Tuesday 20th August 2019
Tuesday, 20th of August 2019
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Shelter Afrique to invest $180m in five years to check housing deficit

Shelter Afrique, an NGO, is to invest $180 million in five years toward addressing Nigeria’s housing deficit, Mr Andrew Chimphondah, its Managing Director, has said.

Andrew Chimphondah
Andrew Chimphondah, Managing Director, Shelter Afrique

Chimphondah told the News Agency of Nigeria (NAN) in Abuja on Tuesday, August 13, 2019 that the investment period would span from this year to 2024.

He described Nigeria as a strategic market for Shelter Afrique, adding that the outfit’s shareholders included 44 African countries and two financial institutions.

According to him, Shelter Afrique provides loans, grants and credits for the development of the environment and the provision of houses for Africans.

Chimphondah said that Nigeria had 70 to 20 million estimated housing shortage.

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“We are looking at the demand and supply side of housing. For the supply side, we will enter into Public-Private-Partnership with government with government providing land and subsidised infrastructure.

“Our organisation will provide the funding and expertise to carry out the project.

“We will commit and dedicate all the expertise to ensure that quality houses are delivered; we will also ensure that the houses are energy efficient, environmentally friendly and comfortable,” he added.

Chimphondah said that most financial institutions had often complained of funding, but assured Nigerians that the NGO would fashion out a way to reduce the cost of the houses.

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By Franca Ofili

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