Pan-African housing development financier, Shelter Afrique, has signed a Memorandum of Understanding (MoU) with the government of the Democratic Republic of Congo (DRC) to scale up the development of large-scale affordable housing projects in the country.
Under the MoU, which was signed in Kinshasa by Shelter Afrique Managing Director, Thierno Habib Hann, and the Democratic Republic of Congo Minister for Urban Planning and Housing, Pius Muabilu Mbayu Mukala, Shelter Afrique will provide part-funding for the identified projects, as well as act as the lead arranger for the syndication of additional funding.
The company will also provide technical and advisory assistance to institutions under the ministry of housing such as the Congolese Agency for Property Development (ACOPRIM), the National Housing Fund (FONHAB) and the Single Window, GUICHET UNIQUE, to build their capacities in implementing large-scale affordable housing projects throughout the country. It will also assist the DRC government in developing an in-depth assessment of its real estate market.
“The MOU we’ve signed with Shelter Afrique opens a new phase of partnership and will be crucial in achieving our housing goal, as well contribute to the achievement of Sustainable Development Goals,” the Mukala said.
Commending the government of the Democratic Republic of Congo for her unwavering support, Mr. Hann said the signing of the MoU was very significant in setting out a pragmatic road map that ensures the realisation of the delivery of a critically important large scale low-cost housing projects which will serve as a benchmark for the deployment of public-private-partnerships as a conduit to implement high-volume, low-cost housing programs in the country.
“We have redefined our overriding strategy as a company, which is now more focused on the provision of low-cost affordable houses across our member states through public-private partnerships. This MoU with the Government of DRC will be key in expanding our projects across DRC and the continent,” Mr. Hann said.
Last year, Shelter Afrique extended a $18.5 million commercial loan to Katanga-based real estate development company, Maison Super Development (MSD). The five-year facility, guaranteed by A-ONE BUILDERS, will finance three on-going projects in the cities of Lubumbashi and Kolwezi.
Shelter-Afrique is a Pan African housing finance and development institution established by African Governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa.
The Institution provides financial solutions and related services to support the supply and demand side of the affordable housing value chain. It also provides advisory and project management services for large-scale affordable housing projects.