The International Finance Corporation (IFC), a member of the World Bank Group has partnered with Letshego Africa to increase access to affordable housing finance for thousands of individuals.
IFC’s $50 million financing facility to Letshego’s subsidiary in Namibia will extend access to affordable housing finance for over 4,000 Namibians but also with the potential to expand its partnership to other countries.
“We want to improve lives across the communities where we operate. Increasing access to simple and appropriate financial solutions, for more individuals and small business owners, will enable us to deliver on this promise. By partnering with global institutions like IFC, who share our vision of achieving social impact through sustainable commercial strategies, we can unlock exponential value and potential for us to do more,” said Andrew Okai, the group CEO for Letsehgo Holdings Limited.
“This is truly an exciting partnership. We appreciate the support, synergy, and partnership that IFC brings to our strategy.”
IFC said this was an opportunity to ensure many people get affordable housing.
“By supporting partners like Letshego to increase the availability of affordable housing loans, we hope to enable more individuals to access quality housing in Namibia,” said Adamou Labara, IFC’s Country Manager for Eswatini, Lesotho, Namibia, South Africa and Zimbabwe.
IFC also notes that they will continue to work with partners across Africa to help increase access to affordable housing including supporting the development of sustainable and responsible mortgage markets.