EPC Africa CEO on how to make affordable housing a reality in Rwanda

Affordable housing has been a hot topic in Rwanda, with many middle-class citizens struggling to find housing within their budget. CNBC Africa had the opportunity to sit down with Ferdy Turasenga, the CEO of EPC Africa, to discuss the feasibility of affordable housing in the country. Turasenga highlighted the need for proactive planning in urban development, emphasizing the importance of working with communities to address housing needs. He stressed the significance of essential services like health, education, and housing, pointing out that investing in housing is a long-term asset that can positively impact communities. Turasenga urged investors to consider putting their money into the housing sector, citing the rapid urbanization in Rwanda as a driving force for investment. He emphasized the need for flexibility in housing options to cater to different needs, showcasing EPC Housing's model that adapts to individuals' changing circumstances. The company's focus on affordable yet high-quality housing aims to provide dignified living spaces at reasonable prices. Turasenga also addressed the misconception that affordable housing equates to cheap quality, explaining that affordability refers to financial accessibility without compromising on quality. EPC Housing's pricing model reflects this commitment, offering square meter costs at around $5 to $6. Turasenga discussed the company's plan to roll out a housing project in Canomba, expecting to have at least 500 houses by June 2022. The project's success hinges on a public-private partnership that includes government support for infrastructure development. Turasenga's background in the energy sector and his experience in securing funding for previous projects informed his approach to seeking alternative sources of financing for the housing project. He discussed the potential issuance of a bond to raise capital from the public market, highlighting the importance of involving local resources in economic development. Despite facing initial skepticism and challenges in garnering trust and navigating regulatory frameworks, Turasenga remains optimistic about the future of affordable housing in Rwanda. He calls for a collaborative effort to address housing needs, prioritizing innovation and adaptability in the industry. As EPC Africa continues to push boundaries in the housing sector, Turasenga's vision for transforming affordable housing in Rwanda shines as a beacon of hope for a brighter future.