Republic Cement PR | March 27, 2019
In addition to helping low-income families obtain affordable home loans, Republic Cement’s Tahanan Ko program has also been supporting the company’s over 1,000 partner retail stores in Luzon and the Visayas. A total of PHP675 million worth in revenue has been generated by the program since its inception in November 2013.
Republic Cement partnered with microfinance institutions (MFIs) for Tahanan Ko and released 7,436 housing loans in 2018 alone through which local retailers realized PHP167 million in revenue.
The impact of our Tahanan Ko affordable housing initiative has gone beyond addressing the housing backlog in the country and providing access to low-income families to affordable housing loans. It has also boosted the earnings of our local entrepreneurs.
– Nabil Francis, CEO and President, Republic Cement
The partnerships with MFIs also allows Republic Cement to provide technical advisors and technical training to foremen and MFI employees on basic house construction and safety to ensure safe and better-built homes.
Tahanan Ko introduced a key innovation to the process of acquiring the funds. Instead of releasing cash to the loanees, MFIs issue purchase orders for construction material requirements to local retail partners. These retailers deliver the materials to construction sites and receive payment directly from the MFI.
Corazon Cortezano, one of Republic Cement’s retail partners in Nagcarlan, Laguna, said Tahanan Ko has significantly improved the earnings of their small business. “We have been receiving purchase orders every month. Our store sales increased because of Tahanan Ko, and that means a lot to us,” she shared.
Currently, Republic Cement has a standing partnership with MFIs across the Philippines such as Tulay sa Pag-unlad, Inc. (TSPI), Alalay sa Kaunlaran, Inc., (ASKI), Negros Women for Tomorrow Foundation (NWTF), and Taytay sa Kauswagan, Inc. (TSKI). Through Tahanan Ko, they have released 28,700 housing loans that today benefit close to 150,000 lives.
In 2018, National Economic Development Authority (NEDA) cited the integral role of the private sector in addressing the country’s housing backlog estimated to be over six million housing units by the year 2022. In support of this, Republic Cement is set to expand Tahanan Ko in Mindanao in 2019, eyeing to reach more families in Cagayan de Oro and Zamboanga.