Shelter Afrique plans to open a $10 million credit facility for CRDB Bank to support affordable housing projects in the Democratic Republic of Congo (DRC). The pan-African housing finance institution formalized the plan by signing a memorandum of understanding with the Tanzanian commercial bank on the sidelines of the World Bank and IMF annual meetings held in Washington, D.C., from October 13 to 17, 2025.
The preliminary agreement also includes advisory support from Shelter Afrique to help CRDB Bank’s housing finance team better address the full housing value chain.
According to Shelter Afrique CEO Thierno-Habib Hann, the initiative reflects both institutions’ shared commitment to expanding access to affordable housing while promoting regional trade in building materials. It also aligns with a 2023 memorandum signed between Shelter Afrique and the DRC’s Ministry of Urban Planning and Housing, which aimed to co-finance housing projects, arrange additional funding, provide technical assistance, and help the government assess the national real estate market.
Initially, the collaboration will focus on CRDB Bank’s operations in the DRC, with potential future expansion to Tanzania and Burundi. The timeline for the final agreement and implementation of the facility has not yet been disclosed.
In 2023, UN-Habitat estimated the DRC’s housing deficit at 4 million units. With over 15 million residents, Kinshasa alone accounts for 54.4% of the housing need. Meeting this demand would require building 143,092 homes annually in the capital and 265,000 nationwide.
Funding for the housing sector remains scarce. A 2022 IFC study found that total mortgage credit in the DRC stood at only $30 million, representing less than 1% of all loans in the country. Through its partnership with Shelter Afrique, CRDB Bank aims to expand into this market.
Operating in the DRC since 2023, CRDB Bank is still in its establishment phase, with branches in Kinshasa and Lubumbashi. This investment phase has weighed on its results: according to its 2024 annual report, the bank posted a loss of 6.6 billion Tanzanian shillings ($2.5 million) during its second year of operations in the country.
