Shelter Afrique has partnered with multi-national fintech startup iBUILD Global to scale up its capacity building pillars in management of its housing projects.
A Memorandum of Understanding signed between the two firms now gives iBUILD a green light to provide its platform for project management for the former’s entire portfolio. This, according to the two firms will create transparency through detailed project management and traceability of ecosystem transactions.
Commenting on the new deal in Nairobi, Shelter Afrique’s Managing Director Andrew Chimpondah said: “We look to benefit through the partnership by using the platform to increase the training of developers, contractors, artisans and also the reporting of employment. Secondly, investors will be looking at transparency in the money they are lending. Investors want to know where is our money going and how can we have transparency in terms of what that money has delivered within Africa.”
iBUILD’s chairman Lew Schulman exuded confidence that integrating technology in reporting information on housing within Africa will spur sustainable growth within the sector.
“From the day that they imagine a project, we will be able to have all that information in a single repository. They will be able to bid those projects out competitively, start those projects and see the activity as it unfolds,” he said.
Mr. Schulman added stakeholders will be able to report on the impact on aspects whether “it is how many youths were brought in to the construction industry, whether there are enough masons, electricians, plumbers and if there is the right supply chain in place. “
The collaboration mandates iBUILD to account for all funds disbursed in Africa on behalf of the Shelter Afrique.
The partnership will give Shelter Afrique the ability to report data on projects in real-time as well as report the impact its financing is creating throughout the projects it supports.
iBUILD’s business assessment is set to start in the next few weeks and it will be tailored to suit different market requirements in the continent. Full integration will commence after a mutually agreed-upon timeline.
Shelter Afrique – currently the sole pan-African finance institution that exclusively supports the development of the housing and real estate sector in the continent is owned by 44 African member governments (Class A shareholders), and the African Development Bank and Africa-Reinsurance (Class B shareholders).
They have been in operation for 36 years. In the period, they have been able to complete 17,572 projects.