ShafPress

The treaty grants the pan-African housing development financier vital diplomatic privileges and concessions to support the delivery of low-cost houses in Togo

Nairobi, Kenya: May 26th 2021: Shelter Afrique has signed a protocol agreement with the Government of Togo aimed at consolidating the diplomatic relations between the latter and the pan-African housing development financier.

The protocol was signed in Nairobi by Shelter Afrique Group Managing Director and CEO Andrew Chimphondah and the Togolese Ambassador to Africa Union & United Nations Economic Commission Mr. Batengue Bankotina.
Speaking at the signing ceremony, Mr. Chimphondah said Shelter Afrique was positioned uniquely as the only development finance institution charged with the provision of low-cost large-scale housing on the African continent.

“Togo has provided the much-needed enabling environment necessary for the delivery of large-scale low-cost housing through viable public private partnerships. We have signed these agreements in Kenya, Nigeria and Ivory Coast as Host countries for our offices. We will be securing similar agreements with all our remaining 40 member-countries that are yet to sign similar agreements. The privileges enshrined in the protocol agreements are critical to that.

The agreement we have signed with the government of Togo guarantees us tax-concessions that lower the cost of housing, freedom of movement, recognition of our travel documents, exemptions from stamp duty and other diplomatic privileges enshrined in the Vienna Convention of Diplomatic Relations of 1961.

Togo’s commitment to this agreement signals that the country not only welcomes Shelter Afrique to do business in Togo, but that the Togolese government supports our mandate and vision to deliver decent and affordable homes to all Africans,” Mr. Chimphondah said.

On his part, Amb. Bankotina lauded the strengthening cooperation between the Government of Togo and Shelter Afrique, noting that the signing of protocol was a critical step in affording Shelter Afrique the flexibility it needs to undertake key projects in Togo.

“The protocol agreement we’ve signed with Shelter Afrique opens a new phase of partnership and is crucial in achieving our 2025 housing goal with the full support from Shelter Afrique,” Amb. Bankotina said.

Affordable housing
Early March, Shelter Afrique signed a Memorandum of Understanding (MOU) with the government of Togo with the Minister of City Planning, Housing and Land Reform Koffi Tsolenyanu. to co-develop 3,000 low-cost housing units in the Togo’s Capital, Lomé.

“This means that Shelter Afrique team will be having increased engagements in Togo going forward thus the need for such a treaty to be put in place to facilitate the team’s work and movement,” Mr. Chimphondah explained.
Togo has fully paid it capital subscription obligation to Shelter Afrique, signifying its commitment to strengthen the Company’s capital base.

Mr. Chimphondah said Shelter Afrique is currently exploring an opportunity for USD10 million in additional capital for Togo to secure a permanent seat on Shelter Afrique’s Board and has invited Togo to host the 42nd Annual General meeting in 2023.

Nairobi: 10 May 2021 – Pan-African housing development financier Shelter Afrique has signed a Memorandum of Understanding (MOU) with Juba-based real estate firm, Triangle Real Estate to develop 26,000 housing units for South Sudan Defense Forces at an estimated cost of USD1.5bn through a public-private-partnership special purpose vehicle.

The MOU was signed in Nairobi by Shelter Afrique Chief Executive Officer Andrew Chimphondah and Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, on behalf of the Ministry of Finance and Planning for the Government of South Sudan.

“We have been mandated by the Ministry of Finance and Planning to source for funds for the construction and completion of a defense housing project on behalf of the Government of South Sudan under the Peace Through Development programme initiated by President Salvar Kiir in 2018,” Amb. Kuol said.

Amb. Kuol noted that the signing of the MOU was critical in addressing the housing crisis in South Sudan, which has been exacerbated by many years of conflicts.

“The housing crisis in South Sudan is dire. In fact, we are starting from the scratch – the reason this memorandum of understanding we’ve signed with Shelter Afrique is very important for us and is proof that provision of affordable housing is central to the agenda of the government of the South Sudan, not just for the Forces but for the entire population,” said Amb. Kuol.

Mr. Chimphondah said the signing of the MOU with Triangle Real Estate highlights Shelter Afrique’s catalytic role in the provision of affordable housing finance across Africa.

“Our vision is to provide affordable housing for all Africans – including South Sudan. We are proud to be part of this partnership and we look forward to being the pre-eminent provider of financial, advisory and research solutions geared towards solving the housing crisis in South Sudan which has a shortage of 4 million units,” Mr. Chimphondah said.

The Project scope includes development of 148 housing blocks of 160 housing units each at New Site, Qiada Junubiya, J-3 Presidential Guards Apartments, and at New Bonga.

Under the agreement Triangle Real Estate will act as the developer and contractor of the project in conjunction with various consultants. Shelter Afrique, on the other hand, will provide catalytic funding as well as act as the lead arranger to assist in raising additional financing through the syndication of other Developmental Financial Institutions as applicable.

Shareholding

Amb. Kuol also noted that the government of South Sudan was keen on becoming a shareholder of Shelter Afrique and was actively sourcing the budget for the capital subscription fees.

“In addition to sourcing for finance for the Defense Forces housing project, the government of South Sudan has also mandated Triangle Real Estate and a financial advisor – Benchmark Solutions to source for funds to this effect and we are currently in talks with some potential financiers. We believe that South Sudan should become a member of Shelter Afrique in 2021 when approved at the AGM that will be held on the 24^th June 2021,” Amb Kuol said.