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Shelter Afrique has announced a return to profitability with a net profit of Sh7.8 million for the first half of 2019.
The Pan-African housing development lender posted a Sh500 million loss in the same period last year and a loss of Sh930 million for the full year 2018. “It is a modest profit, (but) to us it is a big milestone,” said Shelter Afrique Managing Director Andrew Chimphondah. The profit came against a budgeted loss of Sh72 million.
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