By Faridah Salifu
In a bid to address the housing deficit and rejuvenate abandoned projects nationwide, Shelter Afrique and the Federal Mortgage Bank of Nigeria (FMBN) have joined forces in a strategic partnership.
The collaboration, unveiled during a recent courtesy visit by a delegation from Shelter Afrique Development Bank (ShafDB) to the new management of FMBN, underscores a shared commitment to bolstering the housing and real estate sector in Africa.
Mr. Thiemo-Habib Hann, Managing Director of Shelter Afrique Development Bank, emphasized the institution’s focus on affordable housing and urban development across the continent.
He expressed readiness to collaborate with FMBN and other Nigerian institutions to tackle housing challenges effectively. Hann highlighted the sector’s potential to generate employment opportunities and address security concerns nationwide.
With Nigeria as the second-largest shareholder in Shelter Afrique, holding 15.2% of shares valued at $220 million, the partnership aims to deepen collaboration and support Nigeria’s Renewed Hope Agenda in housing. Areas of exploration include infrastructural financing, project finance, public-private partnerships, and fund management.
Mr. Shehu Osidi, MD of FMBN, expressed optimism about the partnership’s potential to revamp abandoned estates across the country. He cited Shelter Afrique’s infrastructural financing as a viable funding option for estate rejuvenation efforts.
Dr. Akinola Olakunle, representing the Federal Ministry of Housing and Urban Development, commended Shelter Afrique’s long-standing investments in Nigeria’s housing sector, totaling approximately $220.5 million. He emphasized the bank’s role in helping Nigeria realize its renewed hope cities through leveraging construction finance.
Dr. Chika Akporji, Chairperson of Shelter Afrique’s Board of Directors, underscored the importance of identifying collaboration areas for effective partnership between the two institutions.
Established in 1982 by 44 African countries, Shelter Afrique has a mandate to finance affordable housing projects across the continent, positioning itself as a key.
