Dangiwa Successfully Steers Shareholder Approval for Transformation of Shelter Afrique to Shelter Afrique Development Bank

In a landmark achievement, the Hon. Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, and Chairman of the 42nd Shelter Afrique Annual General Meeting (AGM) Bureau, played a pivotal role in steering the successful transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB). The milestone was realized during the Extraordinary General Meeting (EGM) held in Algiers, the capital of Algeria, on October 4-5, 2023.
Under the chairmanship Arc. Dangiwa, the EGM witnessed constructive discussions and resolutions on critical issues, culminating in the approval of Shelter Afrique's revised Company Statutes by its esteemed shareholders. This historic approval marks a significant milestone, paving the way for Shelter Afrique’s evolution into Shelter Afrique Development Bank (ShafDB). As a Development Finance Institution, ShafDB is poised to significantly enhance its financing capacity for affordable housing projects across Africa.

Arc. Dangiwa, presiding over the meeting, commended Shelter Afrique's Board and Management for their dedication to the organization’s restructuring. He acknowledged the collective efforts invested in this monumental continental task, recognizing the progress towards building pre-meeting sharerholder consensus on knotty issues by the competent leadership of Board Chairman, Dr. Chii Akporji, and Managing Director, Mr. Thierno-Habib Hann.

In his address, Architect Dangiwa emphasized the importance of unity and collaboration among shareholders, underscoring their pivotal role in addressing Africa's housing challenge. He urged for a renewed sense of purpose, dedication, and trust among shareholders to work collectively towards overcoming the housing deficit that has plagued the continent for decades.

“We must be humbled by the progress Shelter Afrique has made in over 40 years, and we must resolve to set aside all tolerable ancillary issues. It is our collective responsibility to fix Africa’s housing problem, and this requires sincerity of purpose, hard work, and trust,” Architect Dangiwa stated.

The transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB) heralds a new era of accelerated progress, reflecting the organization’s commitment to addressing Africa's housing challenges with renewed vigor and determination.

About Shelter Afrique Development Bank:

Shelter Afrique Development Bank (ShafDB) is a leading Development Finance Institution dedicated to providing financing solutions for affordable housing projects across Africa. With a focus on collaboration, innovation, and sustainability, ShafDB aims to transform the housing sector and improve the lives of millions of people in Africa.

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