Shelter Afrique Set to Transform into Dynamic Development Bank at 43rd Annual General Meeting

Shelter Afrique Development Bank is set to undergo a significant transformation during its 43rd Annual General Meeting (AGM) in Kigali, Rwanda, from June 11-13. Shareholders are expected to consolidate the institution’s transformation agenda, transitioning it into a Dynamic Development Bank. This decision follows the approval of revised Articles of Association at an Extraordinary General Meeting (EGM) in Algiers, Algeria, in October 2023.

Managing Director Thierno Habib Hann emphasized the importance of this year’s AGM in redefining and redirecting Shelter Afrique. The transformation aims to align the institution with international standards, elevating its status among housing financiers and comparable Development Finance Institutions (DFIs). Hann highlighted the expanded scope of operations, including mobilization of funds for climate change resilient housing projects, initiatives promoting home ownership by women and those in the construction sector, SME financing, real estate trade, and housing projects for migrants, refugees, and the diaspora.

The transformation is expected to result in tangible outcomes such as increased financing and construction of housing units, as well as improved access to decent, sustainable, and affordable housing. Hann emphasized the positive impact this shift will have on addressing housing challenges across Africa and fostering inclusive economic development.

Source: The Sun