Finance

Shelter Afrique morphs into a development bank focused on urbanism and infrastructure

Shelter Afrique morphs into a development bank focused on urbanism and infrastructure
Thursday, 12 October 2023 19:11

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

On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.