Harare, (New Ziana) – Zimbabwe will host the southern Africa region headquarters for Shelter Afrique, a pan-African housing and real estate finance institution, which is also currently considering reviewing the country’s credit facility upwards, a cabinet minister said on Tuesday.
The Nairobi based institution, currently has 44 African countries as its members and works in partnership with the African Development Bank (AfDB) and the Africa Reinsurance Company.
To date, the institution, which has been in operation for 36 years, has supported over 17 572 projects on the continent.
Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa told a post Cabinet briefing that Zimbabwe will also host the 41st annual general meeting of the housing finance institution in 2022.
“Cabinet agreed to the proposal by Shelter Afrique to construct its Regional Headquarters in Harare, to be officially opened in 2022,” she said.
“Cabinet noted with satisfaction that Shelter Afrique is considering to review Zimbabwe’s credit facility upwards, and negotiations on the matter will commence soon.”
At its last AGM held last month, Zimbabwe was elected the institution’s second vice chair.
In 2018, the institution approved loans amounting to US$1.147 billion.
The institution offers products and related services to support the efficient delivery of affordable housing and commercial real estate which include project finance, institutional lending, equity investments & joint ventures, trade finance, and social housing.