This archive report was first published on 9 July 2021.
Published on July 9, 2021, Kenya has invested an additional KSh1 billion in Shelter Afrique, a pan-African housing financier, increasing its stake in the company.
This new investment brings Kenya's shareholding up from 14.82% to 18.72%, surpassing Nigeria and Africa Development Bank's shareholding of 13.71% and 13.25%, respectively.
Kenya's contribution is part of a larger effort to inject fresh capital into Shelter Afrique, with seven other countries also providing additional funding. In the last six months, the firm has received KSh1.94 billion in fresh capital, with Mali contributing $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 owned by 44 member states, including Kenya, the African Development Bank, and Africa Re. The firm has also invested in Kenya Mortgage Refinance Companies (KMRC).
