Shareholders to firm up Shelter Afrique’s transformation Programme at 43rd AGM
*The Annual General Meeting (AGM) will serve as an ushering step in solidifying Shelter Afrique transformation journey
Shelter Afrique Development Bank’s (ShafDB) 43rd Annual General Meeting (AGM) scheduled to take place from 11-13 June 2024 in Kigali, Rwanda 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.
A statement by Mike Omuodo of Media Fast PR Firm, made available to this medium today, quoted the Managing Director of the Pan- African development bank, Thierno Habib Hann, at media briefing in Nairobi ahead of the AGM, saying that 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 in the statement.
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 our 44 Member States, our 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.
About Shelter-Afrique Development Bank:
Shelter Afrique Development Bank is a Pan-African institution solely dedicated to financing and promoting housing, urban & related infrastructure development across the African continent. ShafDB operates through a partnership involving 44 African Governments, as well as the African Development Bank (AfDB) and the Africa Reinsurance Corporation (Africa-Re) as shareholders.
Shelter Afrique Development Bank delivers financial solutions and associated services that support both the supply and demand aspects of the affordable housing value chain. As a premier provider of financial, advisory, and research solutions, ShafDB focuses on addressing Africa’s housing crisis through financial institutions, project finance and public-private partnerships, striving to achieve sustainable developmental impact.
