Automation technology company Jaggaer partners real estate developer Ora Developers

EGYPT – Jaggaer, a provider of cloud-based business automation technology, has signed an exclusive deal with Ora Developers, one of Egypt’s real estate developers of luxury residential, hospitality and commercial properties around the world. As part the agreement, Ora Developers will transform their sourcing and supplier management processes through the implementation of Jaggaer’s source-to-pay platform Jaggaer One. The intuitive platform will enable better sourcing decisions, faster cycle times as well as streamlined data processes for enhanced collaboration and supplier relationships. “Jaggaer’s SaaS based source to pay solution was the perfect…

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Tanzania ups its stake in Shelter Afrique to 1.54%

KENYA – The Government of Tanzania has increased its stake in Shelter Afrique after paying US$2.7 million in additional capital, the pan-African housing development financier has disclosed. The additional stake now takes Tanzania’s shareholding to 1.54% up from 0.3% held previously. Effectively, the contribution now reduces ownership of the top three shareholders with Kenya’s, Nigeria’s and African Development Bank’s shareholdings now standing at 17.78%, 13.27% and 12.83%, respectively. Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah said it was gratifying to see the unwavering support and renewed confidence…

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Arkan Palm secures US$95m to finance the “205” real estate project

EGYPT – Arkan Palm for Real Estate Investment has secured a long-term financing contract worth EGP 1.5 billion (US$95.36m) with a banking alliance has concluded to finance part of the investment cost of the company’s first phase of the “205” real estate project in Sheikh Zayed City. The alliance includes five banks: the Export Development Bank of Egypt (EBE), as the main arranger, general coordinator, and guarantee; the Housing and Development Bank (HDB); the United Bank; Suez Canal Bank, and MID Bank. The contributions of each bank in the financing…

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Rental scheme company Rent4Less by Alpha Mead raises US$1 million private placement bond

NIGERIA – Rent4Less by Alpha Mead, a rental scheme designed to provide a flexible and convenient option for middle income Nigerians to rent homes, has raised a fixed-rate series one US$1 million private placement bond. The Senior Secured Private bond, issued by Alpha Mead is another milestone in the series of the company’s expansion strategies to increase access to shelter and perpetuate the culture of monthly rent payment across the continent’s housing and office markets. Rent4Less by Alpha Mead is a rental scheme designed to support individuals and small businesses…

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Micro-lender Letshego gets US$50m loan from IFC to boost affordable housing in Namibia

NAMIBIA – Pan African microlender Letshego has received a KSh5.49 billion (US$50 million) loan from the International Finance Corporation (IFC) to boost affordable housing lending in Namibia with the potential to expand the partnership to other countries including Kenya. The IFC, the World Bank’s private-sector lending arm said it is committed to working with partners across Africa to help increase access to affordable housing, including supporting the development of sustainable and responsible mortgage markets. The lender’s new loan will help it finance up to 4,000 home developers in Namibia, the…

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Fonds de Solidarite Africain becomes Shelter Afrique’s latest shareholder

KENYA – Fonds de Solidarite Africain (FSA), a Niamey-based development financial institution has become the 47th shareholder of Shelter Afrique after paying US$2 million in capital subscription, granting it 0.6% stake in the pan –African housing development finance company. Shelter Afrique’s Chairman Dr. Steve Mainda said the decision to admit Fonds de Solidarite Africain as a shareholder followed the unanimous approval by shareholders at the Company’s 40th Annual General Meeting held in June 2021, in Yaoundé, Cameroon.  “I wish to thank the General Assembly for passing the resolution to admit…

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Fortress REIT launches US$61.3m sustainability-linked bonds on JSE to scale-up

SOUTH AFRICA – Hybrid fund Fortress Reit said it had launched sustainability-linked bonds of R900 (US$61.3 million) million aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy outputs and deliver more solar energy to the national grid. The Johannesburg Stock Exchange had granted Fortress the listing of a three-year sustainability-linked bond of R495 million (US$33.7 million) and a five-year sustainability-linked note of R405 million (US$27.6 million). It said. “Although the bonds do not have specific use-of-proceed requirements, the funds will assist Fortress with…

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West Africa’s homebuilder Jobomax launches its first model for middle and lower-income buyers

WEST AFRICA – Jobomax, West Africa’s homebuilder, has announced its first model in the US$10,000 – US$20,000 price range, to expand options for middle and lower-income buyers. Given the company’s existing housing finance solutions, the new product delivers the possibility of homeownership to African communities unserved by the current market. The company has a strong track record of success in the Guinea and Sierra Leone markets, delivering houses ranging between US$25,000-US$150,000 focused on the local middle class and diaspora customers. “The new US$10,000 starting price means we expand our ability…

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Cameroon ups its stake in Shelter Afrique with injection of US$3.5m fresh capital

KENYA – Pan African housing finance and development institution Shelter Afrique has received US$3,529,801.29 from the Government of Cameroon in additional capital subscription increasing its shareholding by 2% from the current shareholding of 3.61% to the revised shareholding of 5.24%. Cameroon, which recently acceded to the helm of the Institution at the recently concluded 40th Annual General meeting has indeed demonstrated its commitment to strengthening Shelter Afrique’s capital base. The Cameroon Minister for Housing and Urban Development, Her Excellency Madame Celestine Ketcha Courtes was newly appointed as President of the…

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Kenya’s Green Housing Projects receive US$48m boost from UK

KENYA – The United Kingdom through its UK Climate Investments and FSD Africa Investments will inject Kshs 5.2 billion (£35 million) to develop Kenya’s affordable green housing projects. UK Climate Investments (UKCI), the British Government’s International Climate Finance flagship program, has committed KShs 4.4 billion (£30 million). FSD Africa Investments (FSDAi), the investment arm of Britain’s flagship financial sector development agency in Africa, has committed KSh 740 million (£5 million) to the green housing initiative. The UK will channel this £35 million (KSh 5.2 billion) investment into a new 10-year…

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