Browsing: Shelter Afrique

Shelter Afrique recently finished its first bond issuance in Nigeria’s capital market, which was a 46 billion nairas ($110.7 million) Series 1 Fixed Rate Senior Unsecured Bond Issuance. This was done as part of Shelter Afrique’s 200 billion nairas ($481.3 million) bond issuance programme, which will be used for the development of housing and urban areas in Nigeria.

Shelter Afrique was able to exercise the ‘green shoe’ option and raise an additional 6 billion (US $14.4 million) more than the original 40 billion plan (US $96.3 million) because the dual-tranche bond issuance was oversubscribed by 60.7%, with the order book peaking at 64.3 billion (US $154.6 million). This allowed Shelter Afrique to raise an additional 40 billion (US $96.3 million).

The high rate of oversubscription is evidence that investors have faith in Shelter Afrique’s mission to facilitate the construction of housing in Africa, as well as the institution’s excellent management …

African Ministers and Heads of Delegation of Ministries in charge of Housing and Urban Development, African Finance Ministers, the Directors and Management of Shelter Afrique, and representatives of international, regional and national institutions, the private sector and civil society, have agreed to enhance mechanisms for the mass production of decent and affordable housing in the continent to achieve social and economic development.

During a three-day summit at the 40^th Annual General Assembly of shelter-Afrique that was held in Yaunde Cameroon, the participants resolved to address the challenges that have hindered the efforts to provide decent and affordable housing in Africa.

In a research concluded by the Shelter-Afrique, a pan African housing finance and development institution, shows that the overall shortage of housing in Africa is estimated at 56 million housing units with out of this, more than 90 per cent are in affordable housing bracket.

The Managing Director …

Shelter Afrique has signed an US$11 million housing deal with Harare-based African Banking Corporation (BancABC).

The Pan-African housing development financier which was established by African governments to address the need for sustainable housing delivery system and related infrastructure projects in Africa announced on Tuesday, June 8, 2021, that the facility will be used for the construction of 2,500 residential housing units.

Through a press statement sent to newsrooms, the institution said the deal will also facilitate mortgage origination, home extension & improvement; onward lending to affordable housing projects; and financing small-scale commercial projects such as small shopping malls.

African Banking Corporation of Zimbabwe Limited (“BancABC”) is part of ABC Holdings Limited (ABCH), a Botswana-incorporated company. ABCH was created by the amalgamation of regional and international businesses that had been active in the sub-Sahara financial markets for 50 years.

Housing backlog in Zimbabwe

According to shelter Afrique Group Managing Director and …

NCBA Bank has signed up a partnership with Shelter Afrique to provide mortgage finance to buyers in five counties.

Under the agreement, NCBA will offer mortgage finance to over 200 housing units developed by Shelter Afrique and spread across Nairobi, Mombasa, Kisumu, Kiambu and Machakos counties.

The developments include maisonettes and apartments ranging from Ksh5.5 million ($49,931) to Ksh 20.25 million ($183,840).

Commenting on the agreement, NCBA’s Head of Property Finance Stella Mutai said the bank will continue to seek partnerships in order to improve access to housing within the country and the region.

“This is an exciting partnership with Shelter Afrique as we work together to bridge the housing gap across the country and the region,” said Stella.

Stella added: “The huge volume of houses that our country needs will require closer partnerships to help meet the growing housing needs in our major cities and towns.”

Speaking on the …

Shelter Afrique, Pan-African housing development financier signed a Memorandum of Understanding (MOU) with two Chinese construction firms to scale up the development of large-scale affordable housing projects in Kenya and its member States.

The two Chinese construction firms are Amberton International Holdings and Sichuan Huashi Enterprise Corporations E.A. LTD, with the MoU expected to boost Shelter Afrique’s mandate of providing decent and affordable housing in Africa.

The MoU was signed by Andrew Chimphondah, Shelter Afrique Chief Executive Officer, Nancy Yu, Amberton International Holdings Director and Sichuan Huashi Enterprise Corporations E.A. LTD Managing Director Cao Zheng.

“As a company, our overriding strategy is the provision of affordable housing across our member States through public-private partnerships.  This strategic partnership with Amberton and Huashi will be key in expanding our projects across the continent as we draw from the experiences of the two companies. Shelter Afrique will work closely with Amberton International Holdings …

Uhuru Kenyatta, President Kenya emphasized the importance of housing and construction sector in the post-Covid recovery plans during the Shelter Afrique’s 39th AGM and Symposium in Nairobi.

Reading a speech on his behalf at the opening ceremony, the Cabinet Secretary Infrastructure, roads, housing and urban development, Mr James Macharia, Uhuru Kenyatta said despite the severe impact the sector has experienced due to economic slowdown, the sector can rebound quickly.

“The construction sector can therefore be targeted to lead the rebound in the broader economy. Economic history teaches us that the construction sector, including housing construction, has been very effective in driving economic recovery. Housing construction provides excellent opportunities for job creation,” President Kenyatta said, adding that while the construction sector requires significant capital, record-low interest rates have made the cost of financing construction projects remarkably affordable.

“The affordable housing agenda should remain front and centre in the economic recovery debate …

The  Federal Republic of Nigeria commits  $29.3 million in additional capital to Shelter Afrique making it the second-largest shareholder after Kenya.

Nigeria takes the second largest shareholding after Kenya with each acquiring 14.77 per cent and 14.87 per cent respectively with the African Development Bank acquiring 14.28 per cent of the shareholding.

In additional capital contribution, the Shelter Afrique also confirmed additional funds of $6.6 from Rwanda, Uganda, Lesotho, Mali, Namibia, Togo, Zimbabwe, and Swaziland.

The Shelter Afrique’s Group Managing Director, Mr. Andrew Chimphondah praised Nigeria’s government for showing confidence in the institution and giving a stamp of approval for the organization’s financial turnaround.

“We are grateful to the Nigerian government for their continued support and the importance they have placed on affordable housing. We are especially grateful to the Honourable Minister for Works and Housing, Babatunde Fashola for demonstrating this support through honoring this significant payment. We also recognize …

After signing a deal with a Rwandan bank to build 2,000 affordable housing units, Shelter Afrique is heading to Senegal in West Africa for a similar deal.

The Pan African housing developer has signed a US$11.6 million line of credit with Senegal’s Teyliom Group for the construction of affordable housing units.

Shelter Afrique says the money will go toward the development of affordable housing with the world-class Diamniadio Lake City (DLC).

The deal with Teyliom Group is the first significant project Shelter Afrique has embarked on in Senegal since 2016 and is the second transaction the Company is making with the Teyliom Group.

When complete, the project is expected to deliver large-scale affordable housing of 3,439 units with selling prices starting at US$26,000 for more than 20,000 individuals and create more than 3,000 jobs, with a sizeable number of those being held by women.

The high-density estate has been designed …