THE Ministry of Land Reform has announced a new land allocating system which will create an opportunity for poor people living in informal settlements to obtain titles to land which is cheaper and easier to administer.
Simon Nghipandulwa, Development Planner at the Ministry of Land Reform explained that the introduction of the Flexible Land Tenure System (FLTS) through the Flexible Land Tenure Act (Act No. 4 of 2012).
“The Act aims at creating the opportunity for people living in informal settlements to obtain titles which are cheaper and easier to administer. It is an innovative system complementary to the current formal system of freehold tenure which is too costly, time-consuming and complicated for the urban poor.” Nghipandulwa said.
He further stated that an information session will be held with commercial banks operating in Namibia on the subject matter.
“The aim of the meeting is to create awareness to these institutions and inform the banking sector about the new titles under the Flexible Land Tenure Act, 2012 (Act No.4 of 2012) and to discuss the possible credit worthiness of these titles which for example would be. transferable, inheritable, security for loans” he explained.