• 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