{"id":2948,"date":"2022-11-14T08:30:12","date_gmt":"2022-11-14T08:30:12","guid":{"rendered":"https:\/\/www.content.shelterafrique.org\/en\/?p=2948"},"modified":"2022-11-14T08:34:23","modified_gmt":"2022-11-14T08:34:23","slug":"shelter-afrique-approves-additional-usd13-million-credit-line-to-mixta-africa","status":"publish","type":"post","link":"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-additional-usd13-million-credit-line-to-mixta-africa\/","title":{"rendered":"Shelter Afrique approves additional USD13 Million credit line to Mixta Africa"},"content":{"rendered":"

Shelter Afrique approves additional USD13 Million credit line to Mixta Africa<\/strong><\/p>\n

– The facility will be used to finance the Group\u2019s real estate projects in C\u00f4te d’Ivoire Senegal and Morocco<\/p>\n

Nairobi: November 14, 2022:<\/strong>\u00a0 Pan-African housing development financier Shelter Afrique has approved USD13 million line of credit to Lagos-based real estate firm, Mixta Real Estate PLC.<\/p>\n

The\u00a05-year facility with a moratorium of\u00a024\u00a0months has been structured to fund the Group\u2019s current real estate projects in C\u00f4te d’Ivoire, Senegal and Morocco.<\/p>\n

The USD13 million loan will co-finance the construction of 356 housing units in C\u00f4te d’Ivoire, 162 units in Senegal, and 371 units in Morocco, with selling prices varying from USD 26,000 in Morocco, USD 45,000 in Ivory Coast, and between USD36,000 and USD52,000 in Senegal.<\/p>\n

Speaking in Nairobi at a signing ceremony, Shelter Afrique Ag. Managing Director Kingsley Muwowo lauded the strong and long term relationship between the two institutions, adding that, \u201cIn Mixta Africa, Shelter Afrique has a reliable partner that shares a common goal of developing affordable housing across Africa.\u201d<\/p>\n

\u201cWe have therefore structured both the Naira and Dollar denominated credit facilities to support their real estate projects. The Naira loans which is supported by the First series of the \u20a6500 billion bond which raised \u20a646 billion, will support Mixta Africa\u2019s projects in Nigeria to guards against forex risks. The Dollar ticket, which is from our own capital resources, will support Mixta\u2019s projects in Morocco, Senegal and C\u00f4te d’Ivoire,\u201d Mr. Muwowo said.<\/p>\n

Expanded options <\/strong><\/p>\n

Lauding the long term partnership between Mixta Africa and Shelter Afrique, Mixta Africa Executive Director and Chief Financial Officer Mr. Benson Ajayi commended Shelter Afrique for expanding financing option for the real estate sector, adding the strategy deployed by Shelter Afrique to raise fund for housing projects from regional local currency bonds was laudable.\u00a0<\/p>\n

\u201cWe have been looking for such kind of strategy from DFI\u2019s who purport to support us. That Shelter Afrique has been able to do this is really big for us and is what makes this transaction important and successful for us. If shelter Afrique came to us with a Dollar proposition, we would have said no, as our past Dollars transaction had its own share of forex challenges. We are, however, confident that the dollar-denominated facility being extended to us by shelter Afrique to finance projects in Morocco, Senegal and C\u00f4te d’Ivoire will not suffer much forex shocks,\u201d Mr. Ajayi said.<\/p>\n

More than $50m disbursed<\/strong><\/p>\n

Mr. Muwowo disclosed that out of the USD110 million (\u20a646 billion) realized from the Naira denominated bond debut in April, more than USD50 million had already been disbursed to finance projects in Nigeria.\u00a0<\/p>\n

\u201cTwo months ago, we approved USD19.5 million (\u20a68 billion) loan to Mixta Africa to support its affordable housing projects in Nigeria.\u00a0 Last week, we also approved USD24.03 million (\u20a610 billion) commercial loan to Landmark Africa to partly finance the construction of mixed-use housing project, Landmark Waterview Apartments and also help the company refinance existing debt. We expect a healthy project pipeline in Nigeria as demand continue to grow,\u201d Mr. Muwowo said.<\/p>\n

Mixta Africa is a Pan-African real estate development company headquartered in Lagos, Nigeria. It was established in 2005 and since then, has successfully executed many impactful projects. The company is currently present in 8 countries across Africa with full operations in Nigeria, Senegal, C\u00f4te d\u2019Ivoire, Morocco, and Tunisia, but with projects in Algeria, Egypt, and Mauritania.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shelter Afrique approves additional USD13 Million credit line to Mixta Africa – The facility will be used to finance the Group\u2019s real estate projects in C\u00f4te d’Ivoire Senegal and Morocco Nairobi: November 14, 2022:\u00a0 Pan-African housing development financier Shelter Afrique has approved USD13 million line of credit to Lagos-based real estate firm, Mixta Real Estate … <\/p>\n

Continue reading “Shelter Afrique approves additional USD13 Million credit line to Mixta Africa”<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":2154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4,321],"tags":[],"yoast_head":"\nShelter Afrique approves additional USD13 Million credit line to Mixta Africa - 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 approves additional USD13 Million credit line to Mixta Africa - ShafPress\" \/>\n<meta property=\"og:description\" content=\"Shelter Afrique approves additional USD13 Million credit line to Mixta Africa – The facility will be used to finance the Group\u2019s real estate projects in C\u00f4te d’Ivoire Senegal and Morocco Nairobi: November 14, 2022:\u00a0 Pan-African housing development financier Shelter Afrique has approved USD13 million line of credit to Lagos-based real estate firm, Mixta Real Estate … Continue reading "Shelter Afrique approves additional USD13 Million credit line to Mixta Africa"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-additional-usd13-million-credit-line-to-mixta-africa\/\" \/>\n<meta property=\"og:site_name\" content=\"ShafPress\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-14T08:30:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-14T08:34:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.content.shelterafrique.org\/en\/wp-content\/uploads\/2021\/06\/Shelter-Afrique-extends-US9m-housing-loan-to-Wema-Bank-Plc-as-it-completes-plans-for-Local-Currency-Bond.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1366\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Franc Kabu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Franc Kabu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-additional-usd13-million-credit-line-to-mixta-africa\/\",\"url\":\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-additional-usd13-million-credit-line-to-mixta-africa\/\",\"name\":\"Shelter Afrique approves additional USD13 Million credit line to Mixta Africa - 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