{"id":471504,"date":"2021-05-28T09:22:06","date_gmt":"2021-05-28T09:22:06","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=471504"},"modified":"2021-05-28T09:26:15","modified_gmt":"2021-05-28T09:26:15","slug":"kenya-to-hand-over-chairmanship-of-shelter-afriques-agm-bureau-to-cameroon","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/05\/28\/kenya-to-hand-over-chairmanship-of-shelter-afriques-agm-bureau-to-cameroon\/","title":{"rendered":"Kenya to hand over chairmanship of Shelter Afrique\u2019s AGM Bureau to Cameroon"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><ul>\n<li><em>Cameroon\u2019s Minister of Housing and Urban Development\u00a0Hon. C\u00e9lestine Ketcha Court\u00e8s to assume the <\/em><em>Chairmanship of the AGM Bureau during the Company\u2019s <\/em><em>40<sup>th<\/sup> AGM<\/em><em>. <\/em><\/li>\n<\/ul>\n<p>Kenya\u2019s Transport, Infrastructure and Housing Cabinet Secretary James Macharia who is the current Chairman of Shelter Afrique Annual General Meeting (AGM) Bureau will hand over the mantle to Cameroon\u2019s Minister of Housing and Urban Development Hon. Celestine Ketcha Courtes at the Company\u2019s 40<sup>th<\/sup> AGM and annual housing symposium scheduled to take place between 20<sup>th<\/sup> \u2013 26<sup>th<\/sup> June 2021 in Yaound\u00e9, Cameroon.<\/p>\n<p>Hon. Courtes was elected the 1<sup>st<\/sup> Vice-Chairperson of the AGM Bureau at the Company\u2019s 39<sup>th<\/sup> AGM held in Nairobi. \u00a0She will be deputised by Zimbabwe&#8217;s Minister of National Housing and Social Amenities Hon. Daniel Garwe.<\/p>\n<p>Chairing the General Assembly meeting held virtually from the Shelter Afrique Head Quarters in Nairobi, on the 26<sup>th<\/sup> May,2020, Hon. Macharia briefed the Ministers of Cameroon and Zimbabwe on the performance of the Company during his tenure. He thanked the shareholders, his fellow Ministers present from Cameroon and Zimbabwe, the Shelter Afrique Board Chairman, Dr Steve Mainda EBS, Chief Executive, Mr. Andrew Pandeka Chimphondah for their unrelenting support during his tenure.<\/p>\n<p>\u201cWhen I assumed the Chairmanship of Shelter Afrique AGM Bureau at the Company\u2019s 38<sup>th<\/sup> AGM in Morocco, no one had foreseen a pandemic of COVID-19 magnitude. Despite all the challenges we were able to adapt fast to the new\u00a0 \u00a0realities. I am happy to announce that the Company\u2019s performance surpassed our expectations. The Company turn around and posted a profit of US1.85million in 2020 inspite of the challenges of the pandemic. Shareholder contributions to Shelter Afrique doubled in support of the revived well governed institution. I am certain that the incoming leadership will enjoy similar goodwill from shareholders, the board of directors, management and staff,\u201d Hon. Macharia said.<\/p>\n<p>While thanking shareholders for endorsing her, Hon. \u00a0Court\u00e8s thanked Hon. Macharia for his effective leadership of AGM Bureau. She further assured him that the plans to host the best ever 40<sup>th<\/sup> AGM and 40<sup>th<\/sup> Anniversary for Shelter Afrique were at an advanced stage and that the beautiful hard working people of Cameroon were well prepared and eager to host the 44 Housing Ministers and 44 Finance Ministers that would be arriving in Yaound\u00e9, Cameroon from the 20<sup>th<\/sup> to the 25<sup>th<\/sup> June 2021.n;::<\/p>\n<p>\u201cWe are looking forward to hosting the Finance Ministers and Housing Ministers that will be present from the 44 member countries, Africa Development Bank, Africa-Re, global lenders from EIB, AFD, BOAD, KfW, NCBA, Ghana International Bank and other key stakeholders in the housing and financial sectors as we seek to collectively find pragmatic solutions to the housing crisis in Africa, more so during this post-COVID-19 era,\u201d Mrs. Courtes said.<\/p>\n<p>Appreciating Mr. Macharia for his great leadership and welcoming Mrs. Courtes as new Chairperson and Honorable Garwe as new Vice-Chairman, Shelter Afrique Chief Executive Officer Andrew Chimphondah promised that this year\u2019s AGM will go beyond the financials, not just because of the prevailing situations presented by a global pandemic but because the Company will also be marking its 40<sup>th<\/sup> Anniversary.<\/p>\n<p>\u201cIn most cultures, 40 is a significant milestone; milestones offer us an opportunity to congratulate ourselves and enjoy our accomplishments. More importantly, they are a moment for us to reflect and consider what happens next. That is why the theme for this year\u2019s AGM <em>is Four Decades of Affordable Housing Policies in Africa: Mapping the Next Forty Years<\/em>. Our 40<sup>th<\/sup> year will be one of retrospection. We believe as we navigate this new decade and the realities that this pandemic has thrown into sharp relief, there is a need to review Africa&#8217;s housing policy environment. Not merely to measure growth, successes and challenges but, more importantly, to forecast the next forty years to shape policy for our member-states and the way we approach low-cost large-scale delivery of housing in Africa,\u201d Mr. Chimphondah said.<\/p>\n<p>Mr Chimphondah also thanked the Bureau members for their stewardship during the pandemic, and noted that it had enabled the The Company to record its first profit in five years and successfully conclude a Debt Restructure Agreement with global lenders. This marked the effective turnaround The Company from previous woes.<\/p>\n<p>Noting the limitations presented by COVID-19 pandemic on travel and gatherings, Mr. Macharia said this year\u2019s AGM will be presented as a hybrid of in-person and virtual attendance.\u00a0 Shelter Afrique successfully held its first virtual AGM in 2020 in Nairobi, Kenya.<\/p>\n<p><strong>New Shareholders<\/strong><\/p>\n<p>Another item high on the agenda will be the onboarding of a new Class \u201cB\u201d shareholder and creating further opportunities of Class \u201cC\u201d shareholders for non-African institutions and private companies to invest in the Company as a means of strengthening the Company\u2019s capital structure.<\/p>\n<p>\u201cAlready, Fonds De Solidarite Africain (FSA) has expressed interest in joining Shelter Afrique as a shareholder under Class \u201cB\u201d cluster. At the 40<sup>th<\/sup> AGM, we will be seeking shareholders\u2019 approval, in which case it will become our 47<sup>th<\/sup> shareholder as we strive to onboard the remaining 10 African countries that are not yet members of our great pan-african development finance institution,\u201d Mr. Chimphondah said.<\/p>\n<p><strong>About Shelter Afrique<\/strong><\/p>\n<p>Shelter-Afrique is a pan African housing finance and development institution established by African governments to address the need for sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, and the African Re-Insurance Corporation. The company\u2019s mandate is to provide financing by way of debt, quasi-equity and equity to both public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate. These include project finance, institutional lending, equity investments &amp; joint ventures, trade finance, and social housing.<\/p>\n<p>We also offer practical advice and technical assistance to a wide range of industry stakeholders.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Cameroon\u2019s Minister of Housing and Urban Development\u00a0Hon. C\u00e9lestine Ketcha Court\u00e8s to assume the Chairmanship of the AGM Bureau during the Company\u2019s 40th AGM. Kenya\u2019s Transport, Infrastructure and Housing Cabinet Secretary James Macharia who is the current Chairman of Shelter Afrique Annual General Meeting (AGM) Bureau will hand over the mantle to Cameroon\u2019s Minister of Housing<\/p>\n","protected":false},"author":527180,"featured_media":471505,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12046,12065],"tags":[],"class_list":["post-471504","post","type-post","status-publish","format-aside","has-post-thumbnail","category-leaders-en","category-press-releases","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kenya to hand over chairmanship of Shelter Afrique\u2019s AGM Bureau to Cameroon - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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