Over the past four decades, Shelter Afrique has financed several housing projects in Africa. Now, it has taken a new, major step, morphing into a development bank.
Pan-African finance institution Shelter Afrique is now a development bank. The Nairobi-based lender, rebranded Banque de développement Shelter Afrique (BDShaf), announced the change on October 12, a week after the approval of its new statutes
BDShaf will continue financing housing, urban planning, and related infrastructure development in Africa. It will also provide advice to support supply and demand in the African housing value chain.
“This transformation’s impact will manifest in concrete measures such as increased financing and construction of housing units, improved access to decent, sustainable and affordable housing,” said Thierno-Habib Hann (pictured), managing director of the former Shelter Afrique.
BDShaf will focus on raising the financing capacity of its shareholders. The latter regroups 44 African countries, the African Development Bank (AfDB), and the African Reinsurance Corporation. In the future, the new lender intends to extend its portfolio to sectors that are connected to the housing value chain, such as climate, Islamic finance, key infrastructure...
It is worth recalling that back in January 2023, Shelter Afrique unveiled its new 2023-2027 strategic plan; a plan that aimed to allow the institution to refocus on its core activities, restructure its organization in a way that better aligns with its ambitions for growth and innovation, and above all generate sustainable returns for its shareholders. Another point worth noting is that 2022 was rather difficult for Shelter Afrique. Indeed, last year, it lost $11.6 million, down 1217% on the overall profit of $1.04 million recorded in 2021.
Chamberline Moko
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...