Live Easy (IFC-51747)

Countries
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 15, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Pula SPV
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 11.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 194.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2026

Disclosed by Bank Jul 17, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

 

According to bank provided information, IFC is considering an investment package of up to ZAR300 million (~US$18 million) in a special purpose vehicle (“Pula SPV”), managed by Live Easy Property Management (Pty) Ltd (“Live Easy” or “the Company”), a South African property development and management company specializing in affordable urban rental housing (the “Project”).

The Company’s offering is based on a “nano-unit” concept — compact, self-contained apartments with a kitchenette and bathroom. Live Easy’s model involves acquisition of underutilized or distressed office buildings and converting them into residential rental assets, typically complemented by amenities such as laundromats, gyms, common areas, and Wi-Fi.

To date, Live Easy has delivered 5,516 nano units and has additional units currently under development. These projects have been financed through a series of  standalone SPVs backed by South African institutional investors, with Live Easy serving as investment and property manager, whilst its parent company, Twentyfive 15 (Pty) Ltd (“Twentyfive”), provides development management services.

Proceeds will be used by the Pula SPV to acquire and refurbish/convert properties into additional affordable nano rental units and to fund related project costs, targeting low- and middle-income households primarily in Johannesburg and Pretoria.    

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

 

The total project cost is estimated at ZAR3.2 billion (~US$194 million) and will be financed through a combination of equity, quasi-equity and debt.    

IFC’s proposed financing package will comprise (i) a quasi-equity investment via a ZAR175 million preference note (~US$11 million) and (ii) an equity investment of ZAR125 million (~US$7 million) in common shares of Pula SPV, for IFC’s own account.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

 

Live Easy is a wholly owned subsidiary of Twentyfive, which is owned 60% by Mr. Jeffrey Froom and 40% by Mr. James Huff (together, the “Sponsors”) through their respective family trust vehicles.

The shareholders of the Project company (the Pula SPV) are expected to include Twentyfive (4.5%), Kagiso Capital (24%)—an existing institutional investor in a prior SPV—IFC (up to 20%), and other institutional investors (51.5%). These shareholdings are indicative, as fundraising for the Pula SPV is ongoing; however, IFC’s common equity participation will be capped at 20%.   

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Live Easy Property Management (Pty) Ltd Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

 

For Inquiries About the Project, Contact

Live Easy
James Huff
Mr
011 201 4641
james@live-easy.co.za
61 Oxford Road, Saxonwold, Johannesburg
www.live-easy.co.za

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works