Shelter Afrique's DB Managing Director Thierno Habib Hann addressing the media at their headquarters in Nairobi
By Cynthia Masibo and Aoma Keziah,
Shelter Afrique Development Bank (ShafDB) is poised to mark a pivotal moment in its evolution at the 43rd Annual General Meeting (AGM) scheduled from June 11-13, 2024, in Kigali, Rwanda. This AGM is anticipated to cement the institution’s transformation into a dynamic development bank, a journey that began with a significant decision at the Extraordinary General Meeting (EGM) in October 2023 in Algiers, Algeria. There, shareholders approved revised Articles of Association, setting the stage for Shelter Afrique’s elevation into a premier pan-African housing and urban development finance institution.
In a recent media briefing in Nairobi, ShafDB Managing Director Thierno Habib Hann emphasized the AGM’s critical role in redefining the institution’s strategic direction. “This year’s AGM will serve as an ushering step in solidifying Shelter Afrique Development Bank’s transformation journey,” Mr. Hann stated.
Alignment with International Standards
The transformation is set to align Shelter Afrique with international standards, positioning it among leading housing financiers and comparable Development Finance Institutions (DFIs). This alignment is not merely cosmetic but strategic, intended to enhance the bank’s capacity to mobilize funds for innovative projects. These projects will include climate change-resilient housing, initiatives promoting home ownership for women, support for women in the construction sector, and financing for SMEs involved in real estate. Additionally, the institution aims to address housing needs for migrants, refugees, and the diaspora, broadening its impact across diverse segments.
“The impact of this transformation will be seen in concrete measures such as increased financing and construction of housing units, and improved access to decent, sustainable, and affordable housing,” Mr. Hann remarked.
A Holistic Approach to Housing
The AGM, themed “Sustainable Partnerships in the Affordable Housing Finance Value Chain,” will convene key stakeholders including shareholders from the 44 member states, institutional shareholders like the African Development Bank and Africa Re, policymakers, financial institutions, and development partners. This assembly aims to strategize on advancing affordable housing across Africa.
“This year’s theme is important because the housing sector in Africa is intricately linked to partnerships in the region, influenced by various stakeholders throughout the housing value chain. Understanding these dynamics is essential for addressing the challenges and opportunities in providing affordable and sustainable housing for all,” Mr. Hann concluded.
Key Focus Areas
Shelter Afrique’s transformation focuses on several critical areas:
Climate-Resilient Housing Projects: By prioritizing climate-resilient housing, Shelter Afrique aims to address the pressing issue of climate change and its impact on housing stability and sustainability.
Women’s Home Ownership and Employment: Initiatives are tailored to promote home ownership among women and support women working in the construction sector, fostering gender equality and economic empowerment.
Financing for SMEs and Real Estate Trade: The institution plans to provide targeted financing for small and medium enterprises in the real estate sector, facilitating growth and innovation in housing solutions.
Support for Migrants, Refugees, and Diaspora Housing: Recognizing the unique housing challenges faced by migrants, refugees, and diaspora communities, Shelter Afrique is committed to developing projects that cater to these groups.
Concrete Outcomes
The anticipated outcomes of this transformation are substantial. Increased financing is expected to lead to a significant boost in the construction of housing units, thereby improving access to affordable housing. These efforts align with broader goals of sustainable urban development and economic growth across the continent.
Conclusion
The 43rd AGM of Shelter Afrique Development Bank in Kigali is more than a meeting; it is a milestone in the institution’s journey towards becoming a leading force in housing finance and urban development in Africa. By consolidating its transformation agenda, Shelter Afrique is set to play a crucial role in addressing the housing deficit and promoting sustainable development across the continent.
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