Kenya is among six African countries that will benefit from a multi-billion shilling affordable housing kitty mooted by the Nairobi-based mass housing funder Shelter Afrique.
Speaking during the approval of the 10,000-unit Kinyinya Park Estate development in Rwanda’s capital, Kigali in partnership with Rwanda Social Security Board (RSSB), Shelter Afrique said it had received applications from Kenya, Tanzania, Uganda, Zimbabwe, Ivory Coast and Nigeria for implementation of similar projects.
Chairman Steve Mainda said the firm’s focus is on achieving development impact on all large-scale housing projects and creation of value for the shareholder.
“As a board, we are providing affordable housing across Africa by embracing viable public-private partnerships such as the Kinyinya Park Estate housing project,” Dr Mainda said.
Shelter Afrique group managing director Andrew Chimphondah welcomed the development, saying Africa’s housing crisis could best be mitigated via large-scale housing undertakings.
“Our strategy places a premium on private-public-partnerships (PPPs), which we believe are critical to delivering affordable housing.
We are also exploring similar projects in Kenya, Tanzania, Uganda, Zimbabwe, Ivory Coast and Nigeria. We expect to have these projects replicated in most of our member countries going forward,” Mr Chimphondah said.
The Kinyinya Park Estate project is Shelter Afrique’s second large-scale housing development project in Rwanda after the 3,000 affordable housing units in Rugarama Park Estate in Kigali in June 2019.
The 10,000-unit project will be jointly executed by Shelter Afrique, RSSB, Development Funding Institution, Eastern and Southern African Trade and Development Bank, the Development Bank of Rwanda) and an internationally acclaimed large scale Engineering, procurement and construction Contractor.
TDB has since approved a Sh15 billion facility to enable Shelter Afrique to implement the first two phases of the project.
The project will be implemented in five phases over the next four years comprising of 200 units of commercial outlets including schools, shops and business facilities.