Because of expectations of a return to profitability in the next two years, the South African rating agency GRC has given Shelter Afrique a positive outlook. It was Tuesday the 4th

The pan-African housing development broker has obtained long-term B- and short-term B- issuer ratings from the South African rating agency GCR. The outlook has been changed to positive, reflecting the strong improvement in fundamentals and reforms of ongoing governance within the organization. At the end of last year, the company reduced its non-performing loans ratio from 67% in 2021 to 51%.

Shelter-Africa is a pan-African housing finance and development institution created by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. It is currently owned by 44 African countries, the African Development Bank (AfDB) and the African Reinsurance Corporation (Africa-Re