Shelter Afrique signs protocol agreement with government of Togo

The treaty grants the pan-African housing development financier vital diplomatic privileges and concessions to support the delivery of low-cost houses in Togo

Nairobi, Kenya: May 26th 2021: Shelter Afrique has signed a protocol agreement with the Government of Togo aimed at consolidating the diplomatic relations between the latter and the pan-African housing development financier.

The protocol was signed in Nairobi by Shelter Afrique Group Managing Director and CEO Andrew Chimphondah and the Togolese Ambassador to Africa Union & United Nations Economic Commission Mr. Batengue Bankotina.
Speaking at the signing ceremony, Mr. Chimphondah said Shelter Afrique was positioned uniquely as the only development finance institution charged with the provision of low-cost large-scale housing on the African continent.

“Togo has provided the much-needed enabling environment necessary for the delivery of large-scale low-cost housing through viable public private partnerships. We have signed these agreements in Kenya, Nigeria and Ivory Coast as Host countries for our offices. We will be securing similar agreements with all our remaining 40 member-countries that are yet to sign similar agreements. The privileges enshrined in the protocol agreements are critical to that.

The agreement we have signed with the government of Togo guarantees us tax-concessions that lower the cost of housing, freedom of movement, recognition of our travel documents, exemptions from stamp duty and other diplomatic privileges enshrined in the Vienna Convention of Diplomatic Relations of 1961.

Togo’s commitment to this agreement signals that the country not only welcomes Shelter Afrique to do business in Togo, but that the Togolese government supports our mandate and vision to deliver decent and affordable homes to all Africans,” Mr. Chimphondah said.

On his part, Amb. Bankotina lauded the strengthening cooperation between the Government of Togo and Shelter Afrique, noting that the signing of protocol was a critical step in affording Shelter Afrique the flexibility it needs to undertake key projects in Togo.

“The protocol agreement we’ve signed with Shelter Afrique opens a new phase of partnership and is crucial in achieving our 2025 housing goal with the full support from Shelter Afrique,” Amb. Bankotina said.

Affordable housing
Early March, Shelter Afrique signed a Memorandum of Understanding (MOU) with the government of Togo with the Minister of City Planning, Housing and Land Reform Koffi Tsolenyanu. to co-develop 3,000 low-cost housing units in the Togo’s Capital, Lomé.

“This means that Shelter Afrique team will be having increased engagements in Togo going forward thus the need for such a treaty to be put in place to facilitate the team’s work and movement,” Mr. Chimphondah explained.
Togo has fully paid it capital subscription obligation to Shelter Afrique, signifying its commitment to strengthen the Company’s capital base.

Mr. Chimphondah said Shelter Afrique is currently exploring an opportunity for USD10 million in additional capital for Togo to secure a permanent seat on Shelter Afrique’s Board and has invited Togo to host the 42nd Annual General meeting in 2023.