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Home People Shelter Afrique hunts for a new boss

Shelter Afrique hunts for a new boss

by Val Lukhanyu
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Shelter Afrique is hunting for a new boss to head the firm after Chimphondah’s exit in February 2022 under unclear circumstances following a resent pettion after serving as the company boss for three and half years.

The new CEO who will take over from where Andrew Chimpondah left at, he/she will be in charge of the overall responsibility for the implementation of the company’s mandate to mobilise resources for the development of housing and related infrastructure in Africa. She/he will also be in charge of implementing housing-related infrastructure at the company among other duties.

“Reporting to the Shelter Afrique Board of Directors, the managing director has overall responsibility for the implementation of Shelter Afrique’s mandate to mobilise resources for the development of housing and related infrastructure in Africa,” according to the agency notice.

“In collaboration with private and public sector institutions, he/she will identify, develop and implement housing and related infrastructure projects, mobilise the required resources, manage them and apply them prudently to enable Shelter Afrique to achieve its mandate.”

Shelter Afrique is also eyeing to roll out its planned issueance of $.25 billion worth of new bonds from African capital markets.It will be seeking $500 million from East Africa and a similar amount from Nigeria, with the remaining $250 million coming from its francophone markets that the new CEO will oversee.

The new appointee already has a preset track record of perfromance from the ex CEO’s that needs to be maintained. Before his exit, the company’s EX CEO Andrew Chimpondah oversaw a turnaround, including raising capital and debt restructuring. The firm last year said it completed the repayment of the balance of $186 million owed to eight lenders three years ahead of schedule.

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