This archive report was first published on 19 November 2021.
On November 19, 2021, the Government of Gambia made a significant move in its investment in Shelter Afrique, a pan-African housing financier, by increasing its stake to 0.27% following a $19,218.96 capital injection.
This development makes Gambia the 11th country to increase its stake in Shelter Afrique, joining Kenya, Tanzania, Cameroon, Mali, Rwanda, Uganda, Togo, Swaziland, Ivory Coast, and the Democratic Republic of Congo.
According to Andrew Chimphondah, Group Managing Director of Shelter Afrique, the firm remains committed to financing real estate projects in Gambia, working closely with Taf Africa Global, a pan-African real estate development company with a presence in 8 African countries and dominance in Gambia and Nigeria.
Taf Africa Global has funded several notable projects in Gambia, including the Kanifing East Housing Project, Brusubi Housing Project, and the development of TAF CITY, an eco-smart city in Gunjur Town, which Shelter Afrique is partly financing.
When completed, TAF CITY will comprise over 5,000 units of affordable homes, housing 25,000 beneficiaries and creating over 80,000 direct and indirect jobs.
Shelter Afrique has received over $20 million in additional capital contributions from various countries this year, solidifying its position as a leading pan-African housing financier.
