The International Finance Corporation (IFC) has announced an investment of ZAR 1 billion ($58 million) in Balwin Properties in South Africa, which would facilitate the construction of over 16,000 affordable houses near Johannesburg, particularly in the Mooikloof City development east of Pretoria.

This initiative aims to enhance the local availability of affordable, high-quality housing for low- and middle-income buyers.

The Mooikloof City project is part of a broader initiative designed to address housing shortages in South Africa and promote sustainable urban development.
The initiative seeks to improve living conditions and stimulate the local economy by providing affordable housing, hence solving existing challenges.

The IFC’s investment underscores its commitment to supporting initiatives that promote inclusive and sustainable development throughout Africa.