Speaking in Dar es Salaam last week, Shelter Afrique’s Managing Director and CEO, Andrew Chimphondah said his delegation met with Minister of Lands, Housing and Human Settlements, William Lukuvi and his officials where discussions were held on the provision of the land.
“The minister committed to the provision of 50 acres of land in Dar-es-Salam where an annual event showcasing the improvements and breakthroughs in the building sciences can be exhibited,” Chimphondah said.
He said the housing development financier will be developing the concept and will explore the possibility of hosting the first event in 2022. In August of 2021, Shelter Afrique through its centre of excellence held a masterclass session for government officials in Zanzibar to deepen capacity within the industry.
“Similar conversations are being held to hold another one in Dodoma as well before the end of the year,” he added while commending Lukuvi and Finance Minister, Mwigulu Nchemba for facilitating payment of U$2.7m being capital boost from Tanzania to boost housing innovation at the regional developer. The payment takes Tanzania’s shareholding from 0.3 to 1.54 percent.
Effectively, the contribution now reduces ownership of the top three shareholders with Kenya’s, Nigeria’s and African Development Bank’s shareholdings now standing at 17.78 percent, 13.27 percent and 12.83 percent respectively.
Chimphondah also thanked the government for the payment saying his management is happy with the confidence being shown by shareholders following years of bad results blamed on mismanagement.
“We thank the government of Tanzania for choosing to increase its stake in Shelter Afrique despite the prevailing condition, and in particular the Ministers for Housing and Finance William Lukuvi and Mwigulu Nchemba for making the disbursements - It’s a vote of confidence in the company,” he added.
In addition to the Tanzania’s contribution the Company has also received additional capital contributions from Kenya (USD 9.92m), Cameroon (USD 3,529,801.29) Mali (USD 2,062,994), Rwanda (USD 1.1m), Uganda (USD 0.08m), Togo (USD 0.58m), Swaziland (USD 0.32m), Ivory Coast (USD 0.57m), and Democratic Republic of Congo (USD 0.5m), bringing the total additional capital receipts to $20.69m within the last six months of 2021.
“We also wish to thank several other shareholders such as Namibia, Zimbabwe Morocco, and Swaziland, Cameroon, Kenya, DRC, Mali, Ivory Coast, Uganda, Rwanda and Togo for their positive response to the call for recapitalization, this continues to show confidence in the strategy of the company,” Chimphondah noted.
Shelter Afrique has approved financing projects of more than U$ 52.246m in Tanzania but has also has equity Tanzania Mortgage Refinance Company since in 2014 and has remained an active member.