Shelter Afrique Development Bank signed a Memorandum of Understanding (MOU) with the African Union (AU)
Shelter Afrique Development Bank (ShafDB) and the African Union (AU) have signed a Memorandum of Understanding (MOU) to collaborate on addressing Africa’s critical housing and urban development challenges.
The partnership which confers Shelter Afrique an Observer Status at the African Union, aligns with Agenda 2063 and underscores a shared commitment to ensuring a high standard of living, quality of life, and well-being for all African citizens.
The MOU would focus on collaboration in sustainable housing, addressing Africa’s housing deficit, capacity building, resource mobilization, policy development, and research. It aims to create resilient communities, reduce the housing gap, enhance skills, secure financial support, and advocate for housing policies at national and international levels.
With approximately 53 million housing units required across the continent and a $1.4 trillion financing gap, this partnership will leverage innovative solutions, resource mobilization, and policy development
The agreement also includes provisions for cooperation with AU sub-bodies such as AUDA-NEPAD and the African Union Peace Fund to harmonize efforts across the continent.
Operationalization of the MOU
To ensure effective implementation, ShafDB and the AU will develop a Joint Action Plan (JAP) outlining specific activities, timelines, and review mechanisms. The collaboration may also include staff secondment arrangements and supplementary agreements to address emerging areas of mutual concern.
Ambassador Albert Muchanga, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM) remarked: “We warmly welcome Shelter Afrique Development Bank as one of our strategic collaborators. Together, we shall enhance efforts to unlock Africa’s investable wealth and mobilize it towards meeting the continent’s housing deficit anchored on inclusive and sustainable urbanization.”
Speaking at the signing ceremony, Mr. Thierno-Habib Hann, Managing Director of ShafDB, said: “This MOU marks a significant step forward in our shared vision of sustainable housing and urban development in Africa. As a pan-African multilateral development bank focused on housing and urban development, we are confident that this collaboration with the African Union will scale our ability to create transformative solutions that address the housing deficit and enhance the quality of life for millions.”
