Shelter Afrique eyes sovereign lending market to fund housing projects

AFRICA – Shelter Afrique, a pan-African finance institution, has announced plans to develop a Sovereign Lending product that will supplement its traditional products that attend to both the demand and supply sides of the housing value chain. Shelter Afrique Ag. Managing Director Kingsley Muwowo said Africa’s GDP contraction resulting from the Covid-19 pandemic was an alarming sign of a slump…

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Housing development financier Shelter Afrique appoints Thierno-Habib Hann as new CEO

KENYA – Shelter Afrique, a housing development financier, has appointed Thierno-Habib Hann as the new Chief Executive Officer, succeeding Mr. Andrew Chimphondah who left the company in February this year.  Mr Hann currently serves as the Asia-Pacific Lead for housing finance at the International Finance Corporation (IFC), based in Bangkok, where he leads the strategy development and implementation of He…

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Housing development financier Shelter Afrique records US$1.04m in net profit for 2021

AFRICA – Pan African housing development financier Shelter Afrique has posted an operating profit of US$1.04 million up from operating loss of US$0.58 million the Company recorded in 2020, backed by impairment recoveries and effective cost control measures.  The Company contained its operating expenses at US$8.04 million in 2021 down from US$8.44 million in 2020, representing a 10% decline. It…

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Nigeria increases its shareholding in Shelter Afrique with US$7m additional capital subscription

NIGERIA – Shelter Afrique, a Pan-Africa housing development financier, has received US$7.15 million in additional capital subscription from the Federal Government of Nigeria taking its shareholding to 15.8%, one-percentage point behind top shareholder Kenya, which currently stands at 16.85%.  The other top three shareholders of Shelter Afrique whose shareholdings now change include African Development Bank (AfDB), which now stands at…

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DRC clears US$1.7m capital arrears in Shelter Afrique, increasing its shareholding to 2.46%

DRC – The government of the Democratic Republic of Congo (DRC) has cleared its capital arrears in the pan-African housing development, Shelter Afrique, after paying the outstanding amount of US$1.7 million. The move now takes DRC’s shareholding in the Company to 2.46%, up from 1.68% held previously. In total, DRC paid US$4.1 million capital contribution last year, significantly increasing its…

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Shelter Afrique set to raise US$500m for affordable housing projects in Nigeria

NIGERIA – Shelter Afrique, the pan African housing finance and development institution, is planning to raise about N250 billion (US$500m) housing bond next month aimed to address the housing deficit in Nigeria. The Company is set to commence the road shows with prospective investors in January 2022 and is expected to conclude fundraising by end of February. “Shelter Afrique has…

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Housing development financier Shelter Afrique set to open its Southern Africa office in Zimbabwe

ZIMBABWE – Shelter Afrique, the Nairobi-based pan-African housing development financier, is considering establishing a Southern Africa regional office in Harare, Zimbabwe.   Shelter Afrique Group Managing Director & CEO Andrew Chimphondah made the announcement after meeting Zimbabwe’s Minister for Housing and Social Amenities Hon. Daniel Garwe in Harare. The Harare office is set to become Shelter Afrique’s third regional office, adding…

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The Gambia ups stake in Shelter Afrique with US$19,200 additional capital payment

KENYA – The Government of Gambia has increased its stake in Shelter Afrique to 0.27% following payment amounting to US$19,218.96 in additional capital. The Gambia is now the 11th country to increase its stakes in the pan-African housing development financier Kenya, Tanzania, Cameroon, Mali, Rwanda, Uganda, Togo, Swaziland, Ivory Coast, and the Democratic Republic of Congo. “We thank the government…

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Tanzania clears arrears in Shelter Afrique, boosts its stake to 1.72%

TANZANIA – The Government of Tanzania has paid its outstanding capital contribution amounting to US$407,284.97 to Shelter Afrique bringing the total contribution to US$3.1 million. By clearing the arrears, Tanzania has now raised its stake in the pan-African housing development financier to 1.72% from 1.54%. In September 2021, Tanzania paid US$2.7 million in capital contribution, significantly increasing its stakes in…

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Shelter Afrique and Cameroon to establish a housing company

KENYA – Shelter Afrique, a pan-African finance institution,  has approved the establishment of a construction company in Cameroon at an estimated cost of US$15 million.  The Industrial Housing Corporation (IHC) is a joint venture initiative that will be managed under a Special Purpose Vehicle (SPV), with Shelter Afrique owning 51% of the Company and the Government of Cameroon owning 49% (through…

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