In September 2020, the institution received a $9.4 million additional capital subscription from Nigeria.
In a statement on Monday, Shelter Afrique said the additional stake takes Nigeria’s shareholding to 15.8 per cent, one per cent behind top shareholder Kenya, which currently stands at 16.85 per cent. It said other top three shareholders of Shelter Afrique whose shareholdings have also changed include African Development Bank , which now stands at 12.16 per cent down from 12.71 percent; Mali at 5.3 per cent down from 5.54 per cent; and Ghana at 5.05 per cent down from 5.28 per cent.
“We are grateful to the government of Nigeria for their continued support and the importance they have placed on affordable housing. We are especially grateful to the minister for Works and Housing Babatunde Fashola, minister of state, Engineer Abubakar Aliyu, and minister of Finance Dr Zainab Shamsuna Ahmed, for their long-term support and for honouring this significant payment. Additionally, we appreciate Nigeria’s active shareholder and board participation,” Muwowo said.
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