EYEAFRICA TV: Banjul, The Gambia: The pan African real estate development company, TAF Africa Global has signed a memorandum of understanding (MoU) with Shelter Afrique to increase access to housing in the sub region.
The mega deal was formalized during the opening of the fifth annual Taf Africa Conference and Networking (TAFCON) at Coral beach resort in Brufut.
TAFCON as the event is called since its launch in December 2015, forms part of TAF Africa Global’s corporate social responsibility for its host communities.
Chief executive officer Mustapha Njie said the MOU with Shelter Afrique entails financing of some of their housing projects that goes as far as initiating local banks for over 10-year mortgage facility for customers in the country.
Shelter Afrique, also known as Company for Habitat and Housing in Africa, is a pan-African finance institution created to exclusively support the development of the African real estate and housing sector, with its headquarters in Nairobi, Kenya.
“We empower members of our host communities and develop their capacities. We have successfully done this in Nigeria and here in The Gambia,” he said.
Mr Njie said they have redefined their goals to build 1 million homes over 20 years which include minimum of 1000 homes in The Gambia.
“This year, we have launched four estates with a combined total of 5000 homes. We have also been working on succession planning and strengthen our corporate governance, so the company continues to grow well.”
Managing Director of Shelter Afrique, Andrew Chimphondah said their vision is to provide affordable housing to everyone in Africa, saying they have a clear vision to be the provider of financial and research solutions, solving housing crisis for sustainable development.
Mr Chimphondah said their presence in The Gambia targets contribute to reducing housing crisis that stands at 56 million units that requires at least $3 trillion to solve.
Story written by Binta Badjie