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 H.E 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 Minister Mukala said.
Hann said the signing of the MoU was very significant in setting out a pragmatic road map that ensures the realization 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,” Hann said.
Last year, Shelter Afrique extended a US$18.5 million commercial loan to Katanga-based real estate development company, Maison Super Development (MSD). The 5-year facility guaranteed by A-ONE BUILDERS, will finance three on-going projects in the cities of Lubumbashi and Kolwezi.
