Deal for low-cost housing in signed
The deputy minister of Lands, Housing and Human Settlement Development, Mr Ridhwani Kikwete (centre) witnessing exchange of the signed Memorandum of Understanding (MoU) between HFHI and the Tanzania Mortgage Refinance Company (TMRC). PHOTO | COURTESY
What you need to know:
- Habitat for Humanity International helps people in different communities globally to address housing challenges through the provision of loans
Dar es Salaam. Tanzania housing challenges are slowly being addressed after a non-profit organization, Habitat for Humanity International (HFHI), showed interest in venturing into real-estate.
The organisation is set to mobilise funds for supporting institutions for the provision of housing microfinance loans in order to realise its objectives of offering affordable housing to Tanzanians.
The HFHI helps people in different communities globally to address housing challenges.
The deputy minister of Lands, Housing and Human Settlement Development, Mr Ridhwani Kikwete, disclosed this in Dar es Salaam yesterday during the signing of the Memorandum of Understanding (MoU) between HFHI and the Tanzania Mortgage Refinance Company (TMRC).
Mr Kikwete commended the partnership between the two organisations calling it a good step towards the realisation of proper housing in the country. “This signed agreement will support the government’s initiatives to provide affordable housing units that meet expectations of low-income groups,” he said.
He welcomed the TMRC’s initiative of engaging the HFHI as a strategic partner on a non-exclusive basis to conduct research and mobilize funds for supporting the microfinance housing in the country.
According to him, at least three million Tanzanians lacked better housing, saying the agreement would ensure the realiasation of better housing to the majority citizens.
“The governments’ aim is to see to it that the majority of Tanzanians have improved and quality houses by 2035,” the deputy minister said.
He said the government was committed to addressing housing challenges especially to low-income population facing challenges of accessing formal mortgage loans.
TMRC chief executive officer Oscar Mgaya said HFHI has also set aside Sh233 million for a survey to identify low income earners in need of financial aid to improve their homes.
“We have already disbursed the funds for the survey, the results will help to set up strategies that would benefit the majority low-income earners,” he said, and adding that Tanzanians working in the informal sector would also be reached.
