Shelter Afrique, a Pan-African finance institution has officially entered
into an agreement with the Ivorian government to begin operations for
Francophone West and Central Africa.
A
press release says Shelter Afrique signed a host agreement in Abidjan on
November 10, 2016 and the ceremony was attended by senior management of the
financier and the Minster of Foreign Affairs for Ivory Coast.
The
Managing Director of Shelter Afrique, Mr.
James Mugerwa, commended the Ivorian government for always being a willing
partner, noting that Shelter Afrique had successfully hosted its Annual General
Meeting in Abidjan in 2014.
He
was cited as saying that, “It was not incidental that Shelter Afrique chose Abidjan as
its location. Over the last two years, we have drafted and entered into a new
strategy cycle for the years 2015-2020, a strategy that rests largely on three
key pillars, re-consolidation; growth & diversification and social impact
and market relevance. One of key activities is setting up regional offices and
getting closer to the market.
“Our
choice of Ivory Coast is a reflection of the central role this country and
market plays in our strategy, and is our acknowledgment of the burgeoning
economic strides the government has made. It is also an acknowledgment of the
good relations and cooperation that we have enjoyed and continue to enjoy with
the government.”
Shelter
Afrique’s choice to locate its francophone business in Abidjan coincides with
recent IMF reports that pin the West African nation as the fastest growing in
Africa, the release noted. This growth which was spurred on by a return to
political stability following a period of conflict, an uptick in infrastructure
spending and a burgeoning middle-class is making the country a prime location
for investment.
It
noted further that Shelter Afrique has plans to open another regional office in
Lusaka, Zambia bringing the total to three outposts, and also mentioned a plan
to launch the regional office at a later time.
The
Minister of Foreign Affairs, Mr.
Abdallah Albert Toikeusse Mabri, who spoke on behalf of the government,
assured Shelter Afrique of continued government support and encouraged them to
begin to view Ivory Coast as an extension of their corporate presence.
It
is anticipated that the Abidjan office will serve Ivory Coast, Senegal, Mali,
Mauritania, Burkina Faso, Congo DRC, Guinea Conakry, the release said. (Ghana
Business News)
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