African Solidarity Fund (ASF) based in Niamey became the 47e shareholder of Shelter Afrique after having paid 1 billion FCFA (about 2 million US dollars) of capital subscription, granting him 0.6% of the capital of the company, revealed Tuesday the pan-African financing of the development of the habitat.
Speaking at the signing of the Subscription Pledge and Instrument of Membership by the FSA in Nairobi, Shelter Afrique President Dr Steve Mainda said the decision to admit the Solidarity Fund African as a shareholder followed unanimous shareholder approval at the 40e Annual general meeting held in June, in Yaoundé, Cameroon.
“I would like to thank the General Assembly for adopting the resolution to admit the FSA as our 47e Shareholder. I would also like to thank the management and staff of Shelter Afrique for achieving the goals set by the board of directors. Finally, allow me to thank the FSA for identifying a common vision and sharing our zeal for the development of Africa and in particular the provision of financial services to propel African economies, ”said Dr Mainda.
In the recent past, Shelter Afrique has stepped up capital subscription revenues for current shareholders and at the same time mobilized an increased effort to recruit new shareholders.
“We are happy to welcome African Solidarity Fund to the Shelter Afrique family. This is a remarkable step which gives us the assurance and the great comfort that our vision of providing decent and affordable housing for all Africans is not only shared by others, but is worthy and necessary ”, a said Andrew Chimphondah, Managing Director and CEO of Shelter Afrique Group. .
African Solidarity Fund was created in December 1976 with the mission of facilitating the economic development of its African member states by acting as a catalyst by enabling access to loans for productive investment projects and by facilitating the mobilization of local savings and external by guarantee interventions.
“The pan-African vision, vision and mission of the African Solidarity Fund is similar to that of Shelter Afrique and we are happy to now be part of the Shelter Afrique family. The intervention techniques of the two institutions are complementary and we look forward to working together to address the different issues that affect the African population, most importantly, the financing of affordable housing in Africa. Our ultimate goal is to acquire a permanent seat on the board of directors of Shelter Afrique, ”said the Managing Director of the African Solidarity Fund, Mr. Ahmadou Abdoulaye Diallo.
Shelter Afrique’s capital is held by two groups of shareholders made up of 44 African countries, including Algeria, Benin, Botswana, Burkina Faso, Cameroon, Cape Verde, Central African Republic, Chad, Congo, Ivory Coast, Democratic Republic of Congo, Djibouti, Gabon, Gambia, Ghana, Guinea Conakry, Guinea Bissau, Equatorial Guinea, Ivory Coast, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Namibia, Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Seychelles, Sierra Leone, Somalia, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe, in “Class A”; and the African Development Bank (AfDB) and the African Reinsurance Company (Africa-Re) in “class B”.
African Solidarity Fund now joins the African Development Bank and the Africa Reinsurance Corporation in the “Class B” shareholding category.
“Our goal is to integrate the remaining 10 African countries that are not yet members of this great pan-African development finance institution with immediate focus on South Sudan, Egypt, South Africa and Ethiopia . We are also working to register a greater number of African indigenous companies in the “Class B” category and to expand our shareholding to accommodate other non-African investors in the “Class-C” category, that we have already created, ”concluded Mr. Chimphondah.