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Shelter Afrique Becomes Development Bank

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Shelter Afrique Delegates at the EGM

In a historic move that promises to reshape the landscape of African housing and urban development, Shelter Afrique Shareholders have approved revised Statutes to elevate the pan-African housing and urban development financier into a dynamic Development Bank during the Extraordinary General Meeting (EGM) in Algiers, Algeria. This transformative effort, spearheaded by a reputable international law firm under the guidance of the Board of Directors, is the culmination of numerous bilateral and multilateral reviews, leading to a broad consensus among Shareholders on key amendments in the Company’s revised Statutes. This sets the stage for a renewed, innovative, and impactful Shelter Afrique.

Highlighting the importance of this gathering as a turning point in the continent’s housing development financing, His Excellency Aymen Benabderrahmane, Prime Minister of the People’s Democratic Republic of Algeria, inaugurated the opening ceremony. He was joined by four Cabinet Ministers of Finance, Trade and Export Promotion, Infrastructure, and Minister of Housing, Urbanism and the City.

Gathering under the inspiring theme of “Transforming Shelter Afrique into a Development Bank for Sustainable Affordable Housing and Urban Development in Africa,” visionary leaders united for this momentous event. They were graciously hosted by His Excellency Mohamed Tarek Belaribi, Minister of Housing, Urbanism and the City of the People’s Democratic Republic of Algeria. Nigeria’s newly appointed Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, presided over the deliberations as the Chair of the General Assembly Bureau. The vote of thanks was provided by the first Vice-President of the General Assembly Bureau, represented by Mr. Edward Kyazze from the Rwanda Ministry of Infrastructure, Urbanization & Housing Department.

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In his opening address, H.E. Arc. Dangiwa emphasized the significance of the 2023 EGM and its role in shaping Shelter Afrique’s future. He commended the company’s leadership, recognizing the remarkable work of the Board and Management Team in navigating the organization toward growth, profitability, and a more substantial impact on housing development across the continent.

The Board Chair, Dr Chii Akporji, expressed her gratitude, stating, “Our heartfelt appreciation extends to Algeria, the host country of this pivotal EGM that ratified these transformative changes, as well as to our 44 Member Countries, the African Development Bank, Africa-Re, our esteemed Board of Directors, and the dedicated staff of ShafDB. Their invaluable contributions have culminated in this historic milestone.”

In addition, the delegations had the privilege of touring exemplary affordable housing initiatives, accompanied by Director General Mr.Ahmed Belayat, a board member of ShafDB, who also heads the National Housing Bank. The renaming of Shelter Afrique to Shelter Afrique Development Bank (ShafDB) reiterates a renewed sense of purpose, solidifying the financier’s status as a transformative and sustainable development bank solely dedicated to advancing urban housing and related infrastructure development across Africa.

“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”)” says the Managing Director, Thierno-Habib Hann.

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Shelter Afrique CEO Presents Credentials to the Government of Kenya

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Shelter Afrique Development Bank (ShafDB) Chief Executive Officer, Thierno Habib Hann, has presented his credentials to Prime Cabinet Secretary of Kenya and Foreign & Diaspora Affairs Minister of Kenya, H.E Dr. Musalia Mudavadi.

In a formal ceremony held at the Prime Cabinet Secretary of Kenya’s office in Nairobi, Mr. Hann conveyed Shelter Afrique Development Bank ‘s commitment to enhancing its collaboration with the Government of Kenya in addressing the pressing challenges of affordable housing and urban development in the country and across Africa.

Mr. Hann highlighted the organization’s commitment to sustaining its impactful efforts in Kenya, particularly in advancing affordable housing programs. Mr. Hann reiterated Shelter Afrique Development Bank ‘s dedication to supporting Kenya’s housing agenda with a particular focus on housing programs that seek to address key thematic areas of climate financing, gender, migrants, refugees, and the diaspora.

“We enjoy a great relationship with the Government of Kenya, being Kenya Shelter Afrique Development Bank ‘s largest shareholder and we are looking forward to scaling up projects that are in line with the visionary economic development agenda – Kenya Vision 2030. We extend our gratitude to the Government of Kenya for their enduring confidence in our institution and for hosting ShafDB’s Headquarters for the last 42 years,” stated Mr. Hann.

He further conveyed Shelter Afrique Development Bank ‘s readiness to collaborate closely with Kenyan authorities in implementing innovative solutions aimed at expediting the provision of quality, affordable housing, and associated infrastructure and urban development across the nation.

Welcoming Mr. Hann and accepting his appointment, Prime Cabinet Secretary Honorable Musalia Mudavadi, commended Shelter Afrique Development Bank for its ongoing transformation and continued commitment to Kenya and further Africa’s development priorities, highlighting the organization’s valuable contributions to the region’s housing sector over the years.

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AfCFTA Extends Reach To North Africa

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The African Continental Free Trade Area (AfCFTA) Secretariat and N Gage Consulting signed a Memorandum of Understanding (MoU) to enhance implementation of the AfCFTA within Africa, with a focus on North Africa and Arabic speaking countries as well as harness the potential of the AfCFTA through targeted outreach towards positive impact in Africa. The MoU was sealed by the AfCFTA Secretary General, H.E. Mr. Wamkele Mene and Mr. Karim Refaat, Chairman of N Gage Consulting and Dr. Sherif Fahmy, CEO.

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The was established as an effort to eliminate trade barriers among African countries with the aim of creating a single market size of 1.3 billion people with a combined annual GDP of $3.4 trillion. As the largest free trade area in the world, the AfCFTA is expected to increase intra-African trade and promote regional economic integration of Africa and, as a result, contribute to the sustainable economic and social development of the continent through the creation of employment opportunities and the reduction of poverty.

Pursuant to the MoU, the two parties commit to strengthen cooperation and promote concrete activities in areas of conducting webinars, tailor effective roundtable sessions, public-private dialogues and to develop a series of monthly newsletters to disseminate relevant information through social media platforms with the aim of raising awareness of business and governments on the AfCFTA, its objectives and showcasing AfCFTA’s Guided Trade Initiative and its role in powering trade among members states. 

Additionally, the collaboration will facilitate the preparation for the AfCFTA Business Forum and The Intra African Trade Fair (IATF) and the execution of different capacity building programs for the member states in order to leverage the AfCFTA to boost intra-African trade and utilise Public Private Partnership (PPP) projects to support investment in infrastructure.

The MoU is expected to promote the AfCFTA as a trade liberalisation instrument and sustainable development enabler and accelerator as well as enhance intra-African trade as an engine for economic diversification and industrialisation.

As one of the leading companies operating in the area of government relations and public policy in the MENA region, N Gage Consulting is committed to support the AfCFTA and will deploy all the necessary resources to strengthen and expand cooperation with the AfCFTA Secretariat to enhance African trade integration. 

In addition to her impressive legal background, Rosemond has cultivated a niche expertise in the tech startup ecosystem. She has consistently provided comprehensive consulting, due diligence, and investor readiness services to numerous companies in the tech sector.

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Koa Academy Wins MEST Africa Challenge 2023, Secures $50,000 Funding

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Koa Academy team

MEST Africa, a leading Pan-African tech entrepreneurship training program, seed fund, and incubator, proudly announces Koa Academy as the grand prize winner of the 2023 MEST Africa Challenge (MAC), securing a $50,000 equity investment after a competitive pitch battle among Africa’s brightest tech innovators.

In a thrilling showcase of ingenuity and entrepreneurial spirit, Koa Academy from South Africa stood out at the MEST Africa Challenge finale in Accra, Ghana, surpassing contenders from across the continent. This coveted startup competition, known for identifying and nurturing tech talent, saw Koa Academy clinch the top spot with its groundbreaking solution, poised to transform the Edtech industry.

The competition drew applications from hundreds of early-stage tech startups, rigorously assessed on criteria such as innovation, scalability, and team strength. Finalists from Ghana, Nigeria, Senegal, South Africa and Kenya competed in the grand finale, demonstrating their unique solutions and business models to a panel of esteemed judges, including investors and industry experts.

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Koa Academy, Winner of the 2023 MEST Africa Challenge and a South African innovator in online education, offers dynamic and interactive courses for grades 4-12. With a focus on engagement and accessibility, it champions digital learning, making quality education available to anyone, anywhere, and transforming the educational landscape in South Africa. The startup impressed the judges at the MAC Finale showcasing significant market potential, revenue growth, and social impact.

“Winning the MEST Africa Challenge has been an amazing experience for the Koa Academy team. It highlights the hard work and dedication that everyone has put into growing Koa. This recognition is not just an award; it’s a testament to the passion and perseverance that drives us every day. Amidst the challenges, this journey has brought us closer to others across the continent, forging relationships and connections that fuel our mission even further. We are reminded that we’re not alone in this endeavor and are incredibly grateful for the support and learning opportunities this challenge has presented,” said Lauren Anderson, Co-founder and CEO, Koa Academy, expressing gratitude and optimism for the future of tech startups in Africa.

Ashwin Ravichandran, Portfolio Advisor at MEST Africa congratulated the winner and finalists for their exceptional achievements and resilience. The event also highlighted the support of Absa Bank Ghana for contributing to the challenge’s success. The MEST Africa Challenge continues to be a pivotal platform for emerging tech startups in Africa, offering funding, visibility, and support to innovate and scale. Koa Academy’s victory underscores the vibrant potential within Africa’s tech ecosystem, promising a brighter future for the continent’s digital landscape.

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