It has been estimated that up to 1.6 billion people in the world live in sub-standard shelter. Rapid urbanization in Africa contributes to a massive housing shortage. Studies estimate that the housing finance market for the African continent could be as high as $8 billion dollars. Housing investments are a priority for most people in Sub-Saharan Africa. However, investment in housing products and services are still very limited.
The partnership between Habitat for Humanity and The MasterCard Foundation will expand access to housing microfinance products and support services to low-income families in Sub-Saharan Africa. It will develop and test housing microfinance products, and develop a package of housing support services for clients. Learnings will be documented and disseminated to demonstrate the impact and scalability of this integrated package.
The initiative will focus on Uganda, Ghana and Kenya, and will impact an estimated 17,000 households.