NCBA Bank has signed a partnership deal with
pan-African housing development financier Shelter Afrique to provide
mortgage finance to buyers in five counties.
Under the agreement, NCBA will offer mortgage finance to over 200
housing units developed by Shelter Afrique and spread across Nairobi,
Mombasa, Kisumu, Kiambu and Machakos counties.
The developments include maisonettes and apartments ranging from Ksh 5.5million to Ksh 20.25 million.
Speaking on the partnership, Shelter Afrique’s Group Managing Director
and Chief Executive Officer, Andrew Chimphondah said Shelter Afrique’s
strategic focus is on rapidly closing the housing deficits that are
prevalent across Africa.
“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.
Commenting on the agreement, NCBA’s Head of Property Finance Stella
Mutai said the bank will continue to seek partnerships in order to
improve access to housing within the country and the region.
“This is an exciting partnership with Shelter Afrique as we work
together to bridge the housing gap across the country and the region.
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,” said Stella.
Shelter Afrique offers a range of housing products in Kenya and across
the continent with a focus on affordable, modern and functional units
fitted with the most advanced construction solutions within
master-planned communities. In Kenya, Shelter Afrique has a portfolio of
existing projects and is rolling out several new housing developments in
support of the Big 4 Agenda of the Government of Kenya.
Shelter Afrique is a wholesale market maker both on the supply and
demand sides of the housing sector. Its primary interventions are the
financing of large-scale affordable housing projects on the continent
and the supply of long-term finance for mortgages.
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