Sofala Capital invests in innovative housing finance companies, helping African families to build real and productive residential assets that impact their lives for the better.
GBP 850k
Only 1 in 3,000 Africans qualifies for a home mortgage. Most African families are forced to use their monthly savings to build a home incrementally – this is often a 4 to 8 year process, during which families often live in temporary or informal structures, with serious implications for family security, education outcomes, health and other poverty-related measures.
Through this investment in Sofala Capital, FSDAi sought to demonstrate new models – from secured housing finance to Rent-To-Own products – for affordable housing that could be replicated in other markets to meet the huge global affordable housing finance gap (estimated at £650 billion annually).
It also sought to mobilise local bond finance to mortgage companies.
“FSD Africa Investments has enabled more than 600 financially excluded South African and Zambian families to build their own homes. In so doing, these families are creating their own long-term, upward economic trajectory.” Michael Waller CEO Sofala Capital
3,195 quality sustainable jobs created.
2,485 people reached through construction of 710 homes
472 additional people earning rent from completed houses
Sofala Capital, Silverberg Terraces,
Steenberg Office Park, T
okai, Cape Town, 7945
info@sofalacapital.com
ACV’s impact measurement approach will evolve as we learn more about building businesses in the climate space and partner with new impact investors and actors.