New Investments
Proparco and 27four Invest $28.7 Million in SA PropTech Divercity to Address Affordable Housing Crisis in South Africa
Carel Kleynhans, CEO of Divercity, expressed his appreciation for the investment, emphasizing its crucial role in facilitating the construction of much-needed affordable housing units.
Mardé van Wyk, Principal at 27four, acknowledged the pressing need for quality and affordable housing options in South African cities.
This investment aligns with the South African government’s priority of increasing access to affordable rental housing and addressing the critical housing shortage.
A recent report by Harvard University’s Growth Lab identified spatial exclusion as a major obstacle to economic growth in South Africa, alongside challenges related to state capacity.
Divercity’s round of funding marks a significant step towards addressing the vital need for affordable housing in South Africa and promoting sustainable urban development.
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