With Namibia MAC, AGC has begun the process of establishing country specific Mortgage Acceptance Corporations (MAC's) that enable AGC to provide tailor made solutions to promote housing finance in each of the target markets.
AGC aims to provide structured solutions to Sub-Saharan Africa in the form of:
- mortgages and acquisition of mortgage portfolios; and
- assisted purchasing programs.
Africa Growth Corporation Mortgage Finance Helps To Develop Deep, Affordable And Resilient Housing Finance Markets In Sub-Saharan Africa.
- Housing finance needs are massive and mortgage finance requires long-term investment
- Governments cannot typically cover the cost alone
Africa Growth Corporation estimates that the Sub-Sharan housing market is valued in excess of US $1.7 trillion with a shortage of homes in excess of 57 million and an average mortgage size of US $30 thousand.
There is a shortage of mortgage finance in Africa in general and Namibia MAC, a subsidiary of Africa Growth Corporation, is the Groups flagship for the development of mass mortgage finance markets in Africa.