Bo-Kaap seeks investment assistance

Noor Osman from the Bo-Kaap Civic and Ratepayers’ Association speaks to the residents about Awqaf SA.

The Bo-Kaap Civic and Ratepayers’ Association (BKCRA) held a meeting last Thursday to introduce the community to a public investment model aimed at preventing people from losing their houses.

According to Noor Osman, a member of the BKCRA, they are aware of three cases where people may lose their houses.

“We not sure how many people are in financial distress. This meeting was called to inform the community that we are opening a financial vehicle to assist them in. We engaged the Development Action Group and they surveyed 275 residents for social/RDP/ and purchase housing,” said Mr Osman.

The BKCRA has approached investment organisation Awqaf South Africa for assistance and the possibility of creating and managing a plan.

“We have confidence in their ability to genuinely assist the community. They have many years of experience in financial matters and are prepared to walk the road with us to set up Legacy Projects that will benefit that community,” he said.

According to Mr Osman, in order for this to happen, they must first build a Memorandum of Understanding inside the community and gain collective buy-in before establishing a public investment model.

“Economic challenges are not unique to the Bo-Kaap; many communities around the world grapple with similar struggles. However, what sets Bo-Kaap apart is its rich multicultural heritage which demands both protection and celebration. The true essence of a community resides not just in its physical structures but in its people and the stories they carry,” said Mickaeel Collier, the CEO of Awqaf SA.

Awqaf SA is a non-profit organisation that was founded in 2000 with the goal of empowering historically underprivileged areas through socio-economic, educational, and spiritual initiatives.

“It needs to be understood that Awqaf SA is a community-based endowment that focuses on transferring knowledge-based transmission on creating community endowments that will benefit the community in a sustainable way,” he said.

Mickaeel Collier, the CEO of Awqaf SA, gave the residents a brief introduction into what they do.