Delivering N$100 000 houses a possibility in Windhoek: Letshego

By Erasmus shalihaxwe

LETSHEGO Bank Namibia Chief Executive Officer Aupa Monyatsi, said it is possible to deliver decent houses at a lower cost of N$ 100 000 in Windhoek informal settlements, provided that serviced land is availed.

Monyatsi made these remarks during the African Union for Housing Finance one-day seminar, in collaboration with Atenu Developments and Letshego Bank Namibia, which was recently held in Windhoek under the theme: “Supporting Affordable Housing in Namibia”. With the aim of discussing and find ways on how to find better ways of funding housing in the country.

He said they visited the Katutura informal settlement Havana area and discovered that the housing crisis the country is facing can be addressed by building houses that can be afforded by people living in those areas at a low cost of N$ 100 000. However, this can only be possible if there is serviced land available, which requires local authorities and private partner’s interventions.

“It is evident that the major challenge in Namibia is not houses being unaffordable but that the challenge is people not being able to afford them. Participants visited Havana informal settlement and discovered that it is possible to deliver a decent house unit at N$100 000 with an informal income when serviced land is made available,” Monyatsi said.

He added that in Africa. Housing is a luxury and it needs to be considered a necessity for people to be able to buy or build their own houses as it provides stability, dignity and financial security. Therefore, Letshego Bank Namibia is keen on delivering affordable houses through a model which is sustainable to customers and financially inclusive to everybody in the country.

Speaking at the same occasion, Atenu Developments Chief Operating Officer, Samuel Akinin, said there are quite a number of people who can afford houses, but there are not many affordable houses available to ordinary citizens in the market.

“The seminar is a unique opportunity to meet stakeholders and discuss synergies and partnership opportunities between the public and private sector, including exciting initiatives like our Proptech, FundRoof, which is looking to digitise the mortgage process across the value chain,” Akinin explained.