{"id":473743,"date":"2021-10-06T08:52:18","date_gmt":"2021-10-06T08:52:18","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=473743"},"modified":"2021-10-06T08:52:18","modified_gmt":"2021-10-06T08:52:18","slug":"shelter-afrique-and-government-of-cameroon-to-establish-a-housing-company","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/10\/06\/shelter-afrique-and-government-of-cameroon-to-establish-a-housing-company\/","title":{"rendered":"Shelter Afrique and Government of Cameroon to Establish a Housing Company"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><ul>\n<li style=\"font-weight: 400;\"><em>The company\u00a0<\/em>estimated cost of USD15 million<em>\u00a0will<strong>\u00a0<\/strong>produce low-cost construction materials to promote large scale social housing programs in Cameroon.<\/em><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">Shelter Afrique Board has approved the establishment of<strong>\u00a0<\/strong>a construction company in Cameroon at\u00a0an estimated cost of USD15 million.<\/p>\n<p style=\"font-weight: 400;\">The Industrial Housing Corporation (IHC) is a joint venture initiative which will be managed under a Special Purpose Vehicle (SPV), with Shelter Afrique owning 51% of the Company and Government of Cameroon owning 49% (through the Housing Ministry and Urban Development).<\/p>\n<p style=\"font-weight: 400;\">\u201cThe Company will be established based on Public and Private Partnership through which the Government of Cameroon will designate a location and provide the relevant land where\u00a0the factory will be situated close to the main towns \u2013 either in Yaound\u00e9 or Duala. The\u00a0Cameroonian Government will also provide other incentive and off-site infrastructure. Shelter Afrique will provide both financial and consultancy support,\u201d Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah explained.<\/p>\n<p style=\"font-weight: 400;\">Mr. Chimphondah noted that the facility was in line with the Shelter Afrique Board\u2019s approved product lines and business strategy, adding that the equity investment was part of Shelter Afrique\u2019s product lines and catalytic investments in establishment of vehicles for development of alternative building technologies for accelerated and mass development of affordable housing in member countries.<\/p>\n<p style=\"font-weight: 400;\"><strong>High construction cost<\/strong><\/p>\n<p style=\"font-weight: 400;\">Cameroon has a huge deficit of contractors with adequate capacity and logistics, thus resulting in high construction cost, low quality of construction and occasion delays in delivering large housing.<\/p>\n<p style=\"font-weight: 400;\">the Company\u00a0that will produce construction materials such as polystyrene block production plant, panel production plan and other associated equipment in a bid to promote large scale decent social housing programs across Cameroon.<\/p>\n<p style=\"font-weight: 400;\">\u201cWe strongly believe that the establishment of\u00a0Industrial Housing Corporation is the appropriate contribution by Shelter Afrique to address the problems facing provision of affordable housing in Cameroon through capacity building. We also believe that this concept will be easily replicable in other member countries as we address the problem of housing shortage across the continent,\u201d Mr. Chimphondah said.<\/p>\n<p style=\"font-weight: 400;\">He said the Company, with the supervisory role played by Shelter Afrique, will ensure that the final products are priced at levels which are considered affordable to enable mass acquisitions and development of affordable housing in the country.<\/p>\n<p style=\"font-weight: 400;\">When established\u00a0factory is expected to reach minimum annual production capacity of 1,500 affordable houses through enhancement of innovation and capacity building on the use of alternative building technologies. It is also expected to improve the living condition of more than new 1,500 households and create direct and indirect employment opportunities to over 2000 citizens.<\/p>\n<p style=\"font-weight: 400;\">Cameroon\u2019s Minister of Housing and Urban Development C\u00e9lestine Ketcha Courtes &#8211; who is also Chairperson of Shelter Afrique\u2019s AGM Bureau &#8211;\u00a0\u00a0is expected in Nairobi this week to meet Shelter Afrique management and board.\u00a0\u00a0 She will also\u00a0pay courtesy\u00a0call on her Kenya counterpart and predecessor, Cabinet Secretary James Macharia.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The company\u00a0estimated cost of USD15 million\u00a0will\u00a0produce low-cost construction materials to promote large scale social housing programs in Cameroon. Shelter Afrique Board has approved the establishment of\u00a0a construction company in Cameroon at\u00a0an estimated cost of USD15 million. The Industrial Housing Corporation (IHC) is a joint venture initiative which will be managed under a Special Purpose Vehicle<\/p>\n","protected":false},"author":527180,"featured_media":473744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12065],"tags":[12599,1914],"class_list":["post-473743","post","type-post","status-publish","format-aside","has-post-thumbnail","category-press-releases","tag-cameroon-en","tag-shelter-afrique","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shelter Afrique and Government of Cameroon to Establish a Housing Company - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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