Property developer Home Afrika is seeking to raise Sh1.8 billion from a strategic investor before end of the year in bid to complete stalled projects. He however declined to release the names citing that it is against the Capital Markets Authority regulations. According to the CEO,Sh 5 billion on a market capitalization of Sh400 million is very skewed, so we have broken it into different phases”. The firm is 67 per cent owned by local individuals investors, 28 per cent local institutional investors and five per cent foreign investors. Moving forward, the firm has also turned to seeking short term capital from its smart homes projects to meet their day to day obligations.

Source: The Star April 23, 2018 22:07 UTC