(Business in Cameroon) - On March 5, 2021, Celestine Ketcha Courtes (Cameroonian Minister of Housing and Urban Development) and Andrew Chimphondah (CEO of Shelter Afrique) signed a $12 million (XAF6.6 billion) funding agreement.
According to official sources, this financing from the pan-African housing bank will be used to carry out feasibility studies and the construction of 3,000 housing units in the framework of the 10,000 social housing project Cameroon is implementing for years now.
The funds provided by Shelter Afrique will not only boost the implementation of the government project (which is stalling for years now) but also help reduce the housing deficit officially estimated at 2.5 million units in Cameroon.
SIC’s current rent pricing is affecting development, the CTR says
(Business in Cameroon) - The Cameroon Real Estate Corporation (SIC) has already recorded a XAF60 billion revenue shortfall because of the current rent policy, according to Ahmadou Sardaouna, director-general of the state-owned corporation. In an interview with the government daily
Cameroon Tribune, the executive revealed that the houses rented by SIC at XAF50,000 monthly have the same standing as those rented by private owners at XAF200,000. He added that because of the high revenue shortfall, SIC initiated discussions with the state to raise the rents to at least 50% of the value collected by private owners.