by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – FIRST National Bank (FNB) has strengthened its position as a key enabler of affordable homeownership in South Africa, extending over R23.2 billion in affordable housing loans to date and helping more than 69,000 families secure homes.
In the past financial year alone, FNB approved R3.3 billion in new affordable housing loans, enabling nearly 6,000 families earning less than R34,000 per month to buy homes.
The bank also facilitated R72 million in government subsidies through the Financial Linked Individual Subsidy Programme (FLISP), assisting lower-income customers earning between R3,500 and R22,000 per month.
Over the past decade, FNB has advanced more than R33 billion in affordable housing finance, benefiting an estimated 117,000 households nationwide.
“In a country facing a severe housing shortage, our affordable lending solutions are helping thousands of South Africans find dignity and security through homeownership,” said Lytania Johnson, CEO of FNB Personal Segment.
“Owning a home builds generational wealth and remains the single biggest investment most families make.”
To expand access, FNB continues to integrate government subsidy programmes such as First Home Finance (FLISP) into its lending process, reducing upfront costs and improving affordability.
The bank has also pioneered the Collective Buying Home Loan, enabling up to 12 individuals to co-purchase a property and share repayments—an innovation aimed at addressing affordability challenges in urban areas.
According to Chris Labuschagne, CEO of FNB Home and Secured Lending, “Affordable housing is fundamental to inclusive growth. By creating accessible pathways to homeownership, we’re helping South Africans build long-term financial stability.”
FNB’s strategy aligns with South Africa’s broader financial inclusion agenda, as urbanisation and rising property prices continue to intensify demand for accessible, sustainable housing.
– CAJ News