This article was produced with support from Shelter African Development Bank.
The three-day conference will be held from June 11 to 13, 2024, with the theme “Sustainable Partnerships in the Affordable Housing Finance Value Chain.”
Opening the conference, Rwandan Prime Minister Edouard Nyrente said, “Africa faces major challenges of urbanization and access to affordable housing. Therefore, to foster the continent’s socio-economic development, our people need access to affordable housing.”
He emphasized the importance of housing finance and partnerships between governments, private developers and financial institutions to address these challenges.
“By optimizing partnerships and effective cooperation, we can jointly establish sustainable housing solutions. Therefore, developers must participate in affordable housing projects on the government side to attract investors and provide affordable housing to our citizens,” Nirente said.
His remarks were echoed by ShafDB’s incoming General Secretary Jimmy Gasore and the Minister of Infrastructure of the Republic of Rwanda, who said sustainable partnerships in affordable housing financing in Africa are key to addressing the challenges of access to affordable housing in Africa.
He cited rapid urbanization, population growth, substandard construction and lack of housing finance as major challenges to accessing affordable housing on the continent.
Mr. Gesore stressed the importance of public and private, civil society and financial sector stakeholders working together to address these challenges and ensure sustainable solutions to inclusive development.
Tierno Habib Khan, Managing Director of Shelter Afrik, emphasized the importance of cooperation and innovation to address Africa’s housing crisis, with a focus on sustainable development, financial stability and institutional stability.
“We are keenly aware of global and regional challenges such as demographic change, economic uncertainty and climate change. But these challenges also give us an opportunity to innovate, adapt and emerge stronger as the only pan-African institution dedicated to financing the housing sector,” said Dr Han.
“Global institutions and development partners should play a role in supporting housing development in Africa with a comprehensive approach to achieving strategic goals.”
He said ShafDB aims to achieve financial sustainability through restructuring and strategic initiatives focused on expanding its commitment to affordable housing through partnerships and innovation.
He further said that the bank is transforming into a dynamic development bank as it expands its operations and mobilizes finance for climate-resilient housing projects and small and medium-sized enterprises in the rural sector.
He discussed the development of affordability indices to assess the level of affordability in countries, and the importance of strengthening institutional capacity bases and increasing shareholder base and capital by raising capital through shareholder contributions.
The outgoing Secretary-General of the 42nd Shelter Africa Assembly, Mr. Ahmed Dangiwa, Minister of Housing and Urban Development of the Federal Republic of Nigeria, expressed his gratitude for the support given to Africa’s growing housing finance institutions.
He emphasized the need for African countries to act collectively to address housing issues, including affordable housing, sustainable economic growth and strategic planning.
