Shelter Afrique to help address housing in Namibia

11 Oct 2018 06:10am
WINDHOEK, 11 OCT (NAMPA) – The managing director of Shelter Afrique (SHAF), Andrew Chimphondah has extended a promise to help Namibia address its housing problems.
Chimphondah made this commitment on Wednesday when he paid a courtesy call on Minister of Urban and Rural Development, Peya Mushelenga, saying SHAF is ready to make houses accessible and affordable in Namibia.
Shelter Afrique is a Pan-African finance institution dealing with providing affordable housing finance and advisory solutions in Africa, and the minister explained that the objective of SHAF in Namibia is to finance and support the development of housing and urban infrastructure.
“Namibia has contributed to SHAF’s capital subscription call and has been a very active member of the board and we are keen to begin new business in Namibia after a period of reorganisation and transition,” Chimphondah said.
He further said SHAF is also interested in lines of credit as there is a well-developed mortgage market in Namibia.
“The company can strengthen the market by financing microfinance banks to make housing loans more accessible and affordable.”
He said between 2004 and 2005, SHAF financed projects in Namibia such as the Rhino Park Housing and Partey’s Court projects.
Chimphondah noted that the company recently rolled out its new 2018-2023 strategies anchored on increasing its capital base, large-scale developments through private-public partnerships and an engaged, committed staff.
“Namibia, together with 43 other African governments, the African Development Bank and African Reinsurance Corporation are shareholding members of SHAF,” Chimphondah indicated.
(NAMPA)
BK/PS/AS