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Mortgage: Shelter Afrique seeks fresh cash injection as debt looms

Deputy Executive Director -UNHabitat- Dr. Aisa Kyawira (L) and Acting Managing Director- Shelter Afrique. Mr. Femi Adewole (PHOTO: James Wanzala,Standard)

NAIROBI, KENYA: Mortgage lender Shelter Afrique is shopping around for new shareholders to help it meet its debt obligation as countries drag their feet to fund it.

The firm, which is co-owned by 44 African nations, the AfDB and the Africa Reinsurance Company, has been calling for a bailout to meet liquidity ratios, pay its debt and finance its strategic goals.

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