Foreign investors were nervous about the undertaking by financial institutions to help ensure housing finance for the poor irrespective of their HIV status, the Banking Council of SA said on Thursday.
”The foreign investment community is very jittery about this,” chief executive Bob Tucker told reporters in Johannesburg.
He was referring to the signing of a declaration by the four social partners in the National Economic, Development and Labour Council (Nedlac) on Tuesday.
The agreement is aimed at eradicating discrimination against groups like the poor and HIV-positive people with regards to access to financial services.
The sectors — government, labour, business and community — signed the document at the end of Nedlac’s financial sector summit held in Pretoria.
Tucker said banks could only survive in an atmosphere of domestic and international confidence.
The Nedlac agreement should be viewed in a positive light but it was hard to explain that to foreign investors.
”You and I know that it is all about a huge, very poor, previously disadvantaged community and how to get them genuinely empowered. That is the issue.”
He said a message should be sent that investors should take the trouble and try to understand what happened on Tuesday.
”It was a very significant event, very positive, it shows a willingness (between banks and the government)
to work together.”
Tucker said the banks were committed to the Nedlac agreement. ”They are willing to take pain.
”There still are a lot of risks and it’s going to be bumpy. We’re not going to get jumpy about things, we’re going to get through it.” – Sapa