Shelter Afrique approves $18 million loan for housing projects in DRC
The $18.5 million corporate loan to the Democratic Republic of Congo-based developer was set up for three housing projects, as part of the country’s urban regeneration.
The contract was awarded to the Lubumbashi real estate agency, Maisons Super Development. Based in Katanga, this real estate agent plans to use the loan for the construction of office buildings in the southern city of Kolwezi and south-eastern Lubumbashi.
Shelter Afrique Acting Managing Director Kingsley Muwowo said; “Lubumbashi and Kolwezi are two cities that are gradually transforming into major cities in the DRC. The funding facilitates the creation of a mix where affordable housing exists with commercial space to stimulate business activity and employment.
In response, the Managing Director of Super Development Houses, Dharmendra Kumar, expressed his gratitude for the partnership, stressing the importance of the loan for the urban development of the targeted areas.
“We are grateful for this partnership which will allow us to change the face of Lubumbashi and Kolwezi one accommodation at a time. said Dharmendra Kumar.
Shelter Afrique aims to seek investment opportunities in its 44 African member states. This is part of the company’s initiatives to ensure that the amount of infrastructure available to Africans meets its growing population.
Just last week, the financier approved a $19.5 million line of credit to Mixta Afrique for affordable housing projects in Nigeria.
Prior to the $18 million loan to Maisons Super Development, Shelter Afrique was making its presence felt in the Democratic Republic of Congo, through public-private partnerships and equity investments in large-scale, low-cost housing projects. . The company injected $11.4 million into a lender for mortgage financing.