Browsing: Affordable housing in Africa

• Shelter Afrique Development Bank (ShafDB) and the Bourse Régionale des Valeurs Mobilières (BRVM) will tap Green, Sustainability-linked, and Social (GSSS) bonds to finance housing.
• Green bonds will fund eco-friendly housing projects while social bonds will finance projects that prioritize affordability and accessibility.
• At the same time, sustainability-linked bonds will support both objectives, ensuring a comprehensive strategy for tackling the current housing crisis.

Shelter Afrique Development Bank (ShafDB) has taken a new step toward addressing affordable housing needs in Africa through a partnership with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for the West African Economic and Monetary Union (WAEMU).

In a Memorandum of Understanding (MOU), the Pan-African institution focused on affordable housing, signed the deal on the sidelines of the IMF-World Bank Annual Meetings in Washington, D.C., aiming to mobilize capital for affordable housing projects across the continent, particularly in WAEMU’s eight member countries.

With Africa’s …

• From ports to railways, Tanzania’s investment in infrastructure is on the rise post-pandemic.
• Tanzania is constructing a $1.9 billion railway which is part of 1,219-kilometer railway network.
• Shelter Afrique reports that Tanzania’s housing needs is at an estimated 200,000 units per year.

With a market value estimated at over $27.1 billion and an estimated annual growth in excess of 6 per cent, a construction boom is taking shape in Tanzania.

Granted these figures have dropped since the Covid-19 global economic slump but nonetheless, recovery is well underway. During the Covid-19 slowdown, data from the Bank of Tanzania shows that credit to the construction sector declined by 11.9 per cent. In 2021 loans to businesses and agriculture declined by 10.3 per cent and 8.1 per cent, respectively.

However, given the fact that Tanzania has placed public works among its top priorities, the sector is recovering rapidly. Annual investment in building infrastructure …

• Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC
• The 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing
• Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units)

Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC.

According to the Pan-African housing development financier, the 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing.

Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units).

The other USD9.75 will be …