Minister approves 137 low cost housing for Limbe II

The Minister of Housing and Urban Development, Jean Claude Mbwentchou, has urged other Cameroonian businessmen, such as Options for Homes Limbe, to join efforts with Government and try to provide decent houses for Cameroonians.

Minister Mbwentchou was speaking in Limbe on January 21 as he presided at the signing ceremony of a housing loan agreement being offered by Credit Foncier to a Limbe-based low-cost Housing NGO, Options for Homes.

The loan, totaling some FCFA 485 million, shall be used by Options for Homes to construct some 137 lodgings within the Limbe II Municipality for the benefit of the population.

The Minister stated that the project was firmly in line with Government’s drive to provide decent lodgings to Cameroonians at affordable costs.

The CEO of Options for Homes, Henry Niba Awantoh, said the money, which, his NGO, according to the terms of the agreement, shall refund after three years, will enable Options to build some 137 lodgings and place at the disposal of Cameroonians to acquire and leave in at an affordable cost.

“I want to thank the Minister of Urban Development and Housing for his trust in us,” Niba said. He said it was thanks to the Minister’s belief in what they intend to do that he encouraged Credit Foncier to accord them the loan to go ahead with their housing project.

The Options CEO said their future plan was to be able to build, at least, 1,000 lodgings every year, if they will be able to raise the financing needed. He added that they intend to have more financial partners so that they can expand their drive to provide accommodation to needy Cameroonians in other towns such as Kumba, Buea, Douala and Yaounde.

“A house is something that one cannot do without. But there tends to be a housing shortage in Cameroon. For this reason, we have taken the commitment that nobody comes to us and goes back without a house,” Options CEO said
Niba said the houses will be for all calibre of persons and built to meet the reach of everyone.

Niba, later on, took the Minister who was accompanied by the Southwest Governor round to see some of the houses he has already started constructing.

The Mayor of the Limbe II Council, Duncan Molindo disclosed that the Minster already asked for an estimate of what it will cost to tarred the road to the housing complex and round.

During the opening of the signing ceremony, the Mayor expressed great satisfaction to the project as he said it was going to boost the growth of his Municipality. He said that with the presence of big companies within his municipality such as SONARA, the Cameroon Shipyard among others, such a housing project was very necessary.

The Director of Credit Foncier said they will be ready to add even more money so long as Options makes good use of what they have already offered them and also respect the terms of their agreement. “It is a great pleasure for us to sign this agreement with Options for Homes,” the GM of Credit Foncier, Jean Paul Missi said.

Credit Foncier du Cameroun, CFC, is a Government set up Real Estate bank meant specifically to finance housing projects for low income Cameroonians. The GM said that since 1977, they have given out a total of some FCFA 261 billion as laons and some 16,500 lodgings have been realised.