Shelter Afrique Development Bank addresses Africa’s US$1.4 trillion housing gap with tailored financing like green bonds, diaspora financing, and climate-resilient housing, impacting millions.
In October 2023, a defining moment unfolded for Shelter Afrique. The institution, long recognized as a cornerstone in African housing finance, transformed into the Shelter Afrique Development Bank (ShafDB), a transition ratified at the Extraordinary General Meeting in Algiers. Under the visionary leadership of CEO Thierno-Habib Hann, this transformation was more than a rebranding—it was a rebirth, equipping ShafDB with the governance and tools necessary to tackle Africa’s housing deficits head-on. “Our transition represents a paradigm shift, equipping us with the tools and governance necessary to tackle housing deficits across Africa,” Hann reflects.
The past year has marked a period of remarkable transformation for ShafDB. Achieving profitability in 2023 after a challenging financial period was a significant milestone, highlighting the institution’s renewed strength and commitment to economic sustainability. This success was accompanied by recognition from the African Union and UN–Habitat’s inaugural African Urban Forum which designated ShafDB as the anchor resource mobilization partner for housing and urban development, solidifying its pivotal role in shaping Africa’s housing future. Furthermore, ShafDB was honored with the “Pan-African Development Bank Leadership Award – A Pioneer in Housing Finance” at the 40th Annual African Union for Housing Finance Awards Gala, a testament to its 42-year legacy in advancing sustainable housing across the continent.
“Our Pan-African mandate allows us to tackle Africa’s housing deficit head-on, leveraging partnerships and cutting-edge technologies to meet this critical need.”
As ShafDB looks to the future, it is clear that the journey is only just beginning. The rebranding process, which symbolizes the organization’s broadened vision, will culminate with launching a bold new visual identity in 2025. Hann sees this evolution as a reflection of the bank’s strategic priorities: enhancing housing impact by providing affordable housing finance solutions and technical assistance, ensuring financial sustainability through profitability and robust asset management, and strengthening organizational governance to support its growing mandate. These goals align with Africa’s immense challenges, where over 53 million housing units are needed—requiring an estimated US$1.4 trillion to bridge the gap. With urbanization projected to double the continent’s urban population by 2050, ShafDB is uniquely positioned to address these pressing needs.
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ShafDB is leveraging innovation and partnerships to scale its impact to achieve its ambitious vision. Engaging the African diaspora to mobilize remittances for housing projects and embracing digital financing platforms are key strategies that reflect the bank’s forward-thinking approach. “Technology and diaspora contributions are game-changers, enabling us to scale
solutions effectively,” Hann notes. By working closely with governments, communities, and multilateral organizations, the bank ensures its projects align with local socio-economic realities while adhering to international standards.
The commitment to excellence extends to ShafDB’s internal operations, where global experts are brought on board to enhance governance and develop transformative solutions. These efforts have resulted in projects that improve living conditions, create resilient urban environments, and drive economic opportunities. Hann succinctly captures this mission’s essence: “We’re not just financing houses; we’re building futures for Africans.”
As ShafDB moves forward, it is strengthening partnerships with institutions such as the Arab Bank for Economic Development in Africa (BADEA), the African Development Bank Group (AfDB), and Afreximbank to expand its reach and mobilize additional resources. Hann emphasizes the importance of this collaborative approach: “Our journey is one of continuous adaptation and collaboration, ensuring we meet the evolving needs of the continent.”
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