Nigerian Minister for Works and Housing, Hon. Babatunde Raji Fashola met Shelter Afrique delegation in Abuja, led by the Company’s Board Chairman Dr. Chii Akporji and Managing Director & CEO Mr. Thierno-Habib Hann, ahead of Shelter Afrique Annual General Meeting which Nigeria will host in May.
Business Hilights recalls that Shelter-Afrique is the sole pan-African housing finance and development finance institution established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, and the African Re-Insurance Corporation.
The Institution’s mandate is to provide advisory and financing through debt, quasi-equity, and equity to public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers various products and related services to support the efficient delivery of affordable housing and related commercial & social infrastructure. These include project finance, lending to Financial Institutions, equity investments & joint ventures, SME & Trade Finance for housing, and Gender, Climate friendly Green/Resilient housing.
Shelter Afrique team appraised the Minister on the preparations for the Company’s 42nd AGM, which will be held in Abuja during the week of 8th to 11th May 2023.
According to Dr. Akporji, “Shelter Afrique is grateful to the Government of the Federal Republic of Nigeria through your Ministry for supporting the delivery of its mission of providing decent and affordable housing for all in Africa. We deeply appreciate the role Nigeria has played in safeguarding the organisation and the role you have played personally in being a vanguard and a voice of reason for the shareholders.”
“I’m glad to inform you that preparations for the 42nd AGM are on course as the invitations have already been sent out through your office and Shelter Afrique team is working on garnering the required quorum for a successful meeting,” Dr. Chii Akporji quipped.
Receiving the delegation, Hon. Fashola implored the board and management of Shelter Afrique to take a leading role in financing the provision of affordable housing in Africa based on impact. He also appealed to the board to strengthen and safeguard the organisation’s corporate governance credentials as it moved into a new phase.
He mentioned that as a major stakeholder, Nigeria will continue to hold Shelter Afrique to the highest standard of governance as this is critical in unlocking further investments into the organisation.
Key market
Mr. Hann said a strong mission to Nigeria shows the importance Shelter Afrique places in the Nigerian market, adding the country has a critical part to play in addressing the affordable housing crisis in Africa.
“Nigeria is one of the key markets for us. Besides being the second largest shareholder after Kenya, Nigeria has one of the biggest housing needs in Africa and we are certain that if we get it right with Nigeria, we shall have gotten it right with the entire continent,” Mr. Hann said.
The team also paid courtesy calls and held talks with several other stakeholders including representatives, Ministry of Finance, Budget and National Planning, Hon Zainab Ahmed, who reaffirmed Nigeria’s firm commitment to Shelter-Afrique as one of the largest shareholders.
Other key stakeholders the team met include management and representatives from the Nigeria Mortgage Refinance Company, Mixta Africa, Landmark Africa, Infracredit, Keystone Bank, Access Bank, Lekki Gardens, the African Development Bank, Wema Bank, The Real Estate Developers of Nigeria (REDAN), Family Home Funds, Modern Shelter, Nigerian Sovereign Investment Fund (NSIA), Chapel Hill Denham, UPDC, one of the largest Real Estate developers in Nigeria, Africa Finance Corporation, as well as the Deputy Governor of the Central Bank of Nigeria; Mrs. Aisha Ahmad.
“We have had great and successful working sessions with our partners and stakeholders in Nigeria and I believe this sets pace for the next phase of our engagements,” Mr. Hann concluded.
