Shelter Afrique has received an additional $2.7 million investment from Kenya, representing an additional 1.24% stake. This new investment now moves Tanzania’s shareholding up from 0.3% to1.54%.
Tanzania’s capital payment thus reduces the shareholding of the top three shareholders – Kenya, Nigeria and the African Development Bank (AfDB). Kenya now owns 17.78% of the company from 18.72% it held in July. Nigeria and AfDB now own 13.27% and 12.83%, respectively.
Shelter Afrique, which provides long-term credit lines for primary mortgage lenders, housing micro-finance institutions and re-financiers, has since inception approved financing in Tanzania worth $52 million.
Nine other countries have also given Shelter Afrique additional capital, bringing the fresh capital received by the housing financier in the last six months to $20.69 million.
Kenya contributed $9.92 million followed by Cameroon ($3.53 million), Mali ($2.06 million), Rwanda ($1.1 million), Uganda ($0.08 million), Togo ($0.58 million), Eswatini ($0.32 million), Cote d’Ivoire ($0.57 million), and 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).