As a long time microfinance practitioner with a special interest in Housing Microfinance I am impressed with the news I received from Tanzania this morning through my Google Alerts.
"The government’s plan to establish a housing microfinance fund to provide affordable houses to the people is commendable. According to the minister for Lands, Housing and Human Settlements Development, Prof Anna Tibaijuka, the project should go a long way in easing the huge housing shortage that is already a major national crisis.
Official statistics indicate that the housing deficit stands at more 200,000 units a year. The demand keeps increasing as the population grows. The proposed project is part of the country’s grand plan to formalise the mortgage market and make it easier for people to find cheaper and better accommodation."
For a detailed version of the news please visit : The Citizen
In my opinion this is an ambitious plan put forth by the Government of Tanzania and I only hope that a good portion of the funds would be ear marked for the customers of Microfinance segment. I would be interested to know more about this project in the coming days.
Uday Shankar
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