In line with Letshego’s purpose to improve lives, the pan-African inclusive finance Group is now launching its latest flagship product, Affordable Housing. The product is available to customers in Namibia and Botswana, with rollout plans to the Group’s remaining pan-African countries.
Citizens across Africa, and many global emerging markets, struggle to access housing for several reasons, including lack of affordability, stringent qualifying credit criteria, restrictions in the location of houses available for financing, as well as rapidly escalating house prices spurred by rising inflation as well as the lack available land allocated to small to medium housing.
Letshego’s inclusive Affordable Housing solution aims to mitigate access challenges experienced by individuals in broader communities by offering a choice in products. These include an all-in-one solution with land and a customisable house, or capital to purchase material from trusted local suppliers to renovate existing homes or properties, wherever the structures may be located. Home improvement finance options include additional benefits such as competitive pricing for labour, construction advisory support and quality building materials accessed via a Letshego’s dedicated network of established and accredited engineering and construction experts
Letshego Affordable Housing product in Namibia is supported by a facility provided by the IFC (International Finance Commission), a member of the World Bank Group, in line with the global institutions commitment to leverage its facilities for broader social and economic impact across emerging markets.
Letshego’s Affordable Housing proposition includes housing finance, construction, plot purchase and renovation. Letshego’s Affordable Housing and Home Renovation solutions are accessible digitally via the LetsGo Digital Mall – available online and via mobile – thus making it easier for rurally based customers to access the solution from wherever they may be located.
Letshego’s Affordable Housing extends traditional housing beyond city centers, thus supporting rural councils and communities to develop their own micro economies. To provide a more wholistic level of support for customers, Letshego has established partnerships with local and international industry-related organizations and suppliers to expand the value of its Affordable Housing offering. Benefits include support in construction, engineers and access to quality building materials. Letshego is committed to its vision in creating safe and sustainable living environments for more individuals and families; all while working closely with local and national governments to support national economic development targets.
After Namibia and Botswana, Letshego is expected to extend the benefits of its Affordable Housing offering in its East and West African footprint markets.