An Austria-based company, Global Housing Solutions, has proposed to build affordable houses in Namibia, through a government-based loan of N$1.4 billion (70 million euros).

Austria’s 10th federal chancellor Alfred Gusenbauer said  who during a courtesy visit to President Nangolo Mbumba yesterday that through their facilitation, the Namibian government could enter a contract with an Austrian commercial bank with a grace period of three years before repaying the loan.

He said for export guarantees, the loan will be controlled by the Austria state-owned bank and partners.

“We can replace slums, and bring very modest living conditions for the people through our affordable houses. It’s possible because the cost of construction is very low, compared to other technology,” he said. Gusenbauer said the company has built affordable houses, schools and hospitals in 10 African countries, 21 in South America, and eight in Europe. When building houses, the company equally invests in a local production plant with local partners, which can create jobs for around 200 people.

Mbumba advised the federal chancellor to consult the Ministry of Urban and Rural Development, and Ministry of Finance and Public Enterprises on the matter.

He said Namibia needs affordable houses, schools, vocational training centres and clinics.

“The President does not decide on money issues, but I can say we need the product, and we need them like yesterday. I hope it will be possible to have direct negotiations on money issues with the ministry of finance which can advise the government, which can further advise the Cabinet,” Mbumba said. -Nampa