Shelter Afrique issues €30 million bond

Sep 16, 2013

Shelter Afrique has launched a Sh3.5 billion (€30 million) five year bond, with a provision to raise the amount to Sh5 billion in the event of over subscription.

Shelter Afrique has launched a Sh3.5 billion (€30 million) five year bond, with a provision to raise the amount to Sh5 billion in the event of over subscription.

The housing finance institution plans to invest further in housing projects in Western and Southern Africa, as well as in Kenya.


The purpose of this bond is to raise money from investors to build low-cost housing for the middle
class." In
Kenya there is a big shortage,"
Shelter Afrique’s managing director Alassane Bâ told CNBC Africa.

"Housing is a growing sector and we will be part of the good story of Africa. We will especially help transform Africa, contribute to sustained
inclusive growth and make sure every African can access a decent house," he said.

Alassane Bâ added that the bond is open to both local and foreign investors, and that the subscription period for this issue ends on September 20th.ADNFCR-2976-ID-801637133-ADNFCR