Shelter Afrique has rebounded from a Sh1.5 billion ($11.7 million) loss to post a profit of Sh128 million ($994,049) – the second positive net earnings in over seven years – following a rise in revenues and a drop in non-performing loans (NPLs).
The pan-African housing financier last made a profit in 2021, when it posted Sh233 million ($1.8 million) net earnings, after making losses for six consecutive years since 2015, amid falling revenue as its loan book thinned and non-performing loans soared.
