Tshepo Mashashane
Head of Strategy, Positioning and Partnerships: Absa Home Loans
Editor's note
What has gone before determines how we move forward
Editor's note
What has gone before determines how we move forward
Tshepo Mashashane
Head of Strategy, Positioning and Partnerships: Absa Home Loans
While there’s no strict definition of what constitutes a generation, intellectuals tend to side with 30 years. This is the average period in which children are born, grow up, become adults and have their own children. It also mirrors the South African residential market since the dawn of democracy.
The significance of three decades of democracy
Millions of South Africans have enjoyed the opportunity to own a home for only three decades or less, some of whom have only been able to start climbing the property ladder in the latter part of their working lives. Many more millions have yet to seize this opportunity.
There’s pride in knowing that any person who took out a home loan in 1994 would ordinarily by now, have been issued with their deed poll certifying their outright ownership of their property. After ushering in a new South Africa 30 years ago, we’re writing the next chapter of the homeownership landscape as housing needs evolve.
Empowering home ownership
The banking sector has played a massive role in the evolution of the residential property market, and Absa continues to implement effective measures that bring more people closer to their homeownership dreams.
Democracy allowed many people to buy homes for the first time. Importantly, millions of local women have been empowered to own homes. They’ve embraced gender equality and the right to apply for home loans in their own capacity.
The law recognised women’s customary marriage homeownership rights. In 2024, the majority of first-time homebuyers are black women, many of whom lead the economic decisions in their homes. We feature an interview with Thato Ramaili, CEO of the Property Practitioners Regulatory Authority (PPRA), who’s on a mission to create a PPRA that fosters an environment in which homeownership thrives and the industry is characterised by diversity and true empowerment.
Embracing innovation and sustainability
It should be no surprise that South Africans are innovative and, in this issue, we celebrate the bright minds who are driving a modern and cleaner approach to building. Bricks and mortar may be the traditional method of building, but there are nuances to how construction will take place towards the end of this decade and beyond. We need to be clever about how we use our natural and environmental conditions, including light and warmth.
Eventually, we could see pilot projects such as the printing of 3D houses turning into a commercial reality. We highlight how the University of Johannesburg in partnership with the Department of Science and Innovation are making strides with a 3D-printed housing project that’s garnering international attention.
Turning to modern green living in practice, Absa now offers rebates to customers who commit to home loans for houses in EDGE-certified developments. This dynamic product is driving South Africans’ ability to live cleaner and support Sustainable Development Goals.
Economic outlook and future of home ownership
Absa Home Loans appreciates that our economy has been through a tough cycle, but rate cuts have begun. The anticipated improvement in business activity following the implementation of a government of national unity (GNU) and economic upswing in 2025, also bode well for people climbing the residential ladder. This optimism glows in our Consumer Review section.
Three decades into our democracy, Absa Home Loans is primed to play a leading role in the residential housing market, by enabling people across our country to participate in homeownership. This, in turn, sets the scene for creating the next 30 years of generational legacy and impact.