Shelter Afrique Extends Sh100 Million for Low Income Housing

By Brian Ngugi

Housing market lender Shelter Afrique announced Thursday it has signed a Sh100 million credit deal with Kenyan financial services firm Molyn Credit for onward lending to low income households.

Shelter Afrique, managing director James Mugerwa said the line of credit, will target to fund low income households with monthly income of less than Sh100,000.

"We have devoted ourselves in the medium to long term to making housing more accessible to all. To achieve this we have to address the demand and need at the lower end of the market where it is most apparent, extending this line to Molyn Credit shows our commitment to doing that," said Mr Mugerwa after the signing of the deal.