Shelter Afrique’s net loss widened 18.5% YoY to $9.23 mln in 2018
Wednesday, 26 June 2019 15:03
Shelter Afrique, a pan-African housing finance company, announced June 20 it suffered an 18.5% increase in net loss to $9.23 million during the FY2018.
The company attributes this fourth loss-making year in a row to its commitment in 2016 to suspend approvals of new loans as part of a moratorium period agreed with lenders.
Shelter Afrique bases its business model on raising funds in local currency on regional financial markets to develop affordable housing projects. It was created in 1982 and is managed by 44 States, the African Development Bank (AfDB), the insurer Africa-Re, the French Development Agency and the Dutch Development Fund FMO.
In addition to financing affordable housing in Africa, the institution provides technical assistance to its Member States in implementing their real estate development strategies.
Live News
-
Libya, Algeria Agree to Restart Passenger Flights After Years of Disruption
12:26
-
U.S. mining firm KoBold to invest $50 million in DR Congo lithium exploration
12:17
-
Benin’s ruling ticket wins 94.05% in provisional results, opposition concedes
12:16
-
Tanzania sees 48% rebound in cotton output in 2025/26, still below initial target
11:39
-
Togo earmarks CFA1.3 bln to procure 742,902 mosquito nets in 2026
18:01
-
FAO, Togo ministry roll out RuralInvest to improve farm project financing
17:49
-
Togo unveils STELLA project to train 2,000 engineers by 2030
17:42
-
Togo inflation edges up to 1.6% in March, led by housing and energy
17:32
-
Burkina Faso Moves Travel Declarations Online in Security Push
17:03
-
Morocco and Gabon Expand Digital Partnership With Focus on Skills and AI
16:58
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
Agreement allows 14 weekly passenger flights plus cargo Move supports Libya’s aviation recovery after years of disruption Libya and Algeria signed a...
KoBold launches $50 million lithium exploration in DR Congo Program covers 3,000+ km², using AI, drilling and surveys Initiative follows...
Wadagni–Talata lead with 94.05% in provisional results Outcome deemed irreversible with 90.55% ballots counted Opposition concedes ahead of...
Tanzania forecasts 222,057 tonnes cotton output for 2025/26 Production rebounds 48% after drought-hit 2024/25 season Output volatility persists;...
French lawmakers approve colonial-era restitution framework unanimously Law enables returns by decree, replacing case-by-case...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...