The Vice President of Tanzania, Dr Mohammed Gharib Bilal announced that the current shortage of housing in Tanzania can only be achieved through Public Private Partnerships (PPP).
Current shortage is estimated at 3 Million units with a national demand for housing growing at a rate of 200,000 per year.
The investment needed is huge and cannot be met by the government of Tanzania alone stressed Dr Gharib Bilal.
For this the government has enacted and amended various legislations to invite private investments participation.
This includes the enactment of the Mortgage Finance Act and the establishment of the Tanzania Mortgage Refinancing Company (TMRC) aimed at promoting loans to the house construction.
Tanzania also saw the launch of the Tanzania Buildings Agency (TBA) in 2002 as part of the Public Service Reform Program (PSRP) to provide quality and affordable accommodation to the government and the public servants.
According to TBA Chief Executive Mr Elius Mwakalinga the agency plans to construct 10,000 new houses by 2016.
