The African Development Bank has approved a 7 million US dollar equity investment into the Pan-African Housing Fund. 
The fund is a private equity fund targeting lower and middle, middle class housing market in Africa. The investment by the African Bank is expected to finance the construction of 5100 additional single and multi-family residences in targeted urban areas.
The PAHF will be able to support local housing developers to develop projects to alleviate the great shortage of housing and related infrastructure to meet the every growing needs of increasing urbanization.
The Pan-African Housing Fund is sponsored by Shelter Afrique, A Pan-African housing finance and development agency set up by a collaboration of African governments, the African Reinsurance Corporation, The Common Wealth Development Group and the African Development Bank. The mandate of the institution is to facilitate sustainable development of housing and related infrastructure.Shelter Afrique in turn launched PAHF to address the need for private equity investment in the sector.
The fund is managed by the Phatisa group which is private equity management, corporate finance consultant.
The fund will offer risk capital and access to a network of developers and investment professionals to contribute to the development of affordable housing for the growing urban population in Africa said Tim Turner, Private Sector and Micro-finance Director with the African Bank.
Source: Ethiopian Herald
