Zim tops Shelter Afrique loan disbursements
BUSINESS REPORTER
Zimbabwe topped loan disbursement by Shelter Afrique in 2021, accounting for 42% the total expended amid rising confidence in local lenders by the pan African finance institutions.
Of the US$26.2m disbursed by Shelter Afrique, US$11m was channelled to pan African banking group BancABC for housing development, the Kenya-headquartered finance institution that exclusively supports the development of housing and real estate on the continent said in its annual report.
Nigeria was second after WEMA got US$9m (34%), Namibia’s NIC (US$3.3m), MSD from the Democratic Republic of Congo (US$2m) and Rwanda’s property development concern Oxypro received US$938 111.
Last year, BancABC Zimbabwe and Shelter Afrique signed a US$11m deal to fund the construction of houses for low to middle income earners. The deal will result in the construction of over 2000 houses.
Shelter Afrique, which has in the past lent to CABS and CBZ, said the deal was a show of “our confidence in the market of Zimbabwe and we are here to support them in achieving their goals and objectives”.
Zimbabwe is one of the eight paid up shareholders of the Kenya-headquartered financial institution alongside Lesotho, Namibia, Morocco, Togo, Mali, DRC and Tanzania.
Zimbabwe has a 1.37% shareholding in Shelter Afrique.
