Shelter Afrique Development Bank (ShafDB) and the African Union (AU) have signed a historic Memorandum of Understanding (MOU) to address Africa’s critical housing and urban development challenges.
This collaboration aligns with the African Union’s Agenda 2063, emphasizing a shared commitment to elevating the standard of living, quality of life, and well-being for African citizens. The agreement also grants ShafDB Observer Status at the African Union, bolstering its influence in shaping continental housing and urban development policies.
Addressing Africa’s Housing Crisis
Africa faces a staggering housing deficit of 53 million units, with a financing gap estimated at $1.4 trillion. The ShafDB-AU partnership seeks to bridge this gap through innovative solutions, robust resource mobilization, and effective policy development.
“This MOU marks a significant step forward in our shared vision of sustainable housing and urban development in Africa,” said Mr. Thierno-Habib Hann, Managing Director of ShafDB.
“Our collaboration with the African Union will amplify efforts to create transformative solutions, addressing the housing deficit and enhancing the quality of life for millions.”
Key Areas of Collaboration
The partnership outlines several strategic priorities, including:
- Sustainable Housing Development: Joint initiatives to support environmentally sustainable, climate-resilient communities.
- Reducing the Housing Deficit: Development of actionable strategies to address Africa’s housing gap.
- Capacity Building: Training for policymakers, developers, and stakeholders in urban and housing sectors.
- Resource Mobilization: Coordinated efforts to secure financial and technical resources through partnerships with regional and international financial institutions.
- Policy Advocacy: Crafting and promoting policies that elevate housing and urban issues on global agendas.
- Research and Innovation: Collaborative research, data collection, and adoption of cutting-edge technologies in housing and urban planning.
- Environmental Sustainability: Enhancing climate resilience in housing and urban infrastructure.
Ambassador Albert Muchanga, AU Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals, stated,
“We warmly welcome Shelter Afrique Development Bank as one of our strategic collaborators. Together, we shall unlock Africa’s investable wealth and direct it towards addressing the continent’s housing challenges through inclusive and sustainable urbanization.”
To ensure the MOU’s effective implementation, ShafDB and the AU will develop a Joint Action Plan (JAP), detailing specific activities, timelines, and review mechanisms. The agreement also includes potential staff exchanges and supplementary agreements to adapt to emerging challenges.
With Africa’s urban population expected to grow exponentially, the ShafDB-AU alliance positions the continent to tackle its housing crisis head-on while promoting inclusive and sustainable urbanization.
