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LEASE RENTAL TRUST

LEASE RENTAL TRUST. Singisi and Siyaqhubeka leases signed in 2001 Amathole and Mountain to Ocean (MTO) signed in March 2005 Lease rentals due to rightful owners of the land i.e. Land claimant communities Tenure reform beneficiaries. LEASE RENTALS. Rentals collected up to date:

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LEASE RENTAL TRUST

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  1. LEASE RENTAL TRUST Singisi and Siyaqhubeka leases signed in 2001 Amathole and Mountain to Ocean (MTO) signed in March 2005 Lease rentals due to rightful owners of the land i.e. Land claimant communities Tenure reform beneficiaries

  2. LEASE RENTALS • Rentals collected up to date: • Singisi Forest Product (SFP) = R26.9 m • Siyaqhubeka Forests (SQF) = R26,5 m • Amathole Forestry Company (AFC) = R1,0 m • Mountain to Ocean (MTO) = R1,7 m • Total = R56,1 million • The rental are invested for rightful owners • Will be paid with interest accrued

  3. IDENTIFICATION OF LAND OWNERS • DLA Regional Land Reform offices • DWAF assisted the DLA offices to identify adjacent communities with land rights in all areas affected • DLA has to finalize the process according to their Interim procedures • DWAF and DLA to assist communities to form legal entities to receive rentals

  4. LAND OWNERS CONTINUED • Regional Land Claims Commission offices • Through DFID funding DWAF assisted the following commissions to fast track research on Land Claims: Mpumalanga, Limpopo, & Eastern Cape • Since then no land claim has been settled on the affected areas • Some are gazetted but no finalization

  5. ESTABLISHMENT OF TRUST • The trust will be established to manage the lease rentals • Invest these monies on behalf of communities • Assist communities to form legal entities e.g. Trusts, CPA’s • Pay over the monies to communities • Assist them in managing their monies

  6. ESTABLISHMENT CONTINUED • Make sure that communities have financial systems that can be audited (PFMA) • Continue to collect rentals on behalf of communities • Managed separately from the normal financial systems of the Department • Administrative mechanics agreed with Treasury • Audited on an annual basis

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