• Contact
Sunday, February 5, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Trending Tags

  • Business
    Shell oil tanker questioned over payment of losses and damages

    Shell oil tanker questioned over payment of losses and damages

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

  • Finance
    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Trending Tags

  • Business
    Shell oil tanker questioned over payment of losses and damages

    Shell oil tanker questioned over payment of losses and damages

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

  • Finance
    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Finance

Nigeria pays $7.15 million for additional stake in Shelter Afrique

TAB by TAB
17/06/2022
in Finance
0
Nigeria pays $7.15 million for additional stake in Shelter Afrique
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Nigeria pays $7.15 million for additional stake in Shelter Afrique

Pan-Africa housing development financier, Shelter Afrique has received $7.15 million in additional capital subscription from the Federal Government of Nigeria.

Related posts

Digital banking revolution can help SA banks regain their customers’ love, says BCG

Digital banking revolution can help SA banks regain their customers’ love, says BCG

02/02/2023
3
Nigeria launches payments card program to rival Visa and Mastercard

Nigeria launches payments card program to rival Visa and Mastercard

30/01/2023
1

The Additional stake now takes Nigeria’s shareholding to 15.8%, one-percentage point behind top shareholder Kenya, which currently stands at 16.85%.

The other top three shareholders of Shelter Afrique whose shareholdings now change include African Development Bank (AfDB), which now stands at 12.16% down from 12.71 %; Mali at 5.3% down from 5.54%; and Ghana at 5.05% down from 5.28%.

Lauding the government of Nigeria for its show of confidence in the institution, Shelter Afrique Ag. Managing Director & Chief Finance Officer Kingsley Muwowo said the move now places Nigeria in a good position to become the largest shareholder in Shelter-Afrique when the country fully meets its capital commitment.

“We are grateful to the government of Nigerian for their continued support and the importance they have placed on affordable housing. We are especially grateful to the Honourable Minister for Works and Housing Babatunde Fashola, Honorable Minister for State, Engineer Abubakar Aliyu, and Honorable Minister for Finance Dr. Zainab Shamsuna Ahmed, for their long term support and for honouring this significant payment. Additionally, we appreciate Nigeria’s active shareholder and board participation,” Mr. Muwowo said.

The relationship between Nigeria and Shelter Afrique has been growing in recent years. In September 2020, the institution received US$9.4 million additional capital subscription from Nigeria.

Fund-raising efforts

Other countries that have so far ramped up capital subscription in the Pan-African housing development financier in 2022 are Swaziland and Burkina Faso which paid USD317,854.54 and USD34,610.00 respectively, for additional stakes.

“So far, we have received $7,504,295.45 in additional capital from member States within the last six months of 2022.  We are grateful to our shareholders for this much needed capital injection which will go a long way in strengthening the capital structure of the Company to support the ongoing fund-raising efforts to raise additional debt capital required to support project pipeline which now stands at US$1 billion across 44 member countries,” Mr. Muwowo said.

Shelter Afrique recently completed a debut ₦46 billion (US$110.7 million) Series 1 Fixed Rate Senior Unsecured Bond Issuance in Nigeria’s capital market under its ₦200 billion (US$481.3 million) bond issuance programme for housing and urban development in Nigeria.

The Company plans similar bond issuance in East African markets including Kenya, Uganda, Tanzania and Rwanda.

Nigeria pays $7.15 million for additional stake in Shelter Afrique

Source: African Business Communities
Previous Post

Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

Next Post

IFC and Sodigaz deepen partnership to bring cleaner energy solutions to Burkina Faso

Next Post
IFC and Sodigaz deepen partnership to bring cleaner energy solutions to Burkina Faso

IFC and Sodigaz deepen partnership to bring cleaner energy solutions to Burkina Faso

RECOMMENDED NEWS

MTN South Africa’s major jobs drive aims to unlock the power of connectivity

MTN South Africa’s major jobs drive aims to unlock the power of connectivity

12 months ago
2
Cape Town hospital uses robot at forefront of surgery in Africa

Cape Town hospital uses robot at forefront of surgery in Africa

6 months ago
2
Bank of Russia resumes gold buying after two-year pause

Bank of Russia resumes gold buying after two-year pause

11 months ago
3
SA economy to grow less than 5% in 2021, Bloomberg survey

SA economy to grow less than 5% in 2021, Bloomberg survey

1 year ago
6

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business – News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • Zanzibar’s president is looking to make horticulture a significant part of his country’s economy
  • Shell oil tanker questioned over payment of losses and damages
  • Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In