Shelter Afrique Transforms into Africa’s Housing Development Bank

Emmanuel Addeh in Abuja

To tackle the housing problem on the continent, Shelter Afrique, the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa, has transformed into Shelter Afrique Development Bank (ShafDB).

The milestone, a statement from the Ministry of Housing and Urban Development said, was realised during the Extraordinary General Meeting (EGM) of Shelter Afrique held in Algiers, the capital of Algeria this October 4

The minister, Musa Dangiwa, the statement stressed, chaired the 42nd Shelter Afrique Annual General Meeting (AGM) Bureau and played a pivotal role in steering the successful transformation.

“Under the chairmanship of Dangiwa, the EGM witnessed constructive discussions and resolutions on critical issues, culminating in the approval of Shelter Afrique’s revised Company Statutes by its esteemed shareholders.

“This historic approval marks a significant milestone, paving the way for Shelter Afrique’s evolution into Shelter Afrique Development Bank (ShafDB).

“As a Development Finance Institution (DFI), ShafDB is poised to significantly enhance its financing capacity for affordable housing projects across Africa,” it stated.

He emphasised the importance of unity and collaboration among shareholders, underscoring their pivotal role in addressing Africa’s housing challenge.

Dangiwa also called for a renewed sense of purpose, dedication, and trust among shareholders to work collectively towards overcoming the housing deficit that has plagued the continent for decades