Shelter Afrique officials during release of 2020 financial results (PHOTO:Courtesy)Pan African housing development financier Shelter Afrique has returned to profitability in its 2020 earnings. Shelter Afrique Chairman Steve Mainda said the turnaround strategy put in place in 2016 had finally paid off. The Strategic Plan focused on three Key Strategic Goals (SGs), which are supported by key strategic objectives of achieving financial sustainability, enhancing shareholders’ value & development impact, and organisational sustainability. In the 2019-2023 Strategic Plan, the Company had projected a return to financial viability by 2020 and overall financial sustainability and profitability by 2023. With the robust loan pipeline of Sh89 billion (US$840M) from 2021 and beyond, the Company is poised to declare dividends to the 46 shareholders sooner,” said Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah.

Source: Standard Digital March 27, 2021 06:56 UTC