ShafPress

Shelter Afrique extends USD 18.5 million Corporate Loan to MSD for housing projects in DRC

– The loan has been guaranteed by A-ONE BUILDERS, a construction firm that has worked with several government entities in DRC as well as the Central Bank of Congo.

Nairobi: September 19, 2022

Pan-African housing development financier Shelter Afrique Board has approved a USD18.5 million commercial loan to Katanga-based real estate development company, Maison Super Development (MSD).

The 5-year facility guaranteed by A-ONE BUILDERS, will be used to finance three on-going projects in the cities of Lubumbashi and Kolwezi in the Democratic Republic of Congo.

The projects earmarked for the facility include Jumbo Office Building in Kolwezi; Alilac Office Building project in Lubumbashi; and Munua Housing project in Lubumbashi, expected to be completed in the year 2022, 2023 and 2024 respectively.

The three projects are expected to contribute considerably to the commercial and residential real estate in the areas.

“The facility is part of shelter Afrique financial solutions targeted at Urban Regeneration. Lubumbashi and Kolwezi are two cities gradually being transformed into major cities in the DRC and Shelter Afrique is happy to support the process by ensuring we provide financial solution that makes it easy to create a mix where both affordable housing would exist with commercial spaces to spur business activities and employment,” Shelter Afrique Ag. Managing Director Kingsley Muwowo said.

Commenting on the deal, MSD Managing Director Mr. Dharmendra Kumar lauded the partnership between MSD and Shelter Afrique and the latter’s efforts in developing housing infrastructure in the DRC.

“This is the third time Shelter Afrique has extended a line of credit to MSD since 2016, in addition to several other projects it has co-financed. We are grateful for the partnership which will enabled us change the face of Lubumbashi and Kolwezi one housing unit at a time,” Mr. Kumar said.

Other projects

In recent past, Shelter Afrique has ramped up its activities in DRC by actively pursuing large-scale, low-cost housing projects in DRC through public-private partnerships and equity investments.

Recently, Shelter Afrique approved a line of credit worth USD 11.4 million to a financial institution to finance 285 mortgages in the country. Other projects so far financed by Shelter Afrique in the DRC include Devimco’s 7-floor office building for rental purposes, La Tradition, Le Concorde, L’Ambassadeur; Azda; and a 10-storey building in Kinshasa developed by ELOLO SPRL.

Notes to Editor

Shelter Afrique

Shelter-Afrique is a pan African housing finance and development institution established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, the African Re-Insurance Corporation, and Fonds de Solidarité Africain (FSA).

The company’s mandate is to provide financing through debt, quasi-equity, and equity to both public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate. These include project finance, institutional lending, equity investments & joint ventures, trade finance, and social housing.

We also offer practical advice and technical assistance to a wide range of industry stakeholders

For more information, please visit http://www.shelterafrique.org/

Follow Shelter Afrique on Twitter, LinkedIn and Facebook

MSD ( Maison Super Development)

MSD is a standalone real estate development company which belongs to a network of commonly owned business entities going by the brand name VINMAT, with a diversified business portfolio in industries such as Real estate, Construction, Property management, Mining and Agribusiness. MSD, Maison Super Development, is a leading real estate company based in Haut Katanga, DRC.
For more information, please visit;
https://www.maisons-super.com

For further enquiries, please contact:

Babatunde Oyateru | Communications Manager | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Tel: +254 20 4978000 | Email: boyateru@shelterafrique.org|

Or

Mike Omuodo | Executive Director| Media Fast PR | Tel: +254 736 014 596| Email: mike.omuodo@mediafast.co.ke|

Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria.

– The facility will also help Mixta Africa repay part of a short-term loan raised from the capital market.

Nairobi: September 14, 2022

Pan-African housing development financier Shelter Afrique has extended USD19.5 million (₦8 billion) line of credit to Lagos-based real estate firm, Mixta Real Estate PLC.

The 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing.

USD9.75 (₦4 billion) will be used to co – finance 1,171 affordable housing units comprising on-going Beechwood Park project (187 units) and New Marula projects (984 units). The other USD9.75 (₦4 billion) will be used to repay part of Mixta’s 7-months Commercial Papers raised from the capital market in a bid to reduce the aggregate Commercial Papers outstanding from ₦ 17.9billion to ₦13.9billion.

“The deal with Mixta Real Estate PLC is appealing to us because in addition to addressing the development of affordable it also it stimulates rapid growth in housing provision, re-invigorates the development of the mortgage industry, as well as incorporating a sustainable development finance solution that makes the sector attractive to financiers,” Shelter Afrique Ag. Managing Director Kingsley Muwowo said.

Commenting on the deal, Mixta Africa, Executive Director and Chief Financial Officer, Mr Benson Ajayi said enabling access to housing and home ownership at affordable prices is the company’s main priority.

“The funding from Shelter Afrique is a validation of Mixta Africa’s housing and infrastructure development credentials. We are pleased to receive this funding approval after a rigorous due diligence process. In addition to accelerating the delivery of sustainable and affordable housing, the transaction will also strengthen the company’s funding status. The Company is delighted about the support of Shelter Afrique and looks forward to working with Shelter Afrique to deliver on its affordable housing mandate across Africa,” Mr. Ajayi said.

Other projects

Shelter Afrique has had long term relationship with Mixta Africa dating back to the year 2014 when the Company extended USD 6 million to Mixta (formerly ARM Properties PLC) to co-finance the development of 13 blocks comprising 130 apartments and related infrastructures services for outright sale to the public. The project was successful completed and the loan full paid back.

In March 2021, Shelter Afrique Board of Director approved a corporate loan in form of line of credit of USD 13 million in favor of Mixta. The 5- year facility was to be on-lent to Mixta’s Real Estate Development affiliates to fund the Group’s current real estate portfolio composed of three key housing developments programs of 889 low to middle housing units in Morocco (371 units), in Senegal (162 units) and in Ivory Coast (356 housing units).

“We are jointly reviewing a few terms and conditions of this facility at the moment and loan agreements between the two parties is expected will be signed soon,” Mr. Muwowo said.

The facility is expected to directly impact more than 1,171 families and provide accommodation for more than 4,684 people (average size of households in Lagos is 3.8) and create at least 2,342 jobs.

Notes to Editor

Shelter Afrique

Shelter-Afrique is a pan African housing finance and development institution established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, the African Re-Insurance Corporation, and Fonds de Solidarité Africain (FSA).

The company’s mandate is to provide financing through debt, quasi-equity, and equity to both public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate. These include project finance, institutional lending, equity investments & joint ventures, trade finance, and social housing.

We also offer practical advice and technical assistance to a wide range of industry stakeholders

For more information, please visit http://www.shelterafrique.org/

Follow Shelter Afrique on Twitter, LinkedIn and Facebook

Mixta Africa

Mixta Real Estate Plc is a Pan-African real estate development company headquartered in Lagos, Nigeria. It was established in 2005 and since then, has successfully executed many impactful projects. The company is currently present in 8 countries across Africa with full operations in Nigeria, Senegal, Côte d’Ivoire, Morocco, and Tunisia but with projects in Mauritania, Algeria and Egypt.
https://mixtafrica.com

For further enquiries, please contact:

Babatunde Oyateru | Communications Manager | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Tel: +254 20 4978000 | Email: boyateru@shelterafrique.org|

Or

Mike Omuodo | Executive Director| Media Fast PR | Tel: +254 736 014 596| Email: mike.omuodo@mediafast.co.ke|