FSA Joins Class B Shares of African Development Bank and African Reinsurance Company

press release

Mr. Ahmadou Abdullah Diallo, Managing Director of Fonds of Solidarite Africain, signed the Underwriting and Compliance Undertaking Agreement in Nairobi after becoming an Afrikaner at the age of 47.day This was witnessed by shareholders, Shelter Afrique Chairman Dr. Steve Minda (right), Shelter Afrique Group CEO and CEO Andrew Chimfunda, and Shelter Afrique Legal Director Hoda Boudali.

Nairobi – Kenya: August 17, 2021: After paying a capital subscription of 1 billion CFA francs (approximately US$2 million), the Niamey-based Foundation for African Solidarity (FSA) becomes the 47th shareholder of Shelter Afrique and gives it 0.6% of the participation. company. Equity, Pan-African Housing Development Funding was revealed on Tuesday.

Dr. Steve Minda, President of Shelter Afrique, signed the Underwriting Pledge and FSA Compliance Document in Nairobi and said that after obtaining unanimous approval from the shareholders at the company’s 40th annual meeting, it was decided to accept the African Solidarity Foundation as a shareholder. Meeting in Yavin, Cameroon, in June. It must be done.

I would like to thank the General Assembly for passing the resolution and accepting the FSA as the 47th shareholder. I would also like to thank Shelter Afrique’s management and staff for achieving the goals set by the Board of Directors. Finally, let me thank the Financial Services Authority for defining a common vision and for sharing our vision for development. Dr. said. Minda The enthusiasm for Africa, especially the provision of financial services to promote economic development in Africa.

Shelter Afrique recently increased equity subscription income for existing shareholders while mobilizing more incentives to recruit new shareholders.

“We are delighted to welcome the Foundation for African Solidarity into the Shelter Afrique family. This is an amazing milestone that convinces and reassures us greatly that our vision to provide decent and affordable housing for all Africans is not only shared by others, but it is important and necessary.

Andrew Chimponda, CEO and CEO of Shelter Afrique Group, Dr. Steve Minda (right), President of Shelter Afrique, and Ahmadou Abdallah Diallo, Managing Director of Fonds of Solidarite Africa, after signing the Underwriting Undertaking and Compliance Agreement by Mr. Diallo, recognized unanimously At 47 Shelter Afrique’s Foundation for African Solidarityday partner.

Fonds de Solidarite Africanain was established in December 1976. Its mission is to promote the economic development of the African member states. It acts as a catalyst by granting loans to productive investment projects and promoting the mobilization of domestic and external savings through guarantee interventions.

The pan-African perspective, vision and mission of Fonds de Solidarite Africain is similar to that of Shelter Afrique. We are so happy that we are now members of the Shelter Afrique family. The two agencies’ intervention technologies are complementary to each other and we look forward to working together to resolve the impact in Africa. The various problems of the population and, most importantly, the financing of affordable housing in Africa. “Our ultimate goal is to secure a permanent seat on the Shelter Afrique board of directors,” Ahmadou said. Abdallah Diallo, CEO, Solidarity African Foundation.

Post Category

Shelter Afrique’s shareholder group has two shareholder groups in 44 African countries, including Algeria, Benin, Botswana, Burkina Faso, Cameroon, Cape Verde, Central African Republic, Chad, Congo, Ivory Coast and the Democratic Republic of the Congo. Djibouti, Gabon, Gambia, Ghana, Guinea Conakry, Guinea-Bissau, Equatorial Guinea, Cote d’Ivoire, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Namibia, Niger, Nigeria, Rwanda, Santo belong to Tome and Principe Senegal, Seychelles, Sierra Leone, Somalia, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe to Class A; The African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re) are categorized as ‘Class B’.

Fonds de Solidarite Africain is now affiliated with the African Development Bank and African Reinsurance Corporation, and it belongs to class ‘B’ stock.

“Our aim is to include the remaining 10 African countries that have not yet joined this great African development financial institution, and immediately focus on South Sudan, Egypt, South Africa and Ethiopia. We are also committed to being in category B, and we have hired more of local African companies and expanding our capital to accommodate other non-African investors under the “C” capital that we have set up.”

Acerca from the shelter of Africa

Shelter-Afrique is a pan-African housing and development finance agency established by African governments to meet African needs for sustainable housing supply systems and related infrastructure projects. The shareholders include 44 African countries, the African Development Bank and the African Reinsurance Company.

The company’s mission is to provide financing for housing and urban infrastructure projects to public and private institutions in member countries through debt, quasi-equity and equity capital. Shelter Afrique establishes a strategic partnership and provides a range of related products and services to support the efficient delivery of affordable housing and commercial real estate, including project finance, corporate loans, equity investments, joint ventures, commercial finance and social housing.

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