Shelter Afrique Budgets $180m For Housing Project

A non-governmental organisation (NGO), Shelter Afrique, said it will invest $180 million over the next five years toward addressing Nigeria’s housing deficit.

Its Managing Director, Mr Andrew Chimphondah, who spoke in Abuja, said the investment period would span between this year and 2024.

He said Nigeria was a strategic market for Shelter Afrique. He said the group’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: “We are looking at the demand and supply side of housing. For the supply side, we will enter into Public-Private-Partnership (PPP) 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.”

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

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