Tanzanian housing finance leaders join the African stage

PRESS RELEASE

  

 

Tanzania’s own Oscar Mgaya, Acting CEO of the Tanzania Mortgage Refinance Company (TMRC) (right) and Nehemia Kyando Mchechu, Director General of the National Housing Corporation (NHC) (left) , have been elected to the Board of the African Union for Housing Finance, to serve for a two-year term.  The African Union for Housing Finance (AUHF) was established as a member based body of housing lenders in 1984. Comprising 38 members from 17 countries, the AUHF seeks to promote the growth of housing finance across Africa, building institutional capacity at the local level and working with governments for the development of policies conducive for market development.  Through its meetings and activities, the research it undertakes and the news it disseminates to its members, the AUHF has consistently championed the growth of housing finance markets for the benefit of Africa’s populations.

Speaking from his office in Dar Es Salaam, Mr. Mgaya said that “the AUHF has a long history of promoting the development of viable housing finance systems across Africa.  The development of Tanzania’s housing finance market will certainly benefit from this association.”  Mr. Mchechu has also expressed confidence in the benefit that their involvement will have for Tanzania, but added that “we hope our experience in Tanzania will also be seen as useful for other countries in the region.  The benefit of a continental association is that we can share experience and lessons across borders.”

The full, eight-member Board comprises the following:

·         Chairman: Mr Colin Chimutsa, Executive Director of CBZ Bank in Zimbabwe.                   Mr. Chimutsa was re-elected, having already served a term under the former Chairman, Mr. Reginald Motswaiso.

·         Vice Chairman: Mr. Charles Bonsu, General Manager of Mortgage and Consumer Banking at HFC Bank in Ghana.

·         Treasurer: Mr. Cas Coovadia, Managing Director of the Banking Association in South Africa.  Mr. Coovadia, also the current Chairman of the International Union of Housing Finance, was re-elected, having already served a term as Board member.

·         Secretary: Mr. Oscar Mgaya, Acting CEO of the Tanzania Mortgage Refinance Company (TMRC).

·         Mr. Reginald Motswaiso, CEO of the Botswana Housing Corporation, was re-elected to the Board, having served as the previous Chairman.

·         Mr. Manilall Seetohul, Managing Director of the Mauritius Housing Company was also re-elected to the Board.

·         Mr. Nehemia Mchechu, Director General of the National Housing Corporation in Tanzania

·         Mrs. Madu Hamman, Executive Director, Finance and Administration of Abbey Building Society PLC in Nigeria.

Their two-year term will end in October 2014.  For more information, please visit the AUHF’s website: www.auhf.co.za