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Cameroon pumps Sh300 million into Shelter Afrique

The Standard|Moses Omusolo| 5th August 2021

The Cameroonian government has increased its stake in the pan-African housing financier Shelter Afrique by pumping over Sh380 million into the organisation.

This ups the country’s shareholding by two per cent. "Shelter Afrique has received $3.53 million (Sh380 million) from the Government of Cameroon in additional capital subscription, increasing its shareholding by two per cent from the current shareholding of 3.61 per cent to the revised shareholding of 5.24 per cent," said the institution in a statement.

Kenya has The move comes after Kenya acquired an additional stake in the firm - solidifying its position as the largest shareholder - after Treasury injected Sh984.4 million ($9.2 million) into the company.

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