Shelter Afrique has approved an $18.5 million corporate loan to Maison Super Development (MSD) to finance three ongoing projects in the Democratic Republic of Congo.
The five-year facility approved by Shelter Afrique Board will see the real estate firm complete the projects located in Lubumbashi and Kolwezi cities.
“The facility is part of Shelter Afrique financial solutions targeted at Urban Regeneration. Lubumbashi and Kolwezi are two cities gradually being transformed into major cities in the DRC and Shelter Afrique is happy to support the process…,” said Shelter Afrique Ag. Managing Director Kingsley Muwowo.
The three-year projects covering 2022-2024 earmarked for the facility include Jumbo Office Building in Kolwezi, the Alilac Office Building project and the Munua Housing project both in Lubumbashi.
This is the third time Shelter Afrique has extended a line of credit to MSD since 2016.
The latest financing to housing projects in DRC comes on the backdrop of an $11.4 million credit line offered to a financial institution to finance 285 mortgages in the country as Shelter Afrique actively pursues large-scale, low-cost housing projects in DRC through public-private partnerships and equity investments.