Letshego and Ongos Valley have announced a partnership that aims to tackle the challenge of affordable housing by combining accessible financing with well-designed, sustainable homes.
Letshego Namibia’s Chief Executive Officer Ester Kali said the bank will offer financing solutions tailored for low- to middle-income earners, including debt consolidation to ease the financial burden.
Loan terms will range from 5 to 30 years, catering to various needs and budgets.
“Letshego Bank is committed to inclusive financing solutions and aligns perfectly with Ongos Valley’s vision to create sustainable communities. Together, we are not just providing affordable housing, we are building a future together,” she said.
Ongos Valley Group Chairman Reagan Graig said the partnership focuses on “elevating human dignity” through homeownership.
Ongos Valley will provide affordable housing units with infrastructure already in place, ensuring a sustainable living environment.
“You need an affordable house, that where Ongos comes in, we have committed to investing in infrastructure, we have already built a number of affordable homes but on the other end, you also need a partner that does the financing and the debt consolidation as well as mortgages and is quite eager to make that journey of home ownership a pleasant journey ultimately,” he said.
Ongos Valley is situated on a portion of Farm Ongos, 13 kilometres from Windhoek’s CBD, and measures 1,750 hectares.
The project will be completed over five phases, with the first phase erecting 4,500 housing units while in 20 years the project aims to have a total of 28,000 housing units.
The project will also have shopping malls, 22 schools as well as government and key institutions, including a fully fledged private hospital.
The project has also undertaken the upgrading of Peter Nanyemba Road, previously known as the Monte Christo Road into a dual carriageway to the tune of around N$381 million.
