Shelter Afrique signs MOU with iBUILD to support funding for PPP projects

Nairobi: September 10, 2019 – Pan African housing development financier, Shelter Afrique has signed a memorandum of understanding (MOU) with fin-tech startup iBUILD Global, to collaborate in sourcing for funding for affordable housing and managing its housing projects in member States.

The MOU signed in Nairobi by Shelter Afrique’s Chief Executive Officer Andrew Chimphondah and iBUILD’s Co-founder and Chairman Lew Schulman, opens ways for collaboration between Shelter Afrique and iBUILD by way of the latter assisting Shelter Afrique to raise capital in the form of new Class C shareholders to enable Shelter Afrique to fund Pubic Private Partnership (PPP) projects.

  • The partnership will also see iBUILD offer technical support in management of housing project in markets where Shelter Afrique has presence.
  • The partnership will also see iBUILD offer Shelter Afrique a platform that it enable it offer virtual training, accreditation, and certification to its contractors and developers in Kenya and other 43 member states.

The iBUILD will also assist Shelter Afrique to raise capital for a fund to be created to specifically provide construction finance to contractors and developers delivering housing to low and middle-income population.“This MOU now sets pace for Shelter Afrique to work closely with iBUILD to create collaterals and joint pitches towards raising capital through development funds to be managed by Shelter Afrique,” said Mr. Chimphondah said.

According to the MOU, iBUILD will also provide its patent pending platform for project management capabilities over entire portfolio of Shelter Afrique’s projects as well as a transparent accounting of all funds disbursed.
Through this partnership, iBUILD will manage the delivery of a platform to Shelter Afrique for the purpose of adopting the technology for all its housing related lending and offering technical assistance to its contractors and developers involved in PPP projects,” Mr. Schulman said.

Mr. Schulman said the customization of iBUILD’s Lender platform for Shelter Afrique, will give the latter the ability to report data on projects in real time as well as report the impact its financing is creating throughout the projects it supports.

“The iBUILD tools will help shelter Afrique reduce loan approval time and have greater oversight and real time quality control of project it finances,” Mr. Schulman added.
Mr. Chimphondah said the partnership would be beneficial in expanding Shelter Afrique’s capacity building programme and support its Centre of Excellence.

“In April this year, Shelter Afrique launched its Centre of Excellence where we train contractors and developers undertaking PPP projects. The platform will enable us to offer training, accreditation, and certification to these contractors and developers across 44 member states without necessary coming to Shelter Afrique headquarters in Nairobi. Secondly, the platform will help Shelter Afrique improve transparency for investors – investors want to know how their money is being invested and this platform will be vital for us in updating them,” Mr. Chimphondah said.

About iBUILD

iBUILD is a mobile platform that closes the gap in affordable housing production by Empowering the World to Build. iBUILD is a C2C market disruption tool that connects people in need of shelter with masses of construction-related people looking for work and facilitates open access to housing support services that guide individuals through the housing (re)construction process.

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