Browsing: Affordable housing projects

Shelter Afrique HQ Drone Image

Shelter Afrique has signed an US$11 million housing deal with Harare-based African Banking Corporation (BancABC).

The Pan-African housing development financier which was established by African governments to address the need for sustainable housing delivery system and related infrastructure projects in Africa announced on Tuesday, June 8, 2021, that the facility will be used for the construction of 2,500 residential housing units.

Through a press statement sent to newsrooms, the institution said the deal will also facilitate mortgage origination, home extension & improvement; onward lending to affordable housing projects; and financing small-scale commercial projects such as small shopping malls.

African Banking Corporation of Zimbabwe Limited (“BancABC”) is part of ABC Holdings Limited (ABCH), a Botswana-incorporated company. ABCH was created by the amalgamation of regional and international businesses that had been active in the sub-Sahara financial markets for 50 years.

Housing backlog in Zimbabwe

According to shelter Afrique Group Managing Director and …