Letshego Group launches affordable housing to support more citizens across its Pan-Africa footprint
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.
Celebrating the launch of Letshego’s suite of Affordable Housing products, Letshego’s Group Chief Executive, Aupa Monyatsi commented, “In many of our regional markets, owning your own home is unfortunately still a luxury. Ironically, there are still many individuals and families across our communities who cannot access financial support to purchase or upgrade their homes – despite them being able to afford loan installments. The barriers to accessing housing finance include onerous qualifying credit criteria, inability to provide adequate credit records, challenges in providing formal collateral or evidence of regular income in the case of many small business owners. Letshego is committed to bridging the gap so that more individuals across our regional footprint can access support to buy or renovate their homes, thus providing dignity and long term stability for more families, and solid foundations for our future generations.”