Pan-Africa housing development financier, Shelter Afrique has received USD2.5 million in additional capital subscription from the Government of the Democratic Republic of Congo, DRC post the 40th AGM held in Yaounde Cameroon on the 24th June 2021.
The Additional stake now takes DRC’s shareholding to 1.68% up from 0.74% held previously.
Shelter Afrique Top Shareholders
DRC joins several other countries that have ramped up capital subscription in the Pan-African housing development financier in 2021 which include Kenya (US$9.3million), Cameroon (US$3.53million), Mali (US$2.06million), Rwanda (US$1.1million), Uganda (US$0.1million), Togo (US$0.58million, Tanzania (US$2.67million), Swaziland (US$0.3million), and Ivory Coast (US$0.57million). The current top five shareholding of Shelter Afrique has Kenya as first with 17.61%, followed by Nigeria at 13.15%, the AfDB at 12.71 %, Mali at 5.54% and Ghana with 5.28%.
The boost in capital subscriptions comes on the heels of the Company announcing a bold return to the capital markets; plans are currently underway to register bonds on the Nigerian Stock Exchange and the Nairobi Stock Exchange. It will also be recalled that the Company recently welcomed its 47th shareholder, the Fonds de Solidarite Africain (FSA) as part of its expansion strategy to onboard new shareholders.
READ; Shelter Afrique eyes regional bonds worth $1.25 billion after fully repaying commercial debts
