ShafPress

AAMFI will reshape Africa’s economic path, Shelter Afrique says

ADDIS ABABA, 22 February 2024:  Shelter Afrique Development Bank (ShafDB), a leading Pan-African institution committed to financing and advancing housing, urban, and related infrastructure development, has termed the formation of the Alliance of African Multilateral Financial Institutions (AAMFI) a ‘bold step in the right direction’, noting the move now places Africa in the best position to address its myriads of economic challenges and reshape its economic path.

At the Africa Union 37th Assembly of the African Heads of State and Government and Heads of African Multilateral financial institutions, in Addis Ababa, Ethiopia, where the Alliance was unveiled, Shelter Afrique Development Bank Managing Director & Chief Executive Officer Mr. Thierno Habib Hann said Africa has unique developmental challenges that require home-grown solutions to be effectively addressed.

“Shelter Afrique Development Bank is thrilled to be a founding member of AAMFI, a pivotal step in becoming a strategic negotiating force within Africa’s evolving financial landscape. This milestone presents an opportunity to address Africa’s distinctive economic hurdles. With AAMFI, we envision Africa reshaping its economic path; and for ShafDB it will be in the space of housing and urban development,” remarked Mr. Hann. Mr. Hann said.

AAFMI, which Shelter Afrique Development Bank co-founded alongside the African Export Import Bank, Trade and Development Bank, Africa Finance Corporation, African Reinsurance Corporation, African Trade and Investment Development Insurance, and ZEP-RE PTA Reinsurance Co, is envisaged to become a powerful negotiating body that will improve Africa’s position in the global financial system. In addition to the six co-founders, its membership is also open to all other institutions established under treaty agreements by African states.

African-owned

The Alliance, which is also known as the Africa Club, is an alliance of treaty-based African-owned and controlled Multilateral Financial Institutions. Its mandates include addressing Africa’s development finance needs, promoting the interests of member states, advocating for Africa on global finance issues, developing innovative finance tools, supporting sustainable finance strategies and coordinating debt management negotiations.

In his address at the launch, the African Union Champion for African Union Financial Institutions, His Excellency Nana Akufo-Addo, the President of Ghana, underscored the significance of the Africa Club in driving Africa’s economic transformation.

“The establishment of the Africa Club signifies our collective commitment to surmount financial challenges and propel Africa towards sustainable development. Together, we will harness our strengths and resources to unlock the continent’s boundless potential.” President Akufo-Addo said.

The President also noted that Africa Union was fast-tracking the establishment of African Union Financial Institutions (AUFI), which will include the African Central Bank, the African Monetary Fund, the African Investment Bank, and the Pan-African Stock Exchange.

“The African Central Bank, the African Monetary Fund, the African Investment Bank and the Pan-African Stock Exchange are critical institutions that will support the continent’s socio-economic Transformation. These institutions are needed more than ever to strategically insert the continent in the global financial landscape not as a beggar of resources but, a self-sustained financed continent that leads its transformation with appropriate domestic resources,” the President said.

Notes to Editor                             

 About Shelter-Afrique Development Bank

Shelter Afrique Development Bank 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).

Shelter Afrique Development Bank 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.

Alliance of African Multilateral Financial Institutions – AAMFI

The Alliance of African Multilateral Financial Institutions (Africa Club) seeks to address the specific needs of African sovereigns and facilitate their access to essential financing mechanisms as Africa embarks on a journey towards prosperity and self-sufficiency.

Leveraging the expertise and resources of its member institutions, the Africa Club is poised to catalyze growth across various sectors, including infrastructure, trade, and investment and to redefine the continent’s financial landscape, ushering in a new era of inclusive and sustainable development.

For more information, please visit  http://www.shelterafrique.org/

Follow Shelter Afrique on Twitter, LinkedIn and Facebook

For further enquiries, please contact:

Communications Team | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Tel: +254 20 4978000 | Email: info@shelterafrique.org|

Or

Mike Omuodo | Media Fast PR| Tel: +254 736 014 596| Email: mike.omuodo@mediafast.co.ke|

 

 

Shelter Afrique delegation meet Nigeria’s Housing Minister ahead of AGM

1. 1. Company’s 42^nd Annual General Meeting will be held in Abuja during the week of 8^th to 11^th May 2023.

Abuja, Nigeria – 15 February, 2023:  Shelter Afrique delegation led by the Board Chairman Dr. Chii Akporji and Managing Director & CEO Mr. Thierno-Habib Hann held a five-day working tour of the Nigerian market where the team held talks with several stakeholders, among them, the Hon. Minister for Works and Housing, Babatunde Raji Fashola.

The team appraised Hon. Fashola on the preparations for the Company’s 42^nd AGM, which will be held in Abuja, Nigeria during the week of 8^th to 11^th May 2023.

“Shelter Afrique is grateful to the Government of the Federal Republic of Nigeria through your Ministry for supporting the delivery of its mission of providing decent and affordable housing for all in Africa. We deeply appreciate the role Nigeria has played in safeguarding the organisation and the role you have played personally in being a vanguard and a voice of reason for the shareholders,” Dr Akporji said.  

“I’m glad to inform you that preparations for the 42^nd AGM are on course as the invitations have already been sent out through your office and Shelter Afrique team is working on garnering the required quorum for a successful meeting,” Dr. Chii Akporji quipped. 

Receiving the delegation, Hon. Fashola implored the board and management of Shelter Afrique to take a leading role in financing the provision of affordable housing in Africa based on impact.  He also appealed to the board to strengthen and safeguard the organisation’s corporate governance credentials as it moved into a new phase.

He mentioned that as a major stakeholder, Nigeria will continue to hold Shelter Afrique to the highest standard of governance as this is critical in unlocking further investments into the organisation.

Key market

Mr. Hann said a strong mission to Nigeria shows the importance Shelter Afrique places in the Nigerian market, adding the country has a critical part to play in addressing affordable housing crisis in Africa. 

“Nigeria is one of the key market for us. Besides being the second largest shareholder after Kenya, Nigeria has one of the biggest housing needs in Africa and we are certain that if we get it right with Nigeria, we shall have gotten it right with the entire continent,” Mr. Hann said.  

The team also paid courtesy calls and held talks with several other stakeholders including representatives, Ministry of Finance, Budget and National Planning, Hon Zainab Ahmed, who reaffirmed Nigeria’s firm commitment to Shelter-Afrique as one of the largest shareholders.

Other key stakeholders the team met include management and representatives from the Nigeria Mortgage Refinance Company, Mixta Africa, Landmark Africa, Infracredit, Keystone Bank, Access Bank, Lekki Gardens, the African Development Bank, Wema Bank, The Real Estate Developers of

Nigeria (REDAN), Family Home Funds, Modern Shelter, Nigerian Sovereign Investment Fund (NSIA), Chapel Hill Denham, UPDC, one of the largest Real Estate developers in Nigeria, Africa Finance Corporation, as well as the Deputy Governor of the Central Bank of Nigeria; Mrs. Aisha Ahmad.

“We have had great and successful working sessions with our partners and stakeholders in Nigeria and I believe this sets pace for next phase of our engagements,” Mr.  Hann concluded. 

Notes to Editor                             

 Shelter Afrique

Shelter-Afrique is the sole pan-African housing finance and development finance institution established by African governments to

address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, and the African Re-Insurance Corporation.

The Institution’s mandate is to provide advisory and financing through debt, quasi-equity, and equity to public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers various products and related services to support the efficient delivery of affordable housing and related commercial & social infrastructure. These include project finance, lending to Financial Institutions, equity investments & joint ventures, SME & Trade Finance for housing, and Gender, Climate friendly Green/Resilient housing.

The Institution offers practical advice and technical assistance to a wide range of industry stakeholders.

For more information, please visit  http://www.shelterafrique.org/

Follow Shelter Afrique on Twitter, LinkedIn and Facebook

For further enquiries, please contact:

Babatunde Oyateru | Communications Manager | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Tel: +254 20 4978000 | Email: boyateru@shelterafrique.org|

Or

Mike Omuodo | Media Fast PR| Tel: +254 736 014 596| Email: mike.omuodo@mediafast.co.ke|