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Shelter Afrique eyeing Sh9.2b capital injection from shareholders

Shelter Afrique Managing Director James Mugerwa

Pan African housing development finance institution, Shelter Afrique, wants Sh9.2 billion ($90 million) next year to shore up its balance sheet.

The firm which got a two-notch downgrade from Moodys rating agency — from Ba1 to Ba3 — says it will be meeting its 46 shareholders in January to pitch for additional resources.

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