{"id":2228,"date":"2021-08-24T03:06:05","date_gmt":"2021-08-24T03:06:05","guid":{"rendered":"https:\/\/www.content.shelterafrique.org\/en\/?p=2228"},"modified":"2021-08-24T06:27:35","modified_gmt":"2021-08-24T06:27:35","slug":"shelter-afrique-receives-usd2-7m-capital-boost-from-tanzania","status":"publish","type":"post","link":"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-receives-usd2-7m-capital-boost-from-tanzania\/","title":{"rendered":"Shelter Afrique receives USD2.7m capital boost from Tanzania"},"content":{"rendered":"<p><strong>Nairobi:\u00a0 04 August 2021-<\/strong> The Government of Tanzania has increased its stake in Shelter Afrique after paying USD2.7 million in additional capital, the pan-African housing development financier has disclosed.<\/p>\n<p>The Additional stake now takes Tanzania\u2019s shareholding to 1.54% up from 0.3% held previously.<\/p>\n<p>Effectively, the contribution now reduces ownership of the top three shareholders with Kenya\u2019s, Nigeria\u2019s and African Development Bank\u2019s shareholdings now standing at 17.78%, 13.27% and 12.83%, respectively.<\/p>\n<p>Thanking the Government of the United Republic of Tanzania, Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah said it was gratifying so see the unwavering support renewed confidence by shareholders. \u00a0<\/p>\n<p>\u201cWe thank the government of Tanzania for choosing to increase her stake in Shelter Afrique despite the prevailing condition, and in particular the Ministers for Housing and finance Honourable William Lukuvi and Honourable Mwigulu Nchemba for making the disbursements &#8211; It\u2019s a vote of confidence in the Company. \u00a0We are also grateful to other shareholders who have increased their stakes recently,\u201d Mr. Chimphondah said.<\/p>\n<p>In addition to the Tanzania\u2019s contribution the Company has also received additional capital contributions from Kenya (USD 9.92m), Cameroon (USD 3,529,801.29) Mali (USD 2,062,994), Rwanda (USD 1.1m), Uganda (USD 0.08m), Togo (USD 0.58m), Swaziland (USD 0.32m), Ivory Coast (USD 0.57m), and Democratic Republic of Congo (USD 0.5m), bringing the total additional capital receipts to $20.69m within the last six months of 2021.<\/p>\n<p>\u201cWe also wish to thank several other shareholders such as Namibia, Zimbabwe Morocco, and Swaziland, Cameroon, Kenya, DRC, Mali, Ivory Coast, Uganda, Rwanda and Togo for their positive response to the call for recapitalization, this continues to show confidence in the strategy of The Company\u201d Mr. Chimphondah said.<\/p>\n<p>Shelter Afrique approved financing in excess of USD 52,246,000 in Tanzania.\u00a0The Company invested\u00a0equity into the Tanzania Mortgage Refinance Company (TMRC) in 2014 and has remained an active member.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nairobi:\u00a0 04 August 2021- The Government of Tanzania has increased its stake in Shelter Afrique after paying USD2.7 million in additional capital, the pan-African housing development financier has disclosed. The Additional stake now takes Tanzania\u2019s shareholding to 1.54% up from 0.3% held previously. Effectively, the contribution now reduces ownership of the top three shareholders with &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-receives-usd2-7m-capital-boost-from-tanzania\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Shelter Afrique receives USD2.7m capital boost from Tanzania&#8221;<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":2237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4,307],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shelter Afrique receives USD2.7m capital boost from Tanzania - ShafPress<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shelter Afrique receives USD2.7m capital boost from Tanzania - ShafPress\" \/>\n<meta property=\"og:description\" content=\"Nairobi:\u00a0 04 August 2021- The Government of Tanzania has increased its stake in Shelter Afrique after paying USD2.7 million in additional capital, the pan-African housing development financier has disclosed. The Additional stake now takes Tanzania\u2019s shareholding to 1.54% up from 0.3% held previously. 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