiate a program to restore title deeds to those affected by apartheid policies. Their objective is to foster wealth within these communities.
The Khaya Lam Land Reform Project, named in isiXhosa for “My Home,” seeks to transform apartheid-era leasehold titles into freehold titles. With proper title deeds, individuals can leverage their properties for loans, hindering potential future ventures.
Though Rupert is a major benefactor of the Khaya Lam project, his contribution is part of a broader effort. Along with other supporters, the initiative has provided 10,000 title deeds.
David Ansara, CEO of the Free Market Foundation, stated that numerous South African families reside in homes they built but lack official ownership, rendering them tenants. The significant barrier for many is the prohibitive cost associated with legal property transfer.
The expense to title a modest house valued at around R100,000 ($5,436) is approximately R6,500 ($353.38), an unaffordable sum for many, including the elderly, single-parent households, and the unemployed. The Khaya Lam project addresses this financial hurdle, enabling underprivileged individuals to own their homes officially.
