ShafDB, AU Sign MOU to Advance Housing, Urban Development in Africa

Shelter Afrique Development Bank (ShafDB) and the African Union (AU) have signed a groundbreaking Memorandum of Understanding (MOU) to collaborate on addressing Africa’s critical housing and urban development challenges.

The partnership which confers Shelter Afrique an Observer Status at the African Union, aligns with Agenda 2063 and underscores a shared commitment to ensuring a high standard of living, quality of life, and well-being for all African citizens.

The MOU outlines key areas of cooperation aimed at tackling Africa’s housing deficit, promoting sustainable urban development, and advancing capacity-building efforts.

With approximately 53 million housing units required across the continent and a $1.4 trillion financing gap, this partnership will leverage innovative solutions, resource mobilization, and policy development to create lasting impact. 

AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM), Ambassador Albert Muchanga,  remarked: “We warmly welcome Shelter Afrique Development Bank as one of our strategic collaborators. Together, we shall enhance efforts to unlock Africa’s investable wealth and mobilize it towards meeting the continent’s housing deficit anchored on inclusive and sustainable urbanization.”

Speaking at the signing ceremony, Managing Director of ShafDB, Mr. Thierno-Habib Hann, said: “This MOU marks a significant step forward in our shared vision of sustainable housing and urban development in Africa. As a pan-African multilateral development bank focused on housing and urban development, we are confident that this collaboration with the African Union will scale our ability to create transformative solutions that address the housing deficit and enhance the quality of life for millions.”