This archive report was first published on 17 August 2021.
Published on August 17, 2021, Shelter Afrique, headquartered in Nairobi, has expanded its shareholder base by admitting Niamey-based Fonds de Solidarite Africain (FSA) as its 47th shareholder.
FSA joins Africa Development Bank and Africa Reinsurance Corporation under the 'Class-B' shareholding category, holding a 0.6% stake in the pan-African housing outfit.
Speaking at the signing ceremony in Nairobi, Dr. Steve Mainda, Shelter Afrique's Chairman, revealed that the move to admit FSA as a shareholder was approved at the company's 40th Annual General Meeting held in Cameroon in June this year.
Shelter Afrique has been actively collecting subscriptions from current shareholders and seeking new members in recent years.
According to Andrew Chimphondah, Shelter Afrique's CEO and Managing Director, FSA's admission gives the firm the opportunity to fulfill its dream of providing affordable housing to all Africans.
Fonds de Solidarite Africain, established in December 1976, aims to facilitate economic development in African member states by providing access to loans for productive investment projects and promoting the mobilization of local and external savings.
"Fonds de Solidarite Africain's pan-African outlook, vision, and mission align with those of Shelter Afrique, and we are pleased to be part of the Shelter Afrique family," said Fonds de Solidarite Africain Managing Director Ahmadou Abdoulaye Diallo.
