Shelter Afrique assures Nigeria of more collaboration on housing delivery

…pledges support for national social housing fund, resettlement scheme

Shelter Afrique Development Bank (ShafDB) has assured Nigeria that it is looking for more ways to collaborate with its government on housing delivery, adding that it is also exploring more areas of entry into the country’s housing market so as to support her effort to bridge its housing deficit.

Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa, believing that as it builds houses, it builds families and nations, taking all that as its commitment to the people of Africa.

The bank’s intentions were disclosed by Thierno-Habib Hann, the Managing Director and Chief Executive Officer, who was part of a delegation of the bank’s leadership led by its Board Chairperson, Chii Akporji, that came on a working visit to Nigeria recently.

At their meeting with Vice President Kashim Shettima, Hann expressed the bank’s interest in the PULAAKU Resettlement Scheme of the Federal Government, which aims to provide shelter for displaced Nigerians affected by banditry in selected states across the country.

He added that the bank was also interested in playing a part in the National Social Housing Fund (NSHF), saying that the bank looks to improve upon its $220 million worth of housing loans already approved in Nigeria with $117.6 million disbursed.

“We are looking for more ways to collaborate with Nigeria on housing delivery. We believe the PULAAKU Initiative and the National Social Housing Fund provide us an opportunity to further drive our mandate, which is to eradicate slums in Africa. We have done a lot of work already with several financial institutions, reputable developers, and some state governments, and we intend to do more.

“Since October 2023, the bank has undergone major transformations, thanks to the leadership of the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, who is the Chairperson of the institution’s 42nd AGM Bureau. We are better positioned to create wealth, increase GDP, and address security through our housing finance model, he assured.

Hann added that ShafDB was a tool for member-countries to drive their housing programmes, urging governments to strengthen the bank by keeping their shareholding commitments.

The Vice President commended ShafDB’s efforts at moving Africa forward, saying that he was aware that the bank had already deployed more than what Nigeria has in paid-up capital towards the financing of housing projects in the country.

“ShafDB is in a position to drive change in Africa, and I align myself with the aspiration of the Minister of Housing and Urban Development that the capital subscription arrears be paid.

The Minister expressed Nigeria’s readiness to support ShafDB’s growth, commending it for its visionary approach to housing delivery and noting that the bank would reach heights with the current institutional framework and experienced leadership.

The delegation also met with the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who promised to support Nigeria’s efforts to clear the outstanding share capital subscription.

The Governor was pleased with the bank’s contribution to continental development and its range of products that cut across the entire housing value chain. He acknowledged the role the housing sector plays in the development agenda of the current administration.

Part of the reasons for bank’s week-long visit to Nigeria was to urge the Nigerian government to clear its outstanding capital subscription, as well as express the bank’s commitment to improve on its $220 million worth of housing loans already approved in Nigeria with $117.6 million approved and disbursed, among other things.

Nigeria’s 15.22 percent of the company’s issued shares makes it the second-largest shareholder after Kenya with 16.25 percent.