Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Shelter Afrique boss Allassane Ba/ FILE

Kenya

Ghana becomes 43rd member state of Shelter Afrique

Shelter Afrique boss Allassane Ba/ FILE

NAIROBI, Kenya, Nov 8 – Ghana has become the 43rd State Member of Shelter Afrique following a cash payment of Sh967 million for a stake as a Class “A” shareholder in the housing development financier.

This achievement underlies the objective of the institution to ensure participation by all African countries in Shelter Afrique.

Shelter Afrique will now work closely with the government and the private sector in Ghana to improve the provision of mortgage finance to public and private developers with particular emphasis on the housing needs of the middle class.

Speaking about the decision to join Shelter Afrique; Finance and Economic Planning Minister for Ghana, Dr Kwabena Duffour stated “Ghana is committed to improving the supply of affordable houses for its population.”

Ghana is estimated to have a housing deficit in excess of 1.5 million houses.

Shelter Afrique’s Managing Director Alassane Ba further pointed out that “Ghana is joining Shelter Afrique at an exciting time when the priorities of Africa are focused towards the housing needs of the growing population of the continent.”

He reiterated the institution’s commitment to work closely with all stakeholders to proactively implement the agenda to provide decent housing especially for the middle class.

“We (Shelter Afrique) are working to strengthen strategic relationships with key players in the mortgage industry in order to improve the financing of the sector and will continue to seek out partnerships and new member countries,” said Ba.

Shelter Afrique is a Pan African financial institution dedicated to financing housing and related infrastructure in Africa.

The organisation was set up in 1982 with its headquarters in Nairobi.

Advertisement. Scroll to continue reading.

Its membership comprises 43 African countries, the African Development Bank and Africa-Re.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Headlines

NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...