Shelter Afrique has received an additional capital contribution amounting to $3.5 million from the Government of Cameroon, raising the country’s shareholding from 3.61% to 5.24%.
Earlier in July this year, Kenya became the majority shareholder with additional capital amounting to $9,276,437, raising its stake to 18.72%.
This new investment makes Cameroon the 8th country to inject fresh capital into the pan-African housing financier this year. Other contributions made so far in 2021 include Mali ($2,062,994), Rwanda ($1,099,826), Uganda ($41,740), Swaziland ($323,687), Togo ($580,000), Cote D’Ivoire ($569,295) and Kenya (US$9,276,437).
Shelter Afrique is a Nairobi-based pan-African housing financier owned by 44 member states, including Kenya, the host nation, the African Development Bank (AfDB), and Africa Re. The firm has also invested in KMRC (Kenya Mortgage Refinance Companies).