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Shelter Afrique eyes shareholders to boost capital

Shelter Afrique managing director Andrew Chimpondah (left) and chairman Daniel Nghidinua during the release of the housing financier’s half year results in Nairobi on September 20, 2019. PHOTO | SALATON NJAU

By  BRIAN NGUGI

Pan-African housing financier Shelter Afrique is now eyeing new shareholders as it seeks to diversify its recently shrunk capital base and improve its balance sheet.

The firm said it is targeting non-African countries and institutions such as China, CDC and housing corporations under its Class “C” shares category. Additional target African countries include Egypt, Angola, Ethiopia, and Mozambique.

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