Month: March 2020

The fund will go towards the delivery of large-scale affordable housing of 423 units with selling prices of $26,000

Dakar, Senegal – February 20, 2020: Shelter Afrique, the Pan African Organisation exclusively dealing with affordable housing in Africa has today signed an $11.6 million line of credit with Senegal’s Teyliom Group for the construction of affordable housing units in the West African state.

Speaking at the signing ceremony in Dakar, Senegal, Shelter Afrique Chief Executive Officer Andrew Chimphondah lauded the long and successful history the Company has had with Senegal and with Teyliom Group.

“We have remained committed to financing Real Estate projects that promote innovation and affordability since 1989 and we have so approved 25 projects for a total of $56 million in the country. Some of the notable projects we have funded in that time are Grand Mbao-Senegal (Phase 3) in March 2002 for FCFA 1 billion, the Espace Ouakam in November 2006 for FCFA 690 million and Al Azhar in March 2009 for FCFA 400 million,” Mr. Chiphondah said.

The deal with Teyliom Group is the first significant project Shelter Afrique has embarked on in Senegal since 2016 and is the second transaction the Company is making with the Teyliom Group.

“In in March 2008, Shelter Afrique extended a line of FCFA 1.92 billion. We are happy with this partnership with to Teyliom Group because it has proved to be reliable and trustworthy partner,” Mr. Chimphondah added.

Also speaking at the signing ceremony, Teyliom Group Chief Executive Mr Yigo Faly Thiam said the investment was timely as there is a growing housing demand in Senegal.

“Shelter Afrique is the kind of partner Teyliom Group needs to support out quest for the provision of affordable housing to Senegalese citizens. We are happy to work with them and other partners in providing housing for the growing housing market,” Mr. Thiam said.

When complete, the project is expected to deliver large- scale affordable housing of 3,439 units with selling prices starting at USD 26,000 for more than 20,000 individuals and create more than 3,000 jobs, with a sizable number of those being held by women.

The high-density estate has been designed to be comfortable, convenient & and dignified. It will have public parks, community buildings, shopping centres, health facilities and schools.

“The project is demonstrative of the guiding principles of Shelter Afrique over the last couple of years. Our 2019-2023 strategy promotes the development of large-scale housing units of nothing less than 1000 units, Teyliom Group project ticks that box,” Mr. Chimphondah said.

Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa. The company is owned by 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company.

About Teyliom Group

Teyliom is an African Group with strong presence in diversified sectors of activity in the West African region and Central Africa. Teyliom aims at becoming an investor of reference for the African continent. The Group is innovative and proactive in being a major actor in novel projects throughout Africa. Teyliom Holdings is the top management structure, and oversees the whole Group: Teyliom Properties, Teyliom Hospitality, Teyliom Energies, Teyliom Finance, Teyliom Industries, and Teyliom Telecom. As of 31 December 2013 the Group consists of 52 companies spread in 16 countries, in Africa and Europe with a total workforce of 629 employees.

For more information on Teyliom Group, please visit http://www.teyliom.com/groupe/?lang=en

Nairobi: February 11, 2020 – Pan African Housing Financier, Shelter Afrique has been conferred the Town and County Excellence Award by the Town and County Planners Association of Kenya (TCPAK).

The Award was in recognition of the Company’s contribution to the provision of affordable housing and reduction of slum dwelling in Kenya and across Africa.

Handing over the Award certificate to Shelter Afrique’s Chief Executive Officer Andrew Chimphondah, Town and County Planners Association of Kenya Chairman Mr. Mairura Omwenga lauded Shelter Afrique for its efforts to bring to the fore front the affordable housing agenda across Africa and the investments the company has made in its efforts to improve quality of housing in Africa.

“We are pleased to confer the Town and County Excellence Award to Shelter Afrique for its efforts towards making our towns better places to live. We hope this Award will encourage Shelter Afrique to do even more as it focuses its efforts towards meeting the needs of the continent’s rapidly growing population,” Mr. Omwenga said.

Receiving the Award, Shelter Afrique’s Chief Executive Officer Andrew Chimphondah said the Company recognizes the scourge of rapid urbanization, which has resulted into more slums, and as such has made the provision of affordable housing through strategic partnerships its key priority.

“We are humbled and we feel privileged to be conferred with this Award in recognition of work across Africa. We are encourage to continue focusing on our mandate of providing affordable homes in Afrique, which is in line with United Nation Sustainable Development Goals (SDG) No 11 which focuses on sustainable cities and communities,” Mr. Chimphondah said.

Shelter Afrique has a number of initiatives geared towards enhancing housing affordability across Africa. In Kenya, for instance, the Company has partnered with the government and the UN Habitat to develop a social housing scheme within Mavoko Municipality under the Kenya Slum Upgrading Programme (KENSUP) and is also supporting the Pan African slum eradication program in Uganda.

The Company has also invested in the mortgage refinance companies in Kenya, Nigeria, Tanzania and Togo. The Company has also signed memoranda of understanding with the governments of Liberia, Ivory Coast, and Central Africa Republic for the provision of affordable houses through public private partnerships structured by Shelter Afrique.

Town and County Planners Association of Kenya (TCPAK) is a corporate body comprising town, county, and country planners, urban and regional planners, physical planners. The Association promotes professional development, education, public awareness, sustainable development and the protection and conservation of the built and natural environment.

It is a member of International Society of City and Regional Planners (ISOCARP) – a global association of professional city and regional planners, and International Coalition for Sustainable Cities and Territories (ICOSCAT).