This archive report was first published on 25 July 2019.
On July 25, 2019, Shelter Afrique and the Terwilliger Centre for Innovation in Shelter (TCIS) signed a memorandum of understanding to mobilise affordable home loans targeting low-income and middle-income earners in Kenya and 43 other African countries.
The partnership aims to establish an incremental building fund for Africa, provide capacity building in housing microfinance, and offer technical assistance. This collaboration will enable the two institutions to jointly facilitate efficient and inclusive housing market systems, making affordable housing a reality across Africa, especially in the lower end of the housing market.
According to Andrew Chimphondah, Shelter Afrique's CEO, the partnership will make it easier for the two institutions to work together, leveraging their expertise to provide innovative financing solutions for housing development on the continent. Chimphondah noted that research conducted by Shelter Afrique's Centre of Excellence has shown that the penetration of housing mortgage throughout Africa is quite low, making it essential to explore alternative financing options.
Elena Milanovska, Associate Director for Capital Markets and Financial Inclusion at Habitat for Humanity, stated that the partnership with Shelter Afrique is a 'perfect match'. Habitat for Humanity has established a USD100 million micro-build fund that supplies debt capital and technical expertise to help microfinance institutions increase the availability of housing loan products for low-income customers.
