Le conseil Board of Directors of Shelter Afrique, a pan-African financial institution dedicated to the promotion of housing and real estate, has approved the creation of a development structure eacute; farsightedness (bad bank) to treat its non-performing loans and clean up

Shelter Afrique, also known as the Society for Housing and Housing in Africa, specified in its 2023 annual report that a mutual fund (FCC) will be set up to house the balance of non-performing loans (PNP) as of September 30 2023, with a provision for the inclusion of any regularization between the period indicated and the end of the year. The creation of this “bad bank”, a structure into which the doubtful assets of a financial institution in difficulty are transferred, is part of a recovery plan for Shelter Afrique, which has experienced a prolonged period of losses, marked by frequent changes in management

The institution also reported that its board of directors has taken other important resolutions aimed at improving the company's governance and performance, including approving the increase of the retirement age for employees from 60 to 65 and raising the voluntary retirement age from 55 to 60, with effective as of April 1, 2023.