Shelter Afrique is developing a Sovereign Lending product to supplement its traditional products that attend to both the demand and supply sides of the housing value chain, the pan-African housing development financier has disclosed.
Speaking in Nairobi, Shelter Afrique Ag. Managing Director Kingsley Muwowo said Africa’s GDP contraction resulting from COVID-19 was an alarming sign of a slump in the inclusive housing goals in many countries and thus the need by the Company to respond to the risk of a possible governments’ disengagement while revitalizing its financial agility.
“The COVID p******c has brought in an era of economic distress throughout Africa with an average of -3.6 per cent recession in 2020, the first recession in SSA in 25 years. In response, Shelter Afrique recently reviewed its corporate strategic plan with the aim of aligning itself to its members’ priorities and position the company for better performance and enhanced development impact. One of the result of this strategy review is the decision to develop a Sovereign Lending product to serve our member states,” Mr Muwowo said.
Currently, the Company offers various products and related services including project finance, institutional lending, equity investments & j***t ventures, trade finance, and social housing, to support the delivery of affordable housing and commercial real estate.
