Shelter Afrique Partners AIHS, NMRC, FHF, Developers To Address Housing Shortage In Nigeria

Pan- Africa’s leading finance institution, Shelter Afrique says its partnership with the Abuja International Housing Show, Nigeria Mortgage Refinance Company, Family Homes Funds and other local institutions will help reduce the huge housing deficit in Nigeria.
Shelter Afrique’s Managing Director, Mr. Andrew Chimphondah stated this at a one-day Sensitization Forum on Lands, Housing and Urban Development, organised by the Federal Ministry of Works and Housing on Thursday with the theme: “Achieving National Housing and Urban Development Goals: Opportunities For Partnership And Collaboration.”
Chimphondah said ‘’ For us at Shelter Afrique, because of the shortage of housing, 57 million in Africa and looking at Nigerian Market, we estimate it to be 22 million. It means we have a crisis. To resolve 57 million housing deficits in Africa alone, we need at least 2 trillion US Dollars. So as a result we believe that through the partnerships and collaboration with the local institutions here in Nigeria, we will be able to make a huge progress in terms of reducing the crisis.’’
He explained that Shelter Afrique is collaborating with the NMRC through an intervention and support programme with Nigerian banks through a line of credit already approved so as to enable more Nigerians have access to mortgage loans that will lead to home ownership.
He further said that Shelter Afrique is supporting Micro Finance Institutions to enable Nigerians access mortgage loan to build their own houses where they have already had access to land.’
While highlighting some other partnerships the Nairobi based Institution is involved in, in Nigeria,Chimphondah said, “We are pushing for Public Private Partnerships, so we will work with the likes of Family Homes Funds, because they need to deliver 4000 units of low cost high quality housing. We are also working with Nigerian developers that are committed to building low cost high quality housing like Echostone and many others. It is only through collaboration and partnership that we can provide meaningful contributions to reduce the shortage of housing in Nigeria and Africa.’’
He lauded the Abuja International Housing Show in its role in providing a credible platform for all stakeholders in the built environment to come together to share innovation, collaborate and also get funding for affordable housing provision.
He noted that Shelter Afrique is proud to be a partner with the Abuja International Housing Show,saying its growing prominence is a testament to its relevance.
Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa.
A partnership of 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company, Shelter Afrique build strategic partnerships and offer a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.