Pan-African housing financier, Shelter Afrique has approved an $18.5 million corporate loan to a Democratic Republic of Congo-based developer (Maison Super Development (MSD)) for three housing projects.
The five-year facility is part of urban regeneration, and is the third credit line for the company since 2016.
MSD is building office blocks in the southern city of Kolwezi and southeastern Lubumbashi, the third-biggest DRC city, where it is also putting up a housing project.
The pan–African housing lender says the three projects are expected to contribute considerably to the commercial and residential real estate in the areas.
The three-year projects covering 2022-2024 earmarked for the facility include Jumbo Office Building in Kolwezi, Alilac Office Building project and Munua Housing project both in Lubumbashi.
Shelter Afrique has been ramping up its activities in DRC through public-private partnerships and equity investments in large-scale, low-cost housing projects.
In January this year, DRC cleared its outstanding capital arrears of $1.7 million in Shelter Afrique, raising its stake in the company from 1.68% to 2.46%.
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. Shareholders include 44 African countries, the African Development Bank, the African Re-Insurance Corporation, and Fonds de Solidarité Africain (FSA).
The company’s mandate is to provide financing through debt, quasi-equity, and equity to both public and private institutions for housing and urban infrastructure projects in its member countries.
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