Union partners with Malta financing company to build houses
Botswana Public Employees Union (BOPEU) has partnered with Credinvest International Corporation, a Malta company for the financing, designing, and development of 5, 000 fully furnished apartments.
The construction of the houses which will be in the form of two-bedroom apartments, two-bedroom stand-alone townhouses, and three-bedroom stand-alone townhouses is expected to commence in May this year.
Speaking at the announcement of the partnership on Tuesday, BOPEU President, Olefile Monakwe described the project as the greatest milestone in the history of the organization.
“In December 2020, BOPEU Services – a company established in 2016 – successfully concluded a 250 million Euros building contact with Credinvest for the finance, design, and construction of rent-to-own apartments of a 7—hectare of land in Gaborone central,” said Monakwe.
The anticipated completion date is December next year, Monakwe explained, adding that the resolution to finance the project has since been signed.
“This development will be a landmark site in Gaborone and will effectively be a city within a city. Furthermore, it will make housing which has been unaffordable for most of our members a reality,” he said.
The Union leader said that for the first time affordable quality housing will be made available to union members.
“This scheme is for BOPEU members and those who want to benefit will have to join the union.”
For his part, Credinvest Head of Corporate Affairs and Country Manager, Lawrence Lawson said through the partnership, Credinvest will demonstrate that linking providers of capital with those in need of it can result in the creation of a beautiful city, which will become a definition of modern Botswana.
“It would also be a testimony of what can be achieved through collaboration,” he said.
According to Lawson, Credinvest’s local presence is a pledge by the company to work side by side with Batswana.
“Empirical evidence shows Africa requires a total of US$4 trillion to achieve its millennium development goals, and we are proud to announce that our firm remains committed to actively working in conjunction with Botswana government and citizens,” he said.