{"id":473123,"date":"2021-07-29T12:27:25","date_gmt":"2021-07-29T12:27:25","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=473123"},"modified":"2021-07-29T12:27:25","modified_gmt":"2021-07-29T12:27:25","slug":"cameroon-increases-its-stake-in-shelter-afrique-with-payment-of-usd-3-5m","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/07\/29\/cameroon-increases-its-stake-in-shelter-afrique-with-payment-of-usd-3-5m\/","title":{"rendered":"Cameroon increases its stake in Shelter Afrique with payment of USD 3.5M"},"content":{"rendered":"
<\/div>

Shelter Afrique has received USD 3,529,801.29 from the Government of Cameroon in additional capital subscription increasing its shareholding by 2% from the current shareholding of 3.61% to the revised shareholding of 5.24%.<\/p>\n

Cameroon, which recently acceded to the helm of the Institution at the recently concluded 40th Annual General meeting has indeed demonstrated true leadership and commitment to strengthening of Shelter Afrique\u2019s capital base. The Cameroon Minister for Housing and Urban Development, Her Excellency Madame Celestine Ketcha Courtes was newly appointed as President of the Shelter Afrique General Assembly at the Shelter Afrique AGM which was held in Yaound\u00e9, Cameroon on the 24th June 2021.<\/p>\n

In expressing gratitude to the Government of the Republic of Cameroon, The Group Managing Director and Chief Executive Officer commented after receiving the capital funding as follows:
\n\u201cWe are grateful for the unwavering support of the President of the AGM Bureau, Her Excellency Madame Celestine Ketcha Courtes and for the instrumental role she played in ensuring this capital commitment is honoured. We are confident that Shelter Afrique will benefit immensely form her leadership as the President of the 40th Annual General Meeting,\u201d\u00a0Mr\u00a0Chimphondah said.<\/p>\n

Capital Calls
\nIn 2013 and 2017 Shelter Afrique shareholders signed up to recapitalize the Company by way of additional equity subscriptions and has since received a total of USD $96 million dollars from various shareholders.<\/p>\n

\u201cEven with the COVID-19 pandemic, Cameroon has shown willingness to sustain its support for Shelter Afrique. This is a demonstrable strong vote of confidence by Cameroon in Board and Management the Company. This capital injection will go a long way in supporting the Company\u2019s ambitious plans to drive substantial capital investment into the low-cost housing sector,\u201d Mr. Chimphondah said.<\/p>\n

\u201cWe also wish to thank several other shareholders such as Kenya, Nigeria, Mali, Namibia, Rwanda Uganda, Togo, Zimbabwe Morocco, Lesotho, and Swaziland for their positive response to the call for recapitalization\u201d the Group Managing Director and Chief Executive said.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Shelter Afrique has received USD 3,529,801.29 from the Government of Cameroon in additional capital subscription increasing its shareholding by 2% from the current shareholding of 3.61% to the revised shareholding of 5.24%. Cameroon, which recently acceded to the helm of the Institution at the recently concluded 40th Annual General meeting has indeed demonstrated true leadership<\/p>\n","protected":false},"author":527180,"featured_media":473127,"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":[11996,12040,12046],"tags":[12599,1914],"class_list":{"0":"post-473123","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-finance-en","8":"category-international-institutions","9":"category-leaders-en","10":"tag-cameroon-en","11":"tag-shelter-afrique","12":"post_format-post-format-aside","13":"pmpro-has-access"},"yoast_head":"\nCameroon increases its stake in Shelter Afrique with payment of USD 3.5M - 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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