Inspiring Africa's Sustainable Business Growth
AFRICA – Shelter Afrique, a pan-African finance institution, has announced plans to develop a Sovereign Lending product that will supplement its traditional products that attend to both the demand and supply sides of the housing value chain. Shelter Afrique Ag. Managing Director Kingsley Muwowo said Africa’s GDP contraction resulting from the Covid-19 pandemic was an alarming sign of a slump…
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KENYA – Acorn Holdings, through its subsidiary Acorn Project (Two) LLP, has announced its intention to exercise an early redemption option of KSh800.2 million (US$6.6m) of its KSh5.7 billion (US$47m) green bond, being a portion of outstanding notes issued under the bond program. According to Acorn, the redemption will be effected on or before the 31st of this month, at…
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NIGERIA – Spleet, a real estate technology startup, has successfully received a seed round of US$2.6 million to extend its residential rent-focused solutions across Africa. The funding was spearheaded by MaC Venture Capital. Noemis Ventures, Plug and Play Ventures, Metaprop Venture Capital, HoaQ Fund, Assembly Fund, Ajim Capital, Francis Fund, and Eduardo Campos are some of the investors in this…
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MEA – Partment, a proptech firm that provides co-owned second homes, has announced that it has successfully concluded its pre-seed round at US$1.5 million to improve the infrastructure of the platform and launch its MVP in Egypt. Nclude, a leading venture capital platform focused on investing in fintech and fintech-enabled startups in Egypt, the Middle East, and Africa, as well…
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KENYA – Family Bank Limited has been appointed as a Central Depository Agent (CDA) and as a settlement bank by the Central Depository and Settlement Corporation (CDSC), allowing the lender to widen its portfolio of financial services offered to its customers. The CDSC said that the move is in line with its strategy to increase both physical and digital access…
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SOUTH AFRICA – International Financial Corporation (IFC) and Redefine Properties Ltd., a leading South African-based Real Estate Investment Trust (REIT) announced the issuance of a green bond, with IFC as anchor investor, to help promote sustainability and climate-smart commercial real estate in South Africa. Redefine will use the bond’s proceeds to improve the environmental sustainability of eligible buildings in its…
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SOUTH AFRICA – Mergence Investment Managers, through its Infrastructure and Development Equity Fund, has acquired a controlling equity stake in a portion of the innovative affordable rental housing group, Live Easy. Mergence acquired the majority stake in Live Easy from funds advised by Stockdale Street, with one of South Africa’s largest commercial banks and Westbrooke Alternative Asset Management respectively providing…
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KENYA – Shelter Afrique, a housing development financier, has appointed Thierno-Habib Hann as the new Chief Executive Officer, succeeding Mr. Andrew Chimphondah who left the company in February this year. Mr Hann currently serves as the Asia-Pacific Lead for housing finance at the International Finance Corporation (IFC), based in Bangkok, where he leads the strategy development and implementation of He…
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SOUTH AFRICA – The International Finance Corporation (IFC) and Absa Bank Limited, one of the leading providers of residential mortgages in South Africa have partnered to support the expansion of housing finance targeting lower-to-middle income households IFC’s local currency loan of up to 2 billion South African rand (US$124 million) will help expand Absa’s affordable housing mortgage portfolio in South…
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AFRICA – Pan African housing development financier Shelter Afrique has posted an operating profit of US$1.04 million up from operating loss of US$0.58 million the Company recorded in 2020, backed by impairment recoveries and effective cost control measures. The Company contained its operating expenses at US$8.04 million in 2021 down from US$8.44 million in 2020, representing a 10% decline. It…
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