The loan will have a five-year tenor and a three-year grace period, helping Banco BICE increase and diversify its long-term financing to support the housing portfolio growth.

Britam General Insurance and Habitat for Humanity International (HFHI) – Terwilliger Centre for Innovation in Shelter (TCIS), have signed a Memorandum of Understanding (MoU) to tackle the low market penetration of property insurance, which currently stands at 0.5%. 

With funding from REGMIFA, Symbiotics Capacity Building facilitates the design and roll-out of JKL’s housing micro loan with the support of Housing Development Finance Consultants Africa “HDFC” Ltd.

The series A funding comes from Incofin India Progress Fund, a private equity fund launched in 2021. As of June 2023, Varashakti Housing Finance offers home loans, home improvement loans, loans against poverty and small ticket business loans.

Fulton Bank has helped facilitate more than $968 million in loans to more than 5,700 homebuyers under the Closing Cost Assistance Program, and that cumulative total is on track to hit $1 billion in loans in 2023

The investment will allow Banistmo to address two development challenges simultaneously by reducing the financing gap for SMEs and addressing the country's housing deficit.

This is the first step in the organizations' joint effort to expand and strengthen the low-income housing finance sector in Tanzania. 

More than 40 percent of the loan amount was allocated to energy efficient housing projects, i.e. purchase of new energy efficient apartments, as well as individual house constructions and renovations.

Using several classification techniques, the paper assesses the growth and performance of affordable housing finance companies across the country.

The $80 million-dollar funding will help G&T launch its climate finance business, a first in the country, focusing on financing green buildings and green housing projects.