Creditinvest Strikes Deal To Build Houses For Doctors
Pauline Dikuelo | Monday August 24, 2020 12:24
Last week, Botswana Doctors Union signed a Memorandum of Understanding (MoU) with the Malta-based corporate finance and consulting firm, Creditinvest International to help build houses for health professionals.
Under the deal, 600 stand-alone townhouses will be built for interested public sector medical practitioners and dental doctors in selected areas of Botswana.
The stand alone town houses are earmarked for construction in four major centres of the country namely Gaborone, Francistown, Maun and Palapye.
Botswana Doctors Union president, Dr Shingie Muzondiwa said phase one of the project will commence in Gaborone where 300 townhouses will be built. Construction is expected to start in December this year and the completion date is set for December 2021.
“The construction of these houses privately by Credinvest International for doctors will ease housing pressure on the government as the population of doctors in the country increases yearly,” Muzondiwa said.
The execution of the project comprises the design and realisation of the housing, including but not limited to detailed designing, environment impact assessment, furnishing and overall project management.
Head of Credinvest’s Corporate Affairs Africa, Lawrence
Larson said the three-bedroomed town housing units will be paid on a very flexible payment arrangement that will not mount pressure on the monthly salary of the health professionals while also eliminating the commitment of long term financial obligations.
“Aside from the major benefits that these housing units will offer to the healthcare professionals, the project will employ approximately 5,000 Batswana to aid in the construction.
We at Credinvest International will source most materials for this project locally to boost the local trading industry,” Larson said.
Creditinvest International Botswana provides high active project financing and consulting services to offer tailored, focused and dynamic solutions to both the private and public institutions. The company offers financing into every sector of the economy from healthcare, transportation (highways, Railways, airports) energy, tourism, agriculture and education to infrastructure.
“Not all businesses need bank guarantees to be financed by Credinvest International, though financing of projects which do not need guarantees require appropriate structuring. An example of such are Public-Private Partnership models where the public sector and the private partner share the risks of a project in the manner such that each partner takes the risk most suitably managed by their entity. With the private owned business, we typically require the local bank to serve as a lien between the prospect and the lender,” Larson stated.
Larson said they recognize that there are substantial investment opportunities in Botswana that could benefit the citizens on a larger scale.
He said since their aim is to invest in infrastructural issues of national interest, Credinvest International will extend these opportunities to other public servants in Botswana, offering to finance and construct affordable housing units with flexible payment structures.
The newly established Doctors Union is made up of medical and dental doctors, with 90% of its members being from the public sector and one of the visions of the union is ensuring that all doctors in Botswana should atleast own a house before laying down their tools for pension.