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| illustration of a four bedroom unit at the Stima Village |
Pan-African housing and habitat development financier Shelter
Afrique has awarded Stima Investment a 395 million-shilling development loan.
The loan will be used to support Stima Investments ongoing
Syokimau gated community housing development project dubbed Stima Village.
“The funds are earmarked to co-finance the development
comprising of a total of 156 housing units,” said Shelter Afrique Managing
Director Alassane Ba, during the signing of the loan.
The partnership between the two comes on the backdrop of a
strategic corporate undertaking to change its capital mobilization strategy by incorporating
the use of both debt and equity instruments to finance its operation.
The Stima Village project is one of Shelter Afrique’s major
middle-level investments aimed at increasing Kenya’s supply of affordable
housing units for its growing middle class among other social classes.
76 maisonettes, 40 three bedroom and 36 four bedrooms units
are expected to be built at the ongoing Stima Village through the loan.
Stima Investment draws a pool of over 4000 members from
Kenya Power and Lighting Company (KPLC), Kenya Electricity Generating Company (KenGen),
Rural Electrification Authority, Kenya Electricity Transmission Company, and
Stima Sacco among others.
Source: CapitalFm.co.ke
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