ShafPress

Nairobi: 10 May 2021 – Pan-African housing development financier Shelter Afrique has signed a Memorandum of Understanding (MOU) with Juba-based real estate firm, Triangle Real Estate to develop 26,000 housing units for South Sudan Defense Forces at an estimated cost of USD1.5bn through a public-private-partnership special purpose vehicle.

The MOU was signed in Nairobi by Shelter Afrique Chief Executive Officer Andrew Chimphondah and Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, on behalf of the Ministry of Finance and Planning for the Government of South Sudan.

“We have been mandated by the Ministry of Finance and Planning to source for funds for the construction and completion of a defense housing project on behalf of the Government of South Sudan under the Peace Through Development programme initiated by President Salvar Kiir in 2018,” Amb. Kuol said.

Amb. Kuol noted that the signing of the MOU was critical in addressing the housing crisis in South Sudan, which has been exacerbated by many years of conflicts.

“The housing crisis in South Sudan is dire. In fact, we are starting from the scratch – the reason this memorandum of understanding we’ve signed with Shelter Afrique is very important for us and is proof that provision of affordable housing is central to the agenda of the government of the South Sudan, not just for the Forces but for the entire population,” said Amb. Kuol.

Mr. Chimphondah said the signing of the MOU with Triangle Real Estate highlights Shelter Afrique’s catalytic role in the provision of affordable housing finance across Africa.

“Our vision is to provide affordable housing for all Africans – including South Sudan. We are proud to be part of this partnership and we look forward to being the pre-eminent provider of financial, advisory and research solutions geared towards solving the housing crisis in South Sudan which has a shortage of 4 million units,” Mr. Chimphondah said.

The Project scope includes development of 148 housing blocks of 160 housing units each at New Site, Qiada Junubiya, J-3 Presidential Guards Apartments, and at New Bonga.

Under the agreement Triangle Real Estate will act as the developer and contractor of the project in conjunction with various consultants. Shelter Afrique, on the other hand, will provide catalytic funding as well as act as the lead arranger to assist in raising additional financing through the syndication of other Developmental Financial Institutions as applicable.

Shareholding

Amb. Kuol also noted that the government of South Sudan was keen on becoming a shareholder of Shelter Afrique and was actively sourcing the budget for the capital subscription fees.

“In addition to sourcing for finance for the Defense Forces housing project, the government of South Sudan has also mandated Triangle Real Estate and a financial advisor – Benchmark Solutions to source for funds to this effect and we are currently in talks with some potential financiers. We believe that South Sudan should become a member of Shelter Afrique in 2021 when approved at the AGM that will be held on the 24^th June 2021,” Amb Kuol said.

Nairobi, Kenya: 18 March 2021 – Pan-African housing development financier Shelter Afrique has signed a Memorandum of Understanding (MOU) with the government of Cameroon to contribute to the government’s social housing programme and a hosting agreement for the 40^th Annual General Meeting.

The MOU which is expected to contribute 3000 houses to the government’s social housing programme, was signed in Yaoundé by Shelter Afrique Chief Executive Officer Andrew Chimphondah and Cameroon Minister for Housing and Urban Development, Madame Célestine Ketcha Courtès, during a week-long working mission with the Shelter Afrique Team.

Speaking during the signing ceremony, Madame Célestine Ketcha Courtès assumed the 1^st Vice Chairpersonship of the Shelter Afrique Bureau in 2020 and will succeed Kenya as Chairman during the 40^th Annual General Meeting, lauded Shelter Afrique for its commitment to Cameroon. The minister commended Mr Chimphondah for leading the successful mission to Cameroon and noted that it demonstrated Shelter Afrique’s conviction to invest in Cameroon’s housing industry’s potential.  

“The MOU we’ve signed with Shelter Afrique is a demonstration of the potential of the housing market in Cameroon, but more so it is proof that affordable housing is central to the agenda of the government of the President of the Republic of Cameroon, His Excellency, Paul Biya,” the Minister said, adding that the Government had undertaken to ensure that there would be incentives to encourage participation in the government’s Social Housing Programme.  

On his part, Mr Chimphondah said the MOU signing was very significant. It highlighted Shelter Afrique’s role as a catalyst in the industry and its ability to leverage and syndicate other global funding partners.

“This MOU will provide catalytic funding from Shelter Afrique, who will also be the lead arranger to assist in raising additional financing through the syndication of other Developmental Financial Institutions. This funding will contribute to the delivery of the 3000 houses under the government social housing project in Yaoundé and Douala,” Mr Chimphondah said at the signing ceremony.

40^th Annual General Meeting and Anniversary

The signing ceremony also featured the signing of the hosting country agreement for the 40^th Annual General Meeting, which will be hosted in Yaounde from the 20^th– 26^th of June 2021; the Minister and the 1^st Vice-Chairperson of the Bureau reiterated Cameroon’s commitment to host a unique AGM.

“Under the High Patronage of the President, His Excellency, Mr Paul Biya, Cameroon will be hosting 43 Member countries and global financial institutions to the 40^th Annual General Meeting. We are eager to share the Cameroonian hospitality but, more importantly, to engage with the Finance Ministers and Housing Ministers that will be present to collectively find pragmatic solutions to the housing crisis in Africa during this post-COVID-19 era. Above all, It promises to be a unique AGM”.

Chimphondah adding on the unique nature of the AGM, noted that the AGM coincides with the organisations 40^th anniversary; “In most cultures, 40 is a significant milestone; milestones offer us an opportunity to congratulate ourselves and enjoy our accomplishments. More importantly, they are a moment for us to reflect and consider what happens next. That is why the theme for this year’s AGM is Four Decades of Affordable Housing Policies in Africa: Mapping the Next Forty Years. Our 40^th year will be one of retrospection; We believe as we navigate this new decade and the realities that this pandemic has thrown into sharp relief, there is a need to review Africa’s policy environment. Not merely to measure growth, successes and challenges but, more importantly, to forecast the next forty years to shape policy for our member-states.”

Chimphondah acknowledged the limitation of COVID-19 on travel and gatherings and offered that the AGM will be presented as a hybrid of in-person attendance and virtual attendance. It will be recalled that Shelter Afrique successfully held their first virtual AGM in 2020.