Mass home-ownership comes to Karibib

A total of 240 houses in Karibib belonging to QKR Namibia Navachab Gold Mine will be sold to employees, the mining company said this week. The Mine’s board of directors approved the sale.

The remaining time of life span of the mine is ten years and should mining activities cease the town’s houses would be owned by the employees.
Despite the ten years lifespan, various projects are ongoing to ensure the mine can expand and continue production beyond this ten-year limitation.
The Managing Director QKR Navachab Gold Mine, George Botshiwe, said the sale of the houses to the employees is the mine’s way of ensuring that its workers have a home after retirement. In this way a situation will be prevented where people that reached retirement age are not yet owning a house.
“We have seen this when we offered people voluntary separations in the past. Those close to retirement age had nowhere to go”.

Botshiwe added Navachab has properties across Karibib, which are occupied by the workers at no cost. Free housing is part of employment conditions of Navachab.
According to Botshiwe, house prices are ranging from N$200 000 for a standard one- to two-bedroomed houses in Usab location. In other parts of the town prices can go up to N$1 million for executive houses. The Mine is also looking into offering employees housing allowances, to offset cost of mortgages.
The houses have already been evaluated and will be offered at affordable rates to the employees so they can arrange for financing on their own.

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