Windhoek, March. 16 — International Finance Corporation (IFC) has partnered with Pan-African finance organization Letshego Bank Namibia(LBN), to increase access to affordable housing finance for thousands of individuals in Namibia on 11 August 2021.
IFC’s USD 30 million financing facility will extend access to affordable housing finance for over 4 000 Namibians. Although 78 percent of Namibians have a bank account, only 12 percent of households have mortgage-financed homes. The majority of Namibians do not qualify for mortgages from commercial banks because they are often unaffordable.
LBN successfully registered two (2) bonds at the Windhoek Deeds Office, Ministry of Agriculture, Water, and Land Reform on 07 December 2021 through the assistance of Jacobs Amupolo – Lawyers, Notaries & Conveyancers. This implies that applications can be made at any of the local branches from where the assessment process starts.
The IFC delegation visited LBN on Monday, 14 March 2022 for a meet-and-greet and to continue the conversation on affordable housing solutions.
“Our strategic purpose is clear – we want to improve lives across the communities where we operate. Increasing access to simple and appropriate financial solutions, for more individuals will enable us to deliver on this promise. By partnering with global institutions like IFC, which share our vision of achieving social impact through sustainable commercial strategies, we can unlock exponential value and potential for us to do more. This is truly an exciting partnership and indeed the year of reimaging where we are shifting gears in the delivery of our products and services to you, our valued customer. We appreciate the support, synergy, and partnership that IFC brings to our strategy,” said Dr. Ester Kali, Country Chief Executive Officer, LBN. – info@namibiadailynews.info
