Nairobi, July 14 -- Pan-African housing financier Shelter Afrique plans to raise funds from the bonds market in about two years to fund new real estate projects, the firm said Monday.
The company, which is aiming to turn around its fortunes, said however the return to the bond market is still subject to its return to profitability.
Shelter Afrique raised Sh2.9 billion in a bond issue in 2011 and Sh1 billion in 2009. It also listed a Sh5 billion five-year medium-term unsecured note on the Nairobi Securities Exchange (NSE) in 2013, maturing in September 2018.
"We could not raise debt until (we) restructured. Right now, we are in the market and are getting the response," said Shelter Afrique chief financial officer Kingsley Muwowo during an...