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Shelter Afrique offers realtors Sh3.1bn relief

Shelter Afrique managing director Andrew Chimpondah (left), Housing PS Charles Hinga and Housing secretary Patrick Bucha during a joint media briefing in Nairobi on February 7. PHOTO | DIANA NGILA

By  JAMES KARIUKI

Pan-African housing development financier Shelter Afrique has restructured loans granted to seven Kenyan home developers worth Sh3.1 billion, exposing it to a cash flow loss of Sh85 million.

Managing director Andrew Chimphondah said the board resolved to defer repayments until January 2021 to cushion the developers from the adverse impact of Covid-19 that has disrupted construction and slowed down economic activities.

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