In a momentous development, the 42nd Shelter Afrique Annual General Meeting (AGM) Bureau, held in Algiers between October 4-5, 2023, has overwhelmingly endorsed the transformation of Shelter Afrique into the Shelter Afrique Development Bank (ShafDB).
According to Deputy Director Information Salisu Haiba Badamasi, this landmark achievement was presided over by the Honourable Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, who assumed the Chairmanship role during the AGM.
The conversion of Shelter Afrique into ShafDB represents a significant step forward in addressing Africa’s housing challenges by bolstering financing capacity for affordable housing projects across the continent.
Under the able leadership of Architect Dangiwa, the Extraordinary General Meeting (EGM) convened in Algiers witnessed productive deliberations and the eventual approval of Shelter Afrique’s revised Company Statutes by its esteemed shareholders. This crucial decision paves the way for the institution’s transformation into Shelter Afrique Development Bank (ShafDB).
As a Development Finance Institution, ShafDB is poised to play a pivotal role in enhancing its financing capabilities to support affordable housing initiatives throughout Africa. Architect Dangiwa commended the dedication and collaborative efforts of Shelter Afrique’s Board and Management in steering this monumental transformation.
In his address to shareholders, Architect Dangiwa underscored the importance of unity and collaboration among stakeholders, emphasizing their essential role in tackling Africa’s longstanding housing deficit. He urged for renewed purpose, dedication, and trust among shareholders to collectively address the housing challenge that has persisted on the continent for decades.
“We must acknowledge the strides Shelter Afrique has made over the past 40 years and resolve to set aside any manageable differences. It is our collective responsibility to address Africa’s housing problem, and this requires sincerity of purpose, hard work, and trust,” Architect Dangiwa emphasized.
The conversion of Shelter Afrique into Shelter Afrique Development Bank (ShafDB) marks a new chapter of accelerated progress, reflecting the organization’s unwavering 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. With a focus on collaboration, innovation, and sustainability, ShafDB aims to transform the housing sector and improve the lives of millions of people in Africa.
