VENTURES AFRICA – Kenyan real estate developer, Home Afrika has signed an agreement with Shelter Afrique, a Pan-African mortgage lender, for construction of houses for the mass market in East Africa.

The deal will see Home Afrika exploit the mortgage financer’s huge presence across the continent and its deeper access to capital that will help fund the low-cost housing construction project.

“They will primarily be giving us the finances to do the implementation for our ‘Go Africa Strategy’,” Dan Awendo, a director at Home Afrika, told the Business Daily in an interview.

An official listing statement revealed that through its ‘Go Africa’ strategy, the company will be seeking to take advantage of the regional economic growth by expanding into Tanzania, Uganda, Southern Sudan, Ethiopia and Rwanda.

It revealed that the company has three new projects in the pipeline, including Kikwetu in Machakos County which will be an estate with 10,000 units targeting the middle and lower income bracket.

The property developer, which has listed 405.3 million shares, says it plans to build one million homes in the next 10 years across Africa in partnership with Shelter Afrique.

Shelter Afrique ordinarily finances up to 60 per cent of projects, while the developer raises the rest of the funding.

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