Shelter-Afrique, the Pan-African institution of housing finance and urban development, has obtained the permission of CREPMF (Regional Council for Public Savings and Financial Markets) November 4, 2013, to issue bonds with a total value of 10 billion FCFA. The bonds will be listed on the Regional Stock Exchange (BRVM), like the previous 4 emissions.
The funds raised through the issue will be used to finance housing projects in member countries of the Economic and Monetary Union (UEMOA). Overall the issue will finance the construction of 152 housing units planned in Togo 115 units in Côte d’Ivoire, land plots of 1810 and the construction of 586 social housing units in Senegal, and the construction of 299 villas in Cote d’Ivoire. Moreover, it is expected that the resources mobilized from the bond issue will generate the helping hand as required for the development of affordable housing in the region. Alassane BA, Director of Shelter Afrique, said that “this authorization is in line with previous interventions Shelter Afrique on African financial markets as recurring issuer. Shelter-Afrique is always looking to raise funds from the capital markets to finance affordable housing. ”
In September 2013, Shelter Afrique issued bonds Kshs 5 billion ($ 58 million) through the Securities Exchange Nairobi to finance local currency loans for projects of housing in Kenya. The bond medium term Kshs 5 billion was oversubscribed to the tune of 43%, which demonstrates the considerable trust that the largest financial market in East Africa and local investors have shown in Pan institution housing finance and urban development. The business model of Shelter Afrique is largely based on the removal of funds in local currency on regional financial markets to finance affordable housing projects. Bonds in the amount of 5 billion Kshs ($ 58 million) are listed on the Stock Exchange of Nairobi and negotiations related thereto began on Thursday, October 24, 2013.
The Pan-African institution of housing finance and urban development, is now recognized as one of the most dynamic bond issuers on African and regional financial markets.Funds raised on the financial markets have been used to finance the growing demand and the huge untapped potential in the African real estate market, which has been severely handicapped by the lack of adequate funding at affordable prices.
Shelter-Afrique is a pan-African financing institution that is dedicated to helping the development of social housing across Africa. Interventions of the institution have a direct and positive impact on the lives of African people, meeting the needs of urban populations growing rapidly, and improving the living conditions of those companies.In addition, Shelter-Afrique is the vanguard institution for financing the promotion of social housing in the continent.She believes that building homes, it also develops families and nations. This is precisely its commitment to the African people.
Shelter-Afrique is supported by 44 member countries classified in Class A shareholders, and the African Development Bank (AfDB) and the African Reinsurance Corporation (AFRICA-RE) that are classified as shareholders of the class B. The institution works for 31 years and during this period it has mobilized more than U.S. $ 500 million and completed 300 housing projects in member countries. During this period, the cumulative value of loan approvals increased to 600 million U.S. $.