By Maduka Nweke
Shareholders of Shelter Afrique Development Bank are expected to consolidate the institution’s transformation agenda and metamorphose into a Dynamic Development Bank, during its 43rd Annual General Meeting (AGM), scheduled to hold from June 11-13 in Kigali, Rwanda.
In a landmark decision at an Extraordinary General Meeting (EGM) held in October 2023 in Algiers, Algeria, shareholders approved the institution’s revised Articles of Association, elevating the pan-African housing and urban development finance institution into a dynamic development bank.
Speaking ahead of the AGM, Shelter Afrique development Bank Managing Director Thierno Habib Hann said this year’s AGM is crucial in redefining and redirecting the institution as it ushers in a new phase. “This Year’s AGM will serve as an ushering step in firming up Shelter Afrique Development Bank’s transformation journey,” Mr. Hann said. The transformation will align Shelter Afrique with international standards, giving it a leading position among housing financiers and placing it on a par with comparable Development Finance Institutions (DFIs).” Mr. Hann stated.
He further noted that the transformation would enable the institution expand its operation to include mobilization of funds for climate change resilient housing projects, initiatives in favour of home ownership by women and women working in the construction sector, as well as the financing of SMEs, trade in the real estate sector, migrants & refugees and diaspora housing projects, among other areas of interest.
“The impact of this transformation will be seen in concrete measures such as increased financing and construction of housing units, and improved access to decent, sustainable and affordable housing,” Mr. Hann stated.