Shelter Afrique, DRC Partner To Provide Affordable Housing In Africa

Shelter Afrique, the Pan-African housing development financier, has joined hands with the Democratic Republic of Congo (DRC) to forge a new era of affordable housing.

The memorandum of understanding (MoU) signed today in Kinshasa promises not only to reshape the DRC’s housing landscape but also set a powerful precedent for public-private partnerships across Africa.

Speaking at the signing ceremony, Shelter Afrique’s Managing Director, Thierno Habib Hann, underscored the significance of the moment, stating, “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.”

Under the terms of the MoU, Shelter Afrique will provide crucial funding for identified projects, in addition to taking the lead in securing supplementary funding through syndication.

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The housing development financier will also lend its expertise to institutions under the Ministry of Housing in the DRC, aiding in the implementation of large-scale affordable housing projects throughout the country.

Furthermore, Shelter Afrique will collaborate with the DRC government in conducting an in-depth assessment of its real estate market.

Minister for Urban Planning and Housing, H.E. Pius Muabilu Mbayu Mukala, expressed his optimism, stating, “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 as contribute to the achievement of Sustainable Development Goals.”

This partnership isn’t Shelter Afrique’s first foray into bolstering affordable housing in the DRC. Last year, they extended a USD 18.5 million commercial loan to Maison Super Development (MSD), a Katanga-based real estate development company.

The 5-year facility, guaranteed by A-ONE BUILDERS, is financing three ongoing projects in Lubumbashi and Kolwezi.

Shelter Afrique, established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa, has now set the stage for a brighter future in housing for the people of the DRC and the continent as a whole.