Category: news-room

Dar-es-Salaam, Tanzania 2ndJuly 2012 – SHELTER AFRIQUE and the NATIONAL HOUSING CORPORATION (NHC) in Tanzania have signed a US$ 14.5 million loan agreement. This is the largest facility in SHELTER AFRIQUE history to a single a borrower and is marking our commitment to continue supporting initiatives of stakeholders in the housing sector to deliver affordable units to the lower and middle income segment which is often overlooked and underserved.

The facility is earmarked to support the NATIONAL HOUSING CORPORATION strategy envisaged to construct a minimum of 15,000 low and medium class houses for sale and rental by June 2015. The partnership between SHELTER AFRIQUE and the NATIONAL HOUSING CORPORATION is a win-win situation and is creating a high momentum for both institutions to realize delivery of housing to the Tanzanian people.

During the ceremony NHC also signed facilities with various local lenders of about 145 Billion Tanzania Shillings equivalent to US$ 85 million. The facilities from the local banks are for both construction of residential units and mortgage loans to off takers. Total loans signed amounted to 165 billion Tanzania Shillings equivalent to US$ 100 million. This is the largest syndication of loans ever to a real estate institution in Tanzania.

Various Speakers urged NHC to utilize the facilities to construct affordable housing to the low and middle income groups. Shelter Afrique Managing Director Alassane BA said” “We urge NHC to ensure that houses are affordable to low and middle-income earners; we want our entire loan to be directed in constructing affordable houses,”

Speaking during the signing ceremony in Dar es Salaam, the Minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka urged NHC to ensure the houses to be constructed would be affordable to low and middle-income earners.

The ceremony was graced by the Honorable Minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka, NHC Board Members, Tanzania Bankers Association and local banks such as CRDB Bank, National Microfinance Bank (NMB), Ecobank, Azania Bank as well as Banc ABC and Commercial Bank of Africa (CBA). Tanzania Investment Bank (TIB), a development bank and a pension fund, Local Authorities Pension Fund

Nairobi Kenya, 15th June, 2012– SHELTER AFRIQUE and OAKPARK ATHI RIVER LTD have signed a KES 376 million loan agreement. The funds are earmarked to co-finance the development of Pine City Phase 2 comprising 60 Nos. maisonettes and related infrastructure for outright sale to the public. The project is located in Athi River, Kenya. Oakpark Athi River Ltd was incorporated in 2009. The principal shareholders have a wealth of experience in real estate and have benefited from Shelter Afrique’s partnership in three other real estate developments.

Cotonou, Benin 24th May, 2012– – SHELTER-AFRIQUE signed a Memorandum of Understanding with the Government of the REPUBLIC OF BENIN on 24th May 2012 with a view to resolving the dispute opposing it to the GROUPE BETHSALEEM BUILDING (GBB).

The Head of State of Benin, Dr. Boni YAYI, received the Officials of SHELTER-AFRIQUE who were accompanied for the purpose by Minister Blaise Ahanhanzo GLELE and Lawyer Sadikou ALAO, Legal Counsel of SHELTER-AFRIQUE. On the agenda was the resumption of cooperation between BENIN and the Development Institution and settlement of the dispute with GBB. The Memorandum of Understanding was signed on behalf of the Government of BENIN by the Minister for Environment, Housing and Urban Development, Mr. Blaise Ahanhanzo GLELE and the Minister of Economic Planning and Finance, Mr. Jonas GBIAN, and on behalf of SHELTER-AFRIQUE by the Managing Director Mr Alassane BÂ. Mr. BÂ welcomed the commitments made by the State of Benin.

Nairobi,Kenya 13th April, 2012– SHELTER AFRIQUE and ELOLO SPRL signed a USD 4 million Facility Agreement to co-finance the development of a 10-storey building in Kinshasa, Democratic Republic of Congo (DRC). The total cost of the project is estimated at USD 7 million and the implementation will be completed by end of 2013. ELOLO SPRL is a limited company established 25 years ago and originally incorporated as “Etablissement ELOLO”. The main objective of the company is to carry out construction projects, wholesale trade and import-export business.

The Government of Kenya hosted the fourth African Ministerial Conference on Housing and Urban Development (AMCHUD 4) in the city of Nairobi from 20 to 23 March 2012 at the KICC, under the theme “Territorial Planning and Access to Basic Services for all and Implications of Climate Change Issues in Africa.”

The Conference brought together participants comprising of Ministers in charge of housing and their delegations from all over the continent as well as those from partner institutions.

The participants tackled a number of issues with the objective of finding common solutions for positive change.

Shelter-Afrique used this opportunity to co-host, together with UN Habitat, a Cocktail at the Intercontinental Hotel, in honor of the delegates who were attending the Conference.

The cocktail was attended by high ranking Government officials led by Kenya Minister for Housing Mr. Soita Shitanda.

In his speech, the Managing Director of Shelter-Afrique Mr. Alassane Bâ emphasized that in order to succeed in improving the quality of lives of the future generations in Africa; governments will have to work in partnership. The stakeholders involved must mobilise additional resources and continue strengthening and enhancing the capacity of housing finance institutions like Shelter Afrique and others that seek to promote housing in the continent.

Shelter-Afrique remains fully committed to working relentlessly in building internal capacity as well as for other housing finance institutions within the Member Countries secure the right resources and form key partnerships to support the African housing sector and the challenges of rapid urbanisation.

Nairobi, February 23rd, 2012- SHELTER-AFRIQUE held a Business Cocktail on 23rd February 2012 at the Intercontinental Hotel in Nairobi to sensitize stakeholders in housing delivery on its products and services and its interest in expanding its activities in the Kenyan market. The event was well attended by government officials, developers, contractors, consultants, financiers, cooperatives and service providers

With the recently raised Kshs. 2.5 Billion from the local capital market SHELTER-AFRIQUE intends to deepen its partnerships with property developers and provide funding for their pipeline projects at a competitive base rate of 13% p.a. The target market for the funds will be the middle income segment where effective demand for housing is insatiable.

Despite the challenges faced by the financial sector in 2012, the Nairobi based Pan Africa Housing Development Finance Institution is optimistic and intent on investing in real estate developments during the year with an objective of reducing the housing supply gap, generating employment and subsequently contributing to the growth of the

Nairobi Kenya, 17th February, 2012– SHELTER AFRIQUE and SIEMA SARL have signed a USD 2.6 millionFacility Agreement to co-finance the development of 17 Nos. villas and related infrastructure for outright sale to the public in Fort-Dauphin, Madagascar. The total cost of the project is estimated at USD 4.3 million and the implementation is underway.

SIEMA is a limited liability company incorporated in March 2003 in Antananarivo. The real estate company is specialized in architecture works, including urban planning as well as all types of construction and civil works.

ACCRA, Ghana 18th January 2012. – Shelter Afrique, a Nairobi based pan-African housing finance company and Ghana Home Loans signed a $5 million Facility Agreement to support Ghana Home Loans’ mortgage lending operations in Ghana.

Shelter Afrique, majority owned by the African Development Bank, uses its distinct presence and competitive advantage to create value added products to enhance the development of the real estate sector with a view to improving the living environment and facilitating the achievement of the goal of housing for all.

Ghana Home Loans, is the market leader in mortgages and the only specialist home finance company in Ghana. Established in 2006 by three Ghanaian promoters and a team of world class financial institutions, the company has already provided financing of over $70m for the acquisition, construction and improvement of homes across Ghana.

“Supporting the development of a vibrant real estate sector in Ghana is a key priority of Shelter Afrique. This facility marks our introduction into the industry and we look forward to working with all its participants to address the acute housing shortage in Ghana” said Mr. Alassane Bá Managing Director of Shelter Afrique. “In Ghana Home Loans we found a natural partner in Ghana.”
Commenting on the transaction, the CEO of Ghana Home Loans, Mr. Dominic Adu, said he is excited by this pioneering facility from Shelter Afrique. “Ghana Home Loans is very passionate about our ambition to make the dream of the average Ghanaian to own their home a reality. In pursuit of this ambition we have already marshaled over $100m of long term funding from world class institutions to invest in the Ghana housing sector.

The loan from Shelter Afrique, which makes Ghana Home Loans the first Ghanaian institution to benefit from their facilities, is particularly welcoming because it has expanded our universe of funding partners and underlines our thought leadership of the industry. We, at Ghana Home Loans, look forward to an excellent relationship with Shelter Afrique.

TDC a Thailand based company and known as a group of professionals and experts in the Prefabrication technology system for Mass Housing Projects and Shelter Afrique have on January 2012 signed a Memorandum Of Understanding (MOU) allowing the two Parties to co-operate in the preparation and coordination of the Mass Housing Projects.