The Centre for Affordable Housing Finance in Africa (CAHF) is a not-for-profit company with a vision for an enabled affordable housing finance system in countries throughout Africa, where governments, business, and advocates work together to provide a wide range of housing options accessible to all. CAHF’s mission is to make Africa’s housing finance markets work, with special attention on access to housing finance for the poor. We pursue this mission through the dissemination of research and market intelligence, supporting cross-sector collaborations and a market-based approach. The overall goal of our work is to see an increase of investment in affordable housing and housing finance throughout Africa: more players and better products, with a specific focus on the poor.
Our work covers four main areas: (1) understanding housing markets, (2) monitoring housing sector performance, (3) exploring innovation in housing finance, and (4) supporting housing finance market development. As part of this approach, CAHF regularly undertakes and commissions research; develops market intelligence on country and regional housing markets; hosts forums, strategy discussions, and workshops; and participates in local and international conferences and debates on housing finance.
Since its formation, CAHF has come to be known as the most comprehensive and up to date source of information on housing finance in Africa. Its research and other material is regularly used by investors, lenders, pension funds, and other financiers; legal practitioners, researchers and academics; policy makers and other housing finance practitioners to scope and pursue the opportunities for extending access to housing finance across Africa. As a thought leader in the sector, CAHF is a respected advocate for financial inclusion in housing finance in Africa. Our work is available on our website: www.housingfinanceafrica.org . CAHF is also the Secretariat to the African Union for Housing Finance – see www.auhf.co.za.
Kecia Rust is the Executive Director and founder of the Centre for Affordable Housing Finance in Africa (CAHF). She is a housing policy specialist and has worked with both public and private sector practitioners in promoting access to affordable housing and housing finance in Africa for the past 20 years. She was the Housing Finance Coordinator at the FinMark Trust from 2003-2014, from where CAHF was established. Over the span of her career, Kecia has consulted and undertaken research in affordable housing finance, residential property assets and property markets, rental and social housing, and the creation of sustainable human settlements, among other issues. Kecia participated in the Wharton School’s International Housing Finance Programme, U.S.A. She holds a Bachelor’s Degree with Distinction from the University of North Carolina at Chapel Hill, U.S.A., and a Masters of Management from the University of the Witwatersrand, South Africa.
Adelaide Steedley is the Director of Citymark, within the Centre for Affordable Housing Finance. She has worked for U.S.-based, national non-profit mission-driven organisations that assist community-based organisations in expanding the availability of affordable housing for low income households. Her responsibilities have ranged from overseeing construction and development, to underwriting the City of Boston’s public investment in large-scale multi-family housing developments and managing the allocation of funding to city-wide and regional affordable housing initiatives. She has also supported the development and implementation of public-private investment instruments to facilitate capital investment in housing with banks, insurance companies, foundations and other local partners. Adelaide has a Master’s in City Planning from the Georgia Institute of Technology, and in 2008 became a life fellow of the Emerging Leaders program, a joint fellowship of Duke University and the University of Cape Town’s Graduate School of Business.
Kudakwashe Mativenga is the Finance and Office Manager at the Centre for Affordable Housing Finance in Africa (CAHF). In this capacity, Kuda is responsible for financial management, donor and contract management, governance and risk management, as well as office administration. He has extensive experience in the not-for-profit arena, having worked for Oxfam GB, PATH and the Synergos Institute prior to joining CAHF. He has a personal interest in development finance, especially the role development finance institutions play as catalysts for economic growth and development. He holds a Bachelor of Business Studies Degree with Honours in Finance and Banking, from the University of Zimbabwe, an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants (CIMA), and has attended the Housing Finance Course for Sub-Saharan Africa at the University of Cape Town.
Alfred Namponya is the Data Architect for the Centre for Affordable Housing Finance in Africa. He comes from a background of data mining and analytics, with special expertise in credit risk management and financial risk modeling. He has extensive experience in enterprise data architecture, advanced big data analytics and business intelligence applications. He is an ACL Certified Data Analyst (ACDA) and holds a Bachelor of Commerce Honours Degree in Accountancy from the University of Zimbabwe.
Noluthando Ntshanga is the Coordinator of the African Union for Housing Finance (AUHF). She holds a bachelor’s and master’s degree in housing from the University of KwaZulu-Natal (UKZN), certificates in African microfinance training and housing microfinance product development, and attended the Housing Finance Course for Sub-Saharan Africa. Before joining CAHF, she worked for Habitat for Humanity International EMEA region as a Housing Microfinance Officer, supporting the design and development of housing microfinance products and providing institutional technical assistance to microfinance institutions. Before this, she was a researcher and assistant lecturer at UKZN, and junior project manager supporting the delivery of low-cost housing throughout KwaZulu-Natal. Her expertise includes housing policy, housing project management, housing microfinance product development, market research and supporting institutional development. She has a passion for finding innovative ways to deliver low-cost housing, and in assisting the frontier market to improve their livelihoods through financial inclusion.
Sireena Ramparsad is a research specialist at the Centre for Affordable Housing Finance in Africa. She holds a Bachelor of Social Science specialising in housing and Master of Science in Town and Regional Planning, both from the University of KwaZulu-Natal, and attended the Housing Finance Course for Sub-Saharan Africa at the University of Cape Town. Her background in housing and town and regional planning has broadened her expertise within the development and built environment field. Sireena has gained extensive experience working as a development economist, lead researcher and strategic planner across a multitude of projects, focussing on spatial economic development, including property market assessments and local/regional area planning. Sireena is currently registered as a candidate planner with the South African Council for Planners (SACPLAN) as well as the South African Planning Institute.
Samuel Suttner is a research specialist at the Centre for Affordable Housing Finance in Africa, responsible for research on rental and housing microfinance. He is an adaptable researcher with an interest in urban policy, local government, real estate development and housing finance markets. He has been awarded a South African National Presidency grant to conduct research on innovative responses to urban pressures, worked for an urban design firm and an urban planner, and tutored and lectured political studies. He holds a Bachelor of Commerce in Politics, Philosophy and Economics and a Bachelor of Arts (Honours) in Development Studies, both from the University of the Witwatersrand, as well as a Master of Science in Urban Studies from University College London.
Kgomotso Tolamo is a research specialist at the Centre for Affordable Housing Finance in Africa. Her primary training is in architecture; she has worked for a private architectural practice where she gained several years’ experience in the design, construction and delivery of affordable housing units. She is fully conversant in construction contract law, standards and regulations related to the design and construction of affordable housing, and the practical application of housing policies. She also has experience in sourcing and securing real estate and land, due diligence and feasibility assessments, project conceptualising and scoping, project finance structuring and modelling, stakeholder and institutional management, implementation modelling and other related activities. She brings to the organisation vast experience in the implementation and management of several large-scale integrated human settlements initiatives throughout South Africa.
Joseph Tembe is an intern at the Centre for Affordable Housing Finance in Africa. He holds a Bachelor of Arts from the University of the Witwatersrand, with a triple major of English, Philosophy and Politics. The combination of these subjects has honed an appreciation for writing and detailed research. As member of the CAHF team, he provides support to the research division, and assists other staff members with their research needs. His main tasks include staying abreast of developments in the housing finance sector across Africa and identifying relevant developments for future CAHF work. He will complete his LLB at the University of the Witwatersrand in 2017.
FRIENDS OF CAHF
Aqualine Suliali is a consultant for the Centre for Affordable Housing Finance in Africa. She has extensive management consulting experience and is the Director of GAP Solutions. She is also currently consulting for the PYGMA Group on their affordable housing projects. Previously, she was Project Director at Angsam Holding, a private equity investment firm with operations in Angola, Mozambique and South Africa. In this capacity, Aqualine was responsible for deal origination, assessment and presentation to the investment committee. Aqualine was a director at Community Investment Strategies (CIS), an affordable housing development firm in New Jersey, U.S.A. She was a project manager at Conifer Realty, a real estate development firm, responsible for the management of housing development and urban redevelopment projects, including acquisition, predevelopment and financing. She holds a Bachelor’s Degree, and a Mini MBA in Finance Essential, from Rutgers University, and attended the Housing Finance Course for Sub-Saharan Africa at the University of Cape Town.
Miriam Maina is a spatial data and analytics consultant at the Centre for Affordable Housing Finance in Africa. Her work focuses on the use of data and analytics to drive a better understanding of African cities, and to support policy making and urban development. She has participated in various research projects on housing and informal settlements, as well as urban and rural planning, working as a project manager, researcher and data analyst. She is also a doctoral student at the School of Architecture and Planning, University of the Witwatersrand, where she’s studying the influence of spatial planning in shaping the City of Johannesburg’s urban space economy. She has an MSc in Town and Regional Planning (Distinction) from the University of the Witwatersrand, and a BA Degree in Urban and Regional Planning (Hons) from the University of Nairobi.
FUNDERS AND PARTNERS
CAHF is grateful to its funders and partners for their support.
FSD Africa is a £35 million financial sector development programme, or ‘FSD,’ created in 2012 and based in Nairobi. It is funded by the UK Government’s Department for International Development (DFID). FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive. FSD Africa is a market facilitator or catalyst. It applies a combination of resources, expertise and research to address financial market failures and deliver a lasting impact. FSD Africa has a mandate to work across sub-Saharan Africa on issues that relate to both ‘financial inclusion’ and ‘finance for growth.’ FSD Africa is also a regional platform. It fosters collaboration, best practice transfer, economies of scale and coherence between development agencies, donors, financial institutions, practitioners and government entities with a role in financial market development in sub-Saharan Africa. In particular, FSD Africa provides strategic and operational support to the FSD Network.
Agence Française de Développement (AFD), is a public development-finance institution that has worked for seventy years to alleviate poverty and foster sustainable development in the developing world and in the French Overseas Provinces. AFD executes the French government’s development aid policies. In 2015, AFD committed over Euros 8.1 billion to finance projects in developing countries and overseas France. AFD operates on four continents via a network of seventy-two field offices and bureaus, including nine in France’s overseas provinces and one in Brussels. The Agency provides financing and support to projects that improve living conditions, boost economic growth, and protect the planet. AFD fulfills its mission with help from its private-sector arm, Proparco. The private sector is an essential link in the development chain because it creates jobs and invigorates economies.
The African Union for Housing Finance (AUHF) is an association of forty mortgage banks, building societies, housing corporations and other entities involved in the mobilisation of finances for the development of shelter and housing on the African continent. The AUHF is a non-governmental association and has its presence in sixteen countries across Africa.
The National Housing Finance Corporation (NHFC) is one of several Development Finance Institutions (DFIs) created by the South African Government to sustainably improve on the socio-economic challenges of the country. The developmental financial focus of the NHFC is specifically about finding workable models on affordable housing finance for the low- and middle-income target market.The NHFC was established in 1996, by the then National Department of Housing (NDoH), to offer housing finance, project facilitation and technical assistance to private and public entities ensuring availability of housing stock for the target market. As a means of sustaining its funding programs, the NHFC searches for better ways to mobilise finance for affordable housing from sources outside the state in partnership with the broadest range of organisations. The NHFC, in the affordable housing finance market sector, adopts a role of financier, facilitator and innovator, to ensure viable housing finance solutions; growth of sustainable human settlements; and mobilisation of relevant partnerships, through enhanced insights and knowledge gained.
FinMark Trust, an independent trust based in Johannesburg, South Africa, was established in 2002, and is funded primarily by UKaid from the Department for International Development (DFID) through its Southern Africa office. FinMark Trust’s purpose is ‘making financial markets work for the poor, by promoting financial inclusion and regional financial integration’ as well as institutional and organisational development, in order to increase access to financial services for the un-served and undeserved. FinMark Trust commissions research to identify the systemic constraints that prevent financial markets from reaching out to these consumers and by advocating for change on the basis of the research findings.