This article is sponsored by ShelterAfrique

The three-day meeting will be held on the theme Sustainable Partnerships in the Affordable Housing Finance Value Chain from June 11 -13, 2024.

At the official opening of the meeting, Rwanda’s Prime Minister Edouard Ngirente said Africa faces a major challenge when it comes to urbanization and access to affordable housing. It is therefore necessary for citizens to have access to affordable housing to promote socio-economic development on the continent.

He emphasized the importance of housing finance and partnerships between government, private developers and financial institutions to address these challenges.

“By optimizing the partnership and effective collaboration, we can realize sustainable housing solutions together. Developers must therefore participate on the side of government in affordable housing projects to attract investors and provide affordable housing to citizens,” Mr Ngirente said.

Following his remarks, the new Chairman of the ShafDB AGM Bureau, Jimmy Gasore and Minister of Infrastructure of the Republic of Rwanda, said that sustainable partnerships in affordable housing finance in Africa are crucial to address the challenges of accessing affordable housing tackle in Africa.

He cited rapid urbanization, growing demography, substandard construction and lack of housing financing as major challenges in accessing affordable housing on the continent.

Mr Gesore emphasized the importance of joint efforts between public, private, civil society organizations and financial sector actors to address these challenges and ensure sustainable solutions for inclusive development.

The Managing Director of Shelter Afrique, Mr. Thierno-Habib Hann, emphasized the importance of collaboration and innovation in tackling Africa’s housing crisis, with a focus on sustainable development, financial stability and organizational stability.

“We are acutely aware of global and regional challenges, including demographic changes, economic uncertainties and climate change. However, these challenges also present us with opportunities to innovate, adapt and emerge stronger as the only Pan-African institution dedicated to financing the housing sector,” said Dr. Hann.

“Global institutions and development partners must play a role in supporting African housing development for a comprehensive approach to achieving strategic goals.”

ShafDB, he said, is committed to achieving financial sustainability through reorganization and strategic initiatives with a focus on scaling up affordable housing efforts through partnerships and innovation.

Moreover, he said the bank is transforming into a dynamic development bank to expand its operations and mobilize funds for climate-resilient housing projects and SMEs in the rural sector.

He discussed the development of an affordability index to assess the level of affordability for different countries and the importance of strengthening the institution’s capacity base by raising capital through shareholder contributions and expanding the shareholder base and capital growth.

The outgoing Chairman of the 42nd AGM Office for Shelter Afrique, Ahmed Dangiwa, Minister of Housing and Urban Development of the Federal Republic of Nigeria, expressed gratitude for the support in growing Africa’s growing housing finance institution.

He stressed the need for collective action among African countries to address housing issues, including affordable housing, sustainable economic growth and strategic planning.