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    Andrew Chimphondah parts ways with Shelter Afrique

    Following a recently held board meeting, it was decided that managing director Andrew Chimphondah and pan-African housing financier Shelter Afrique would part ways.
    MD Andrew Chimphondah to part ways with Shelter Afrique.
    MD Andrew Chimphondah to part ways with Shelter Afrique.

    Chimphondah, who was appointed MD in September 2018, is a chartered accountant and oversaw the turnaround strategy of the housing financier approved by its General Assembly in 2017. Chimphondah also presided over a return to profit and was instrumental in raising substantial capital subscriptions from member countries.

    The organisation, however, is in the middle of a reorganisation and restructuring to optimise service delivery and during this transition, it will be stewarded by Kingsley Muwowo, the chief finance officer, as acting MD pending the recruitment of a substantive MD.

    In 2021, the financier announced plans for a $500m Naira Bond and is in advanced stages of completing the process of floating the bond on the Nigerian Stock Exchange.

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