The Nigerian Credit Rating Agency, Agusto & Co. Limited released its rating report on Monday, November 6, awarding ratings “A” and “A+” to the Shelter Afrique Development Bank, ShafDB (formerly Shelter Afrique

The rating report confirmed the A+ awarded to Series I bonds in the 5-year slice A at 13% of 27.18 billion naira ($33.6 million USD) and the 7-year bracket B at 18.82 billion naira (23.31 million USD) at 13.25% of Shelter Afrique, issued in April 2022 as part of the program of emission of 200 billion naira (247.8 million USD) domestic bonds. According to the agency, these ratings reflect Shelter Afrique's core development mandate, the support of shareholders, the strong representation of beneficiary countries among members and the multi-pronged strategy to stimulate the demand and supply of affordable housing in Africa.