Shelter Afrique’s $9m to provide homes for Ugandans

Shelter Afrique has signed a $9 million loan agreement with Uganda’s National Housing and Construction Company (NHCC) for construction of low-cost housing in the country.

The Pan-African urban housing financier said the money will help boost the supply of houses.

Shelter Afrique acting managing director Yekini Olayanju and NHCC chairperson Agnes Kalibbala signed the agreement on Monday in Nairobi.

“The project finance facility agreement between Shelter Afrique and NHCC Uganda is a step in the right direction and marks an important milestone for the two institutions. We are committed to supporting Uganda in rolling out housing projects through a public private partnership that will pave the way for possible increase in capital subscription to ensure effective intervention for shelter Afrique in the Ugandan markets,” Mr Olayanju said.

Uganda Minister for Housing Daudi Migereko said the government will have to find ways to make the cost of housing materials cheaper to enable more set up homes.

“This signing (of agreement) is the culmination of a hard work, a very big step and the beginning of a long and mutually beneficial relationship between Shelter Afrique and National Housing and Construction Company of Uganda,” Ms Kalibbala said.

She said housing in the country is one of the biggest problems adding that the loan will assist people to access affordable homes.