Shelter Afrique receives USD2.7million capital boost from Tanzania
The Government of Tanzania has increased its stake in Shelter Afrique after paying USD2.7 million in additional capital, the pan-African housing development financier has disclosed.
The Additional stake now takes Tanzania’s shareholding to 1.54% up from 0.3% held previously.
Effectively, the contribution now reduces ownership of the top three shareholders with Kenya’s, Nigeria’s and African Development Bank’s shareholdings now standing at 17.78%, 13.27% and 12.83%, respectively.
Thanking the Government of the United Republic of Tanzania, Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah said it was gratifying to see the unwavering support and renewed confidence by shareholders.
“We thank the government of Tanzania for choosing to increase her stake in Shelter Afrique despite the prevailing condition, and in particular the Ministers for Housing and finance Honourable William Lukuvi and Honourable Mwigulu Nchemba for making the disbursements – It’s a vote of confidence in the Company. We are also grateful to other shareholders who have increased their stakes recently,” Mr. Chimphondah said.
In addition to Tanzania’s contribution the Company has also received additional capital contributions from Kenya (USD 9.92m), Cameroon (USD 3,529,801.29) Mali (USD 2,062,994), Rwanda (USD 1.1m), Uganda (USD 0.08m), Togo (USD 0.58m), Swaziland (USD 0.32m), Ivory Coast (USD 0.57m), and Democratic Republic of Congo (USD 0.5m), bringing the total additional capital receipts to $20.69m within the last six months of 2021.
“We also wish to thank several other shareholders such as Namibia, Zimbabwe Morocco, and Swaziland, Cameroon, Kenya, DRC, Mali, Ivory Coast, Uganda, Rwanda and Togo for their positive response to the call for recapitalization, this continues to show confidence in the strategy of The Company” Mr. Chimphondah said.
Shelter Afrique has approved financing of more than USD 52,246,000 in Tanzania. The Company invested equity into the Tanzania Mortgage Refinance Company (TMRC) in 2014 and has remained an active member. The Company is actively pursuing large-scale low-cost housing projects in both Dodoma and Zanzibar through public private partnerships and the provision of lines of credit.
In August of 2021, Shelter Afrique through its Centre of Excellence, at the invitation of the Revolutionary Government of Zanzibar held a masterclass session for government officials to deepen capacity within the industry. Similar conversations are being held to hold another one in Dodoma as well before the end of the year.
In the same period, Shelter Afrique, as part of its ongoing engagement with Tanzania, led a high-level delegation to meet with the Minister of Lands, Housing and Human Settlements, Honourable William Lukuvi, and Ministry officials where discussions were held on the provision of land for projects featuring innovation and alternative building materials. The Minister committed to the provision of 50 acres of land in Dar-es-Salam where an annual event showcasing the improvements and breakthroughs in the building sciences can be exhibited. Shelter Afrique on its part has committed to developing the concept and will explore the possibility of hosting the first event in 2022.
BY: Shelter Afrique
Do you have any news to share with us? WhatsApp us via +233558210224.
Or email us via [email protected].
Ghanaians should blame themselves for making Akufo-Addo our president – Felix Kwakye Ofosu
Mahama slams NDC MPs for voting to approve Akufo-Addo’s ministers
Any individual person’s Twitter account affiliated with a verified organization is automatically verified – Elon Musk
These are the businesses owned by Rapper Jay-Z
Vaccine Shortage: Ministry of Health receives the first batch of vaccines for children
Government settles NIA’s GH¢100 million debt
Kojo Jones to contest Keta seat on the ticket of NDC
Ghana’s top 5 national parks you must visit
Vote for Kennedy Agyapong to bring Dubai to Ghana – Agya Koo to NPP delegates
Your own utterances called for your dismissal – Subin MP to Finance Minister
Education3 years ago
List of Chinese Universities not taking application fees from all applicants
News3 years ago
“You’ll die before me” – Archbishop Duncan Williams fights Jesus Ahuofɛ
News5 years ago
Shop Owners Around Akufo-Addo’s Nima Residence Given One Week To Relocate
Business3 years ago
Financial sector clean-up costs taxpayers GH¢16.4 billion — Ofori-Atta
Business4 years ago
Luxury tax yields GH¢21.3m in 5 months
Celeb Gossip3 years ago
See this beautiful picture of Bawumia’s son with his mom Samira at Accra Mall
Celeb Gossip3 years ago
VIDEO: Nana Ama McBrown’s fans are worried after seeing her ‘nɛnsoɛbɛn’ face without make-up
News3 years ago
I Didn’t Have Sex With My Wife For 37 Years ― Iranian Opposition Fighter