Shelter Afrique moves to invest $180m in housing

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Shelter Afrique, an NGO, is to invest 180 million dollars in five years to address Nigeria’s housing deficit, Mr Andrew Chimphondah, its Managing Director, said on Tuesday in Abuja.

Chimphondah said that the investment period would span from 2019 to 2024.

He said that Nigeria was a strategic market for Shelter Afrique, adding that the outfit’s shareholders included 44 African countries and two financial institutions.

According to him, Shelter Afrique provides loans, grants and credits for the development of the environment and the provision of houses for Africans.

Chimphondah said that Nigeria had 70 to 20 million estimated housing  shortage.

“We are looking at the demand and supply side of housing. For the supply side, we will enter into Public-Private-Partnership with government with government providing land and subsidised infrastructure.

“Our organisation will provide the funding and expertise to carry out the project.

“We will commit and dedicate all the expertise to ensure that quality houses are delivered; we will also ensure that the houses are energy efficient, environmental friendly and comfortable,” he added.

Chimphondah said that most financial institutions had often complained of funding, but assured Nigerians that the NGO would fashion out a way to reduce the cost of the houses.