PROJECT FINANCING

Probably the most important aspect of Affordable Housing Projects is finding a way to finance them.

Africa needs 5 million homes each year which translates into a $100 billion opportunity annually. Despite tremendous potential, the affordable housing industry in Africa has been capital starved. Today, although the demand side is adequately serviced with multiple Housing Finance Companies and banks thriving on policy and regulatory support.

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On the supply side, however, the major bottleneck constraining development of low cost homes has been the inability to procure the initial 30% capital which translates to a funding requirement of about $30 billion year on year. Today, this space remains virtually untapped without the presence of any significant institutional player. This has resulted into a huge void which has to be filled in order to build housing at scale.

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MIC Group through our financial services partners, have developed the solution to bridge this funding gap and enable the development of affordable homes.