Shelter Afrique

The Board of Directors of the African Development Bank (AfDB) approved on Thursday, February 18, 2016 a US $8.2-million equity investment in Africa’s housing and habitat company, Shelter Afrique, to strengthen its balance sheet and help it achieve its objective of providing quality affordable housing in Africa. This marks an important step towards addressing the acute shortage of housing in most African countries, while creating jobs and enhancing income in Africa. The AfDB’s equity participation is part of an ongoing capital increase by Shelter Afrique’s shareholders. It will support Shelter Afrique to implement its revamped Strategic Plan which is focused on modeling Shelter Afrique as a Pan-African DFI with the capacity to respond to the growing demand for affordable housing and related infrastructure services. It will further enhance Shelter Afrique’s capital base and help solve Africa’s housing finance challenges.