DRC’s Urban Regeneration

Shelter Afrique, a Kenyan-based real estate financial institution has approved a loan for housing projects in the Democratic Republic of Congo. The $18.5 million corporate loan to the Democratic Republic of Congo-based developer has been set out for three housing projects, as part of the country’s urban regeneration. The contract was awarded to the real estate agency in Lubumbashi, Maisons Super Development. Based in Katanga, this real estate agent plans to use the loan for the construction of office blocks in the southern city of Kolwezi and southeastern Lubumbashi. Prior to the $18 million loan to the Maisons Super Development, Shelter Afrique has been making its presence felt in the Democratic Republic of Congo, through public-private partnerships and equity investments in large-scale and low-cost housing projects. Shelter Afrique has the objective of seeking out investment opportunities across its 44 member African states. This is part of the company’s initiatives to make sure the number of infrastructures available to Africans, meets its growing population. Just last week, the financier approved a USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria.

SOURCE: BUSINESS INSIDER

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