TMRC and CAHF Work Together to Deepen Understanding of Housing Finance in Tanzania
The Tanzania Mortgage Refinance Company Limited (TMRC) and the Centre for Affordable Housing Finance in Africa (CAHF) jointly committed to deepening understanding of the housing finance market in Africa, and in Tanzania in particular, through the signing of a Memorandum of Understanding (MoU) on future cooperation.
The Tanzania Mortgage Refinance Company Limited (TMRC) and the Centre for Affordable Housing Finance in Africa (CAHF) jointly committed to deepening understanding of the housing finance market in Africa, and in Tanzania in particular, through the signing of a Memorandum of Understanding (MoU) on future cooperation, this week. Both organisations have committed themselves to cooperate in applying their knowledge to advance public and private initiatives to increase access to housing finance, especially to the lower and middle income housing market, and to improve the functioning of the housing market in Tanzania.
The focus of this partnership is specifically on Tanzania. TMRC’s focus is limited to Tanzania and CAHF has identified Tanzania as a priority country in terms of its three-year strategy which extends to 2021.
A key strategic focus area for both CAHF and TMRC is to develop data platforms and analytical frameworks to enable effective, data-driven policy and decision-making in support of affordable housing markets in Tanzania.
The strategic intent of the partnership between TMRC and CAHF is to collaborate in support of effective, data-driven policy and decision-making in Tanzania’s housing market. This will involve the sharing of data and methodologies, as well as the joint commissioning of research and analysis, on the role of housing in the Tanzanian economy, the functioning of Tanzanian property markets, the performance of Tanzania’s mortgage market, as well as other issues to be explored in the course of the partnership.
In signing the agreement, Mr Oscar Mgaya, the Chief Executive of TMRC, outlined that the collaboration would begin with four initiatives:
Data exchange towards the mutual development of databases to support analytics for the development of Tanzania’s mortgage market
Building a Housing Economic Model for Tanzania (or for a specific State or city as a first step)
Mortgage market analysis: data analysis to assess mortgage access, performance and profitability in Tanzania.
Over the course of the collaboration, additional initiatives may also be identified. Both TMRC and CAHF recognise the mutual advantages of collaboration with each other and with the broader network of organisations operating in Africa’s housing sector, given their overlapping objectives and programmes. This MoU represents one of several such partnerships in which both TMRC and CAHF contribute to and facilitates joint initiatives and shared learning opportunities in areas of mutual interest.