Shelter Afrique plans Rwf5.9 billion investment in Rwanda’s housing industry

Shelter Afrique, a pan-African housing finance and development institution is planning to invest US$10 million in Rwanda’s housing industry, according to the Mayor of Kigali, Dr Aisa Kirabo Kacyira. But the investment will depend on whether Shelter Afrique secures a strategic partner. Shelter Afrique says that it will help KCC to attract more private developers to boost investments in Rwanda’s real estate industry, which faces a huge shortfall. Statistics suggest that Rwanda needs more than 25,000 residential houses every year. Only about 300 are provided. Alassane BÂ, the Managing Director of Shelter Afrique said that his institution is committed to work closely with KKC, private developers, financial institutions and government in order to ensure delivery of affordable houses. This will possibly help to the address the current housing shortage countrywide. “When you talk about housing, it’s always partnership and it requires a lot of things which through different partners can be provided,” he said, in a press briefing at KCC headquarters in Kigali to highlight his visit in the country. Shelter Afrique has been particularly impressed by the Kigali Master Plan as well the country’s overall policies that are conducive for creating a good platform in order to promote business. Recently Shelter Afrique invested US$12 million (Rwf7.1 billion) through housing bank, in a two year loan at an interest rate of 8.5 percent. Ends