Housing Africa: Shareholders Approve Transformation of Shelter Afrique to Shelter Afrique Development Bank (ShafDB)……

Nigerian Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa , presiding over the Extraordinary Meeting of Shareholders of Shelter Afrique in Algiers, Algeria

…..As Nigerian Housing Minister, Dangiwa, assumes Chairmanship role

…..ShafDB aims to enhance financing capacity for affordable housing projects across Africa.

In a landmark achievement, the Honourable Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, and Chairman of the 42nd Shelter Afrique Annual General Meeting (AGM) Bureau, played a pivotal role in steering the successful transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB). The milestone was realized during the Extraordinary General Meeting (EGM) of Shelter Afrique held in Algiers, the capital of Algeria between 4th -5th of October, 2023.

Under the chairmanship of Arc. 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, ShafDB is poised to significantly enhance its financing capacity for affordable housing projects across Africa.

Arc Dangiwa commended the Board and Management of Shelfer Afrique for their dedication to the restructuring of the organization and also acknowledged the collective efforts invested in the monumental continental task. He also recognized the competent leadership of the Board Chairman, Dr. Chii Akporji, and Managing Director, Mr. Thierno-Habib Hann for the progress towards building pre-meeting shareholder consensus on knotty issues.

In his address, Architect Dangiwa emphasized the importance of unity and collaboration among shareholders, underscoring their pivotal role in addressing Africa’s housing challenge.

In addition to that, the Minister urged 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. “We must be humbled by the progress Shelter Afrique has made in over 40 years, and we must resolve to set aside all tolerable ancillary issues. It is our collective responsibility to fix Africa’s housing problem, and this requires sincerity of purpose, hard work, and trust,” Dangiwa stated.

The transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB) heralds a new era of accelerated progress, reflecting the organization’s commitment to addressing Africa’s housing challenges with renewed vigor and determination. Shelter Afrique Development Bank (ShafDB) is a leading Development Finance Institution dedicated to providing financing solutions for affordable housing projects across Africa focusing on collaboration, innovation, and sustainability, ShafDB aims to transform the housing sector and improve the lives of millions of people in Africa.

Salisu Haiba Badamasi
Deputy Director Information