This is the second Pan African Housing Fund’s (PAHF, the Housing Fund or the Fund) development impact report and covers the period from its first investment in 2014 to December 2020.
PAHF is a US$ 41.95 million residential real estate private equity fund, managed by Phatisa, with a focus on addressing the shortage of quality affordable middle-income housing facing sub-Saharan Africa. The Fund
was also designed to tackle the need to upskill local property developers in line with best international standards, as well as creating stable communities that provide access to basic services such as water, electricity and sewerage; better quality of life through less distance to commute to work and amenities and safe places where families can raise children. The report focuses on five direct investments made by PAHF: Westpoint Heights, Westlands Place, Nakuru Meadows, Izuba City and Makeni Heights (previously known as Camland Villas). The sixth investment made by PAHF is 72 Magadi Road; however, it is a plot of land which will not be developed and will be sold as is. As such, this investment is not discussed in this report nor is data from this site (other than job creation for the caretakers) factored into the Fund’s overall impact performance.