NCBA, Shelter Afrique ink mortgage finance deal

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Shelter Afrique affordable housing Kenya
PHOTO/COURTESY

NCBA Bank has inked a mortgage finance deal with Shelter Afrique to finance homebuyers in Nairobi, Mombasa, Kisumu, Kiambu, and Machakos counties. 

As per the deal, the lender will provide financing for over 200 housing units, in the five counties, comprising of maisonettes and apartments ranging from Ksh. 5.5 million and Ksh. 20.25

According to the lender’s Head of Property Finance Stella Mutai, the bank will continue pursuing new partnerships in order to address the country’s housing deficit.

“The huge volume of houses that our country needs will require closer partnerships to help meet the growing housing needs in our major cities and towns,” Ms. Mutai commented.

On his part, Shelter Afrique’s Group Managing Director and Chief Executive Officer, Andrew Chimphondah insisted that Kenya’s housing deficit can only be addressed through combined efforts between government and private entities.

” The huge volume of houses that our country needs will require closer partnerships to help meet the growing housing needs in our major cities and towns This cannot be accomplished by one institution- it requires a shared vision and goal. NCBA has proven to be a reliable partner time and time again and we are happy to play our part in addressing the housing shortage in Kenya,”  Mr. Chimphondah said.

Shelter Afrique operates under the concept of offering affordable, modern, and functional housing units across Africa. In Kenya, the firm is currently undertaking a number of affordable housing projects in support of the Big 4 Agenda of the Government of Kenya. 

The property finance unit at NCBA Bank seeks to provide customers with end to end solutions. NCBA Bank property loans cover purchase of plots, single residential or commercial units, purchase of multiple residential or commercial units, purchase of office blocks, Go Downs or light industrial property.

RELATED: Shelter Afrique signs MoU to upscale affordable housing projects in member states

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