Browsing: Shelter Afrique

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 …

By 2030, nearly half of Kenyans will be living in cities as many young people keep moving to urban areas in search of jobs and other opportunities…

Pan-African financier that exclusively supports the development of the housing and real estate sector in Africa, Shelter Afrique, has urge governments to establish a housing microfinance fund to improve access to housing finance by those in the lower end of the market.

Speaking at the Affordable Housing Investment Summit in Nairobi recently, Shelter Afrique’s Chief Executive Officer Andrew Chimphondah said most policies had an exclusive urban focus, and non-consideration of the low-income groups and the rural areas.

According to Shelter Afrique, establishment of such a fund would make it easier to facilitate efficient and inclusive housing market systems and make affordable housing a reality across Africa.

Currently, 90 per cent of Africans cannot afford to buy a house or qualify for a mortgage.

READ ALSO:AfDB to inject more millions to support affordable housing in Africa

“Access to adequate housing for low-income earners is a critical development issue globally and …