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Shelter Afrique shareholders approve transformation to a bank

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Shelter Afrique will now be a dynamic development bank after shareholders approved revised statutes to transform the bank from a housing and urban development financier.

The decision by the shareholders during the Extraordinary General Meeting (EGM) in Algiers, Algeria now means the Shelter Afrique Development Bank (ShafDB) will generate and maintain robust positive financial returns by posting and monitoring key performance indicators on liquidity, profitability, asset quality, efficiency, and productivity.

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According to ShafDB Managing Director, Thierno-Habib Hann, the bank will also aim to expand its portfolio offering to include thematic areas across the housing value-chain, such as Green/Climate/Resilience, Gender, Jobs (SMEs/Trade), Trunk Infrastructure, Islamic finance, IDPs (Migrants/Refugees), and Diaspora, all which will be achieved via specialized funds in the Asset Management business.

“The impact of this transformation will be evident through concrete metrics such as increased housing unit financing and construction, improved access to decent, sustainable and affordable housing and positions SHAFDB progressive path towards the execution of our strategic plan (‘’The New Dawn’’)’’ he said.

The transformation is also expected to solidify the financier’s status as a transformative and sustainable development bank solely dedicated to advancing urban housing and related infrastructure development across Africa.

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