Shareholders to firm up Shelter Afrique’s transformation program at the 43rd AGM

By Ann Nyambura

Shelter Afrique Development Bank’s (ShafDB) 43rd Annual General Meeting (AGM) is scheduled to take place from 11-13 June 2024 in Kigali, Rwanda. The AGM is expected to consolidate the institution’s transformation agenda.

In a landmark decision at an Extraordinary General Meeting (EGM) held in October 2023 in Algiers, Algeria, shareholders approved the institution’s revised Articles of Association, elevating the pan-African housing and urban development finance institution into a dynamic development bank.

Speaking at a media briefing in Nairobi ahead of the AGM, Shelter Afrique development Bank Managing Director Thierno Habib Hann said this year’s AGM is crucial in redefining and redirecting the institution.

“This Year’s AGM will serve as an ushering step in solidifying Shelter Afrique Development Bank transformation journey,” Mr. Hann said.

The transformation will align Shelter Afrique with international standards, giving it a leading position among housing financiers and placing it on a par with comparable Development Finance Institutions (DFIs).

It will also enable the institution to expand its spheres of operation to include mobilization of funds for climate change resilient housing projects, initiatives in favour of home ownership by women and women working in the construction sector, as well as the financing of SMEs, trade in the real estate sector, migrants & refugees and diaspora housing projects, among other areas of interest.

“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 stated.

Affordable Housing Finance Value Chain

The AGM, under the theme: Sustainable Partnerships in the Affordable Housing Finance Value Chain, will bring together key stakeholders, including shareholders of it’s 44 Member States, it’s institutional shareholders -the African Development Bank, Africa-re, policymakers, financial institutions, and development partners, to discuss and strategize on advancing the affordable housing agenda in 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.