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NHE and Shelter Afrique sign MoU

Summary

The National Housing Enterprises (NHE) and Shelter Afrique on Friday signed a memorandum of Understanding (MoU), which will see Shelter Afrique avail funds to support NHE housing projects.Shelter Afrique is a pan-African finance institution that exclu…

The National Housing Enterprises (NHE) and Shelter Afrique on Friday signed a memorandum of Understanding (MoU), which will see Shelter Afrique avail funds to support NHE housing projects.

Shelter Afrique is a pan-African finance institution that exclusively supports the development of affordable housing and real estate sector development in Africa, with its headquarters in Nairobi, Kenya.

NHE Chief Executive Officer, Gisbertus Mukulu, said the Namibian housing situation is attributed to the scarcity of available land, which pushes up the prices of serviced land and slows down the process of housing delivery. He said he thus hopes the combined efforts between the two institutions will make a difference in finding solutions to the delivery of affordable housing.

‘Let us, therefore, pull together as stakeholders in the housing sector, let's re-dedicate ourselves as government and the private sector, to continue to work towards our developmental objectives and the goal of creating a Namibian House where no one will feel left out,’ said Mukulu.

Shelter Afrique Managing Director, Andrew Chimphondah, who spoke at the same occasion, said there are 44 African countries that have shares in Shelter Afrique and two banks (Africa Development Bank and African Banking Corporation Limited), and Namibia has two shares in the institution after paying US.dollars 3.4 million for the shares in the early 2000s.

“We fund and build houses through Public-Private Partnership because we believe that it is the only way we can achieve affordable housing. Our survey at Shelter Afrique in 2020 indicated that the housing shortage in Africa is estimated to be at 56 million units, with one unit estimated to cost US.dollar 26 000, which is not affordable to one government, but through a Public-Private Partnership it can be achieved,” said Chimphondah.

Source: Namibia Press Agency