The Katanga-based Maison Super Development (MSD), a Democratic Republic of Congo-based developer, has been granted an $18.5 million (Sh2.2 billion) corporate loan by the pan-African housing financier Shelter Afrique
The Katanga-based Maison Super Development (MSD), a Democratic Republic of Congo-based developer, has been granted an $18.5 million (Sh2.2 billion) corporate loan by the pan-African housing financier Shelter Afrique. In a statement released, the lender said that the approval is the third credit line for the company since 2016 and will cover three housing projects. The five-year facility is also part of “urban regeneration.”
MSD’s projects cover building office blocks in the southern city of Kolwezi and south-eastern Lubumbashi, the third-biggest DRC city, and also a housing project where affordable housing would co-exist with commercial spaces to spur business activities and employment. Shelter Afrique acting managing director Kingsley Muwowo, said that Lubumbashi and Kolwezi will be gradually transformed into major cities in the DRC.
Shelter Afrique has been enhancing its presence in DRC through public-private partnerships and equity investments in large-scale, low-cost housing projects. The housing financier is jointly owned by 44 African countries and three development institutions — African Development Bank, African Reinsurance Corporation and the African Solidarity Fund.
Last year, DRC raised its shareholding in the company to 1.68 percent from 0.74 percent by acquiring an additional 0,94% stake through a capital injection worth 42.5 million.
Also read;
https://trendsnafrica.com/drc-finally-a-member-of-eac/
