Pan-Africa housing development financier, Shelter Afrique has received $7.15 million in additional capital subscription from the Federal Government of Nigeria.
The Additional stake now takes Nigeria’s shareholding to 15.8%, one-percentage point behind top shareholder Kenya, which currently stands at 16.85%.
The other top three shareholders of Shelter Afrique whose shareholdings now change include African Development Bank (AfDB), which now stands at 12.16% down from 12.71 %; Mali at 5.3% down from 5.54%; and Ghana at 5.05% down from 5.28%.
Other countries that have so far ramped up capital subscription in the Pan-African housing development financier in 2022 are Swaziland and Burkina Faso which paid $317,854.54 and $34,610.00 respectively, for additional stakes.
Shelter Afrique recently completed a debut $110.7 million Series 1 Fixed Rate Senior Unsecured Bond Issuance in Nigeria’s capital market under its $481.3 million bond issuance programme for housing and urban development in Nigeria.
The Company plans similar bond issuance in East African markets including Kenya, Uganda, Tanzania and Rwanda.
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