Pan-African real estate financier Shelter Afrique on Monday signed a partnership with Kenyan based regional lender NCBA Bank to improve access to affordable homes in Kenya.
Andrew Chimphondah, CEO of the Shelter Afrique, said in a statement that under the agreement NCBA will offer mortgage finance to over 200 housing units it has developed that are spread across five counties.
“Our strategic focus is on rapidly closing the housing deficits that are prevalent across Africa, this cannot be accomplished by one institution, it requires a shared vision and goal. NCBA has proven to be a reliable partner time and time again, and we are happy to play our part in addressing the housing shortage in Kenya,” Chimphondah said.
Shelter Afrique said that it has a large portfolio of existing projects and is rolling out several new housing developments in support of the country’s national development blueprint, the Big four Agenda.
Chimphondah said that its primary interventions are the financing of large-scale affordable housing projects on the continent and the supply of long-term finance for mortgages.
Stella Mutai, Head of Property Finance NCBA said that the bank will continue to seek partnerships in order to improve access to housing within the country and the region.
“This is an exciting partnership with Shelter Afrique as we work together to bridge the housing gap across the country and the region,” said Stella.
“The huge volume of houses that our country needs will require closer partnerships to help meet the growing housing needs in our major cities and towns,” Stella added. Enditem