Shelter Afrique

Last updated

Shelter Afrique
Type Private
Industry Finance
Founded1982
HeadquartersLongonot Road, Upper Hill, Nairobi, Kenya
Key people
Kiiza Bichetero
(chairman)
Kinglsey Muwowo (Ag. Managing Director & CEO effective 17th February 2022) [1]
Products Project finance, institutional lending, equity investments, trade finance & social housing
RevenueIncrease2.svg US$1,325,766 (2020)
Owner44 African Governments
AfDB
Africa Re
African Solidarity Fund
Website www.shelterafrique.org

Shelter Afrique (SAf), also known as Company for Habitat and Housing in Africa, is a pan-African finance institution created to exclusively support the development of the African real estate and housing sector. Through its strategic partnerships, it offers products and related services which support the efficient delivery of commercial real estate and affordable housing.

Contents

Locations

The main offices of the organisation are located at Shelter Afrique Centre on Longonot Road, Upper Hill, in Nairobi, the capital of Kenya.

The organisation also has two regional offices: one in Abuja, Nigeria's capital city at 1129, Muhktar El-Yakub's Place, Central Business District; and another in Abidjan, Côte d’Ivoire, located at Riviera 3, Carrefour Mel Theodore, Boulevard Arsène Usher Assouan. [2]

History

Shelter Afrique was established by a Constituent Charter in 1982, [3] and incorporated in Kenya under the Shelter-Afrique Act, chapter 493C of the Laws of Kenya. Operations begun officially in 1985.

Overview

As of December 2020, Shelter Afrique being a supranational development financial institution had total assets valued at approximately US$174.61 million, and shareholders' equity of about US$133.66 million. [4] Besides using its own funds, SAf collaborates with other financial institutions which provide funding for onward lending in the real estate and housing arena within the continent. Partner funding sources include: (a) Netherlands Development Finance Company (b) French Development Agency (c) European Investment Bank and (d) Commercial Bank of Africa. [5] SAf also works in collaboration with several international organizations with similar objectives, namely: 1. International Union of Housing Finance (IUHF) 2. Centre for Affordable Housing Finance in Africa (CAHF) and 3. UN Habitat for A Better Urban Future (UN-Habitat). [6]

Membership

Shelter Afrique’s current shareholding comprises 44 member African countries  (‘Class A’ Shareholders) plus 3 institutions; the African Development Bank (AfDB), African Reinsurance Corporation (Africa-Re) and the African Solidarity Fund (FSA) [7] categorised as ‘Class B’ Shareholders. [8]

Shareholders

The organization has 44 member African countries and two African financial multinational institutions: [9]

Governance

Kiiza Bichetero, a national of Uganda, serves as the Chairman of the Board of Directors. [10] Kingsley Muwowo, the CFO, is the current Acting Managing Director, effective 17 February 2022. [11] The immediate former Managing Director was Andrew Chimphondah, a national of Zimbabwe. [12] In August 2022, Thierno Habib Hann was confirmed as head of Shelter Afrique (SHAF) to replace Zimbabwean Andrew Chimphondah sacked by the board..

Accreditations

ISO Certification

Shelter Afrique received ISO (International Organization for Standardization) 9001:2015 certification for Quality Management Systems from Bureau Veritas Certification Holding SAS (UK Branch), [13] accredited by United Kingdom Accreditation Service (UKAS) Management System.

This certification was issued in 2020, is valid for three years until 2023, and supports strengthening of the institution’s governance framework.

Bloomfield Rating

Shelter Afrique retained its Bloomfield Long Term Credit Rating at BBB+, which was issued in 2020.

See also

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References

  1. ↑ Mutegi, Mugambi. "Shelter Afrique Picks Ugandan As New MD". Business Africa Daily.
  2. ↑ "Shelter Afrique Office locations" . Retrieved 2 March 2022.
  3. ↑ Convention on the Constituent Charter of Shelter-Afrique: As Adopted at the Potential Shareholders' Meeting, Lusaka, 10-11 May 1982. Shelter-Afrique. 1982.
  4. ↑ "Shelter Afrique 40th Anniversary Integrated Annual Report 2020" (PDF). shelterafrique.org. Shelter Afrique. 31 December 2020. Retrieved 2 March 2022.
  5. ↑ Anyanzwa, James (22 June 2014). "Shelter Afrique Secures KSh1.7 Billion Housing Projects In Africa". The Standard (Kenya) . Retrieved 26 June 2014.
  6. ↑ "Shelter Afrique: History & Partners". Shelter Afrique. 2013. Retrieved 26 June 2014.
  7. ↑ "The African Solidarity Fund (ASF) becomes the 47th shareholder of Shelter-Afrique". Shelter Afrique. 17 August 2021.
  8. ↑ "Shelter Afrique's Membership". Shelter Afrique. Retrieved 2 March 2022.
  9. ↑ "Detailed Shareholding In Shelter Afrique (Part of 2013 Financial Report)". Shelter Afrique. 15 March 2014. Retrieved 26 June 2014.
  10. ↑ "Shelter Afrique sets record straight through Board statement" (PDF). Shelter Afrique. 4 January 2022. Retrieved 2 March 2022.
  11. ↑ "Shelter Afrique & Managing Director Andrew Chimphondah Part Ways". 18 February 2022.
  12. ↑ "Shelter Afrique CEO exits organisation during transition". www.shelterafrique.org/. Shelter Afrique. 22 February 2022. Retrieved 2 March 2022.
  13. ↑ "Shelter Afrique Receives ISO Certification". 4 March 2020. Retrieved 2 March 2022.
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