The Financial Caucus of African Ministers of Housing and Urban Development will serve as a continental advocacy platform to prioritize the housing sector with national governments and international institutions.
Kigali- Rwanda: June 19, 2024 – Shelter Afrique Development Bank (ShafDB) has welcomed the formation of a Financial Caucus of African Ministers of Housing and Urban Development which will help identify common challenges and opportunities in the housing sector in order to develop effective strategies for collective action by Member States.
The decision to form the Caucus was taken by shareholders at the institution’s 43rd Annual General Meeting (AGM) and Symposium held in Kigali, Rwanda last week.
The Caucus, which was launched at the AGM, will facilitate dialogue and information sharing on best practice in housing policy, regulation and implementation. It should also serve as a continental advocacy platform to prioritize the housing sector with national governments and international institutions.
Congratulating shareholders for approving the creation of the Caucus, Thierno Habib-Hann, Managing Director and CEO of Shelter Afrique Development Bank, said the formation of the Financial Caucus of African Ministers of Housing and Urban Development was “a welcome initiative”.
“With a deficit of 52 million housing units and an estimated construction cost of $25,000 per unit, the continent needs at least $1.4 trillion, which represents a huge financial challenge for us. We believe that this Caucus will provide a platform for Member States’ Ministers of Housing and Urban Development to collaborate, share knowledge and develop policies and financing strategies to enhance their efforts to provide sustainable and affordable housing solutions in their respective countries under the aegis of Shelter Afrique Development Bank,” said Mr. Habib-Hann.
Leveraging collective strength
Mr. Hann also noted that the Caucus was established to create synergy by leveraging the collective strength of member countries, drawing on their unique experiences and resources to address Africa’s common housing challenges. .
“We believe the Caucus will help identify common challenges and opportunities in the housing sector in order to develop effective strategies for collective action and explore ways to mobilize resources and expertise from international partners, stakeholders private sector and development organizations to support housing initiatives and respond to the housing crisis in Africa,” said Mr. Habib-Hann.
ShafDB shareholders also elected Nigeria’s Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa as inaugural Chairman of the Caucus.
By accepting his election, Arc. Dangiwa said the establishment of the Finance Caucus of African Ministers of Housing and Urban Development provides a unique opportunity to galvanize collective action and accelerate progress towards inclusive and sustainable housing development in Africa.
“By encouraging collaboration, promoting innovation and mobilizing resources, we can transform the housing landscape on our continent and significantly improve the quality of life for millions of our citizens,” said Arc. Dangiwa.
Mike Omuodo