Dar-es-Salaam, Tanzania 2ndJuly 2012 – SHELTER AFRIQUE and the NATIONAL HOUSING CORPORATION (NHC) in Tanzania have signed a US$ 14.5 million loan agreement. This is the largest facility in SHELTER AFRIQUE history to a single a borrower and is marking our commitment to continue supporting initiatives of stakeholders in the housing sector to deliver affordable units to the lower and middle income segment which is often overlooked and underserved.
The facility is earmarked to support the NATIONAL HOUSING CORPORATION strategy envisaged to construct a minimum of 15,000 low and medium class houses for sale and rental by June 2015. The partnership between SHELTER AFRIQUE and the NATIONAL HOUSING CORPORATION is a win-win situation and is creating a high momentum for both institutions to realize delivery of housing to the Tanzanian people.
During the ceremony NHC also signed facilities with various local lenders of about 145 Billion Tanzania Shillings equivalent to US$ 85 million. The facilities from the local banks are for both construction of residential units and mortgage loans to off takers. Total loans signed amounted to 165 billion Tanzania Shillings equivalent to US$ 100 million. This is the largest syndication of loans ever to a real estate institution in Tanzania.
Various Speakers urged NHC to utilize the facilities to construct affordable housing to the low and middle income groups. Shelter Afrique Managing Director Alassane BA said” “We urge NHC to ensure that houses are affordable to low and middle-income earners; we want our entire loan to be directed in constructing affordable houses,”
Speaking during the signing ceremony in Dar es Salaam, the Minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka urged NHC to ensure the houses to be constructed would be affordable to low and middle-income earners.
The ceremony was graced by the Honorable Minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka, NHC Board Members, Tanzania Bankers Association and local banks such as CRDB Bank, National Microfinance Bank (NMB), Ecobank, Azania Bank as well as Banc ABC and Commercial Bank of Africa (CBA). Tanzania Investment Bank (TIB), a development bank and a pension fund, Local Authorities Pension Fund