Empowa commits to start unlocking affordable finance for Beira´s Maraza housing project
On the 22nd of November 2022, Empowa signed a Memorandum of Understanding with the Municipal Council of Beira to start mobilizing funding for the construction of apartments in the Residential area of Maraza. The project will consist of building affordable apartments for low and medium-income families that are resilient to the climate changes that the city of Beira has been experiencing, following the model of the CMB master plan.
Empowa is a financial platform that aims to unlock affordable and climate-smart housing opportunities in Africa. In Beira, Empowa works with its partner Casa Real Lda, which has a track record of delivering affordable housing in the Inhamizua area of the city. Empowa already implements a ‘lease to buy’ pilot program in Beira with Casa Real that has the potential to increase access to affordable, climate resilient housing for over 60% of the population city of Beira. This means that teachers, health professionals, fishermen, technicians and domestic workers now have the opportunity to use their formal and informal incomes to access quality, climate-smart homes.