Shelter Afrique's 2020 results indicate that the company has returned to profitability. The company ended the year with good performances.

The pan-African housing development finance company is returning to profitability to signify a successful recovery. Total comprehensive income increased to 196 million shillings ($1.85 million) in 2020, compared to a loss of 134 million shillings ($1.26 million) recorded in 2019, an increase of 247% year-on-year < br/> Shelter Afrique President Dr Steve Mainda said the turnaround strategy put in place in 2016 has finally paid off and the company is now financially viable.
"Between 2016-2018, the Company reduced its activities and, in the process, underwent a restructuring program that resulted in the crafting of the 2019-2023 Strategic Plan. The Strategic Plan focused on three key strategic objectives (SOs), which are supported by key strategic objectives of achieving financial sustainability, improving shareholder value & development impact, and organizational sustainability. I would like to congratulate the competent team for their judicious implementation of the recovery plan, which has made it possible to achieve the desired results before the time ," said Dr. Mainda.
The company ended the year with a high liquidity position, with a cash balance of Ksh 4.9 billion, resulting in a strong liquidity ratio of 27%, 12% points above the prudential limit of 15%.