By Perpetua Onuegbu, NAN.
The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, and Chairman of the 42nd Shelter Afrique Annual General Meeting (AGM) Bureau, and other shareholders has approved the transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB).
Mr Salisu Badamasi, Deputy Director Information, FMHUD made this known on Monday in Abuja.
According to Badamasi this happened during the Extraordinary General Meeting (EGM) of Shelter Afrique held in Algiers, the capital of Algeria.
Under the chairmanship of 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.
As a Development Finance Institution, ShafDB is poised to significantly enhance its financing capacity for affordable housing projects across Africa.
Dangiwa, commended the Board and Management of Shelfer Afrique for their dedication to the restructuring of the organization and also acknowledged the collective efforts invested in the monumental continental task.
He also recognised the competent leadership of the Board Chairman, Dr Chii Akporji, and Managing Director, Mr Thierno-Habib Hann for the progress toward building pre-meeting sharerholders consensus on knotty issues.
In his address, Dangiwa emphasised the importance of unity and collaboration among shareholders, underscoring their pivotal role in addressing Africa’s housing challenge.
The Minister advocated for a renewed sense of purpose, dedication, and trust among shareholders to work collectively toward 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,” Dangiwa said.
He added that the transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB) heralded a new era of accelerated progress, reflecting the organization’s commitment to addressing Africa’s housing challenges with renewed vigor and determination.
The deputy director of publicity explained that 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.
“It also aims to enhance financing capacity for affordable housing projects across Africa.” Badamasi stated.(NAN)