NCBA PARTNERS WITH SHELTER AFRIQUE TO FINANCE PROPERTIES IN KENYAN COUNTY’S

NCBA partners with Shelter Afrique to finance properties in 5 counties

By Douglas Muriithi

NCBA Bank signed up a partnership with 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

5.5 million to Ksh 20.25 million.

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,”

said Stella.

Stella added: “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.”

Speaking on the partnership, Shelter Afrique’s Group Managing Director

and Chief Executive Officer, Andrew Chimphondah highlighted the

continuing relationship between Shelter Afrique and NCBA, “Our

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”

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 industrial property.

NCBA, which offers end to end property solutions has signed

partnerships with quantity surveyors, valuers, furniture shops, house

fittings among others.

NCBA recently partnered with Optiven Group to offer its customers an

opportunity to buy their desired Plot of Land with Optiven and build a

Residential Unit simultaneously, with the opportunity to pay up to 25

years.

The bank has also partnered with Property developer Tilisi

Developments, who is putting up more than 300 homes on 400-acre mixed-

use facility in Limuru which is located just 30 kms from Nairobi CBD.