SHELTER AFRIQUE AVAIL US$25M FOR AFFORDABLE HOUSING PROJECT IN ZIMBABWE
Shelter Afrique has availed a US$25 million loan to the Government of Zimbabwe for affordable housing.
Addressing a press conference in Harare yesterday after a meeting with the Ministry of National Housing and Social Amenities, banks, building societies, and housing co-operatives, Shelter Afrique managing director Mr Thierno Habib Hann said the initiative will scale up housing delivery in Zimbabwe.
Mr. Hann said Shelter Afrique is a Pan African financial institution that focuses solely on financing affordable housing through financial institutions.
“Housing is at the core Centre of any economic development and it also creates employment. Across the value chain of housing you can tackle youth unemployment which is key for stability, peace and security in any country.
“We are working on four main areas that include financing financial institutions, project finance, working with sovereign agencies and management advisory services to set up thematic funds to help develop access to funding for affordable housing.
“Across all the funds we need to establish rent to own schemes which allow ready access to homes based on the rents that people are paying to reduce the cost of affordability. Funding and financing are key in achieving sustainable results,” said Mr. Hann.
National Housing and Social Amenities Minister Daniel Garwe urged small to medium enterprises to contact his Ministry for help to access the housing loans.
“The fact that Shelter Afrique has been able to extend lines of credit in excess of US$63 million for housing delivery buttresses the confidence that the bank has in Zimbabwe.
“Our local financial institutions have been able to access funding for housing delivery and have religiously and diligently honored their obligations,’’ said Minister Garwe.
He also urged the team from Shelter Afrique to sample the delights of Harare in particular and Zimbabwe at large so that they become Brand Ambassadors for Zimbabwe wherever they go across the world.
Over the years, Shelter Afrique has been providing loans to the private sector and they are now working on modalities to establish a fully fledged office in Harare.
SOURCE: ZimbabweSituation