Shelter Afrique has received an additional KSh1 billion investment from Kenya, representing an additional 3.9% stake. This new investment now moves Kenya’s shareholding up from 14.82% to 18.72%.
Kenya’s shareholding now supersedes that of Nigeria and Africa Development Bank (AfDB0, which now own 13.71% and 13.25 %, respectively.
Kenya’s most recent contribution now brings the total amount given to Shelter Afrique as additional capital in the last few years to KSh9.92 billion.
Seven other countries have also given the firm additional capital, bringing the fresh capital received in the last six months to KSh1.94 billion. Mali contributed $2.06 million, followed by Rwanda ($1.1 million), Uganda ($0.08 million), Togo ($0.58 million), Swaziland ($0.32 million), Ivory Coast ($0.57 million), and the Democratic Republic of Congo ($0.5 million).
Shelter Afrique is a pan-African housing financier owned by 44 member states, including Kenya, the host nation, the African Development Bank, and Africa Re. The firm has also invested in Kenya Mortgage Refinance Companies (KMRC).