Shelter Afrique Development Bank has applauded the formation of a Financial Caucus of African Ministers of Housing and Urban Development that will help identify common challenges and opportunities in the housing sector to develop effective strategies for collective action by the member States.
The decision to form the Caucus was reached by shareholders at the institution’s 43rd Annual General Meeting (AGM) and Symposium held in Kigali, Rwanda last week.
The Caucus which was launched during the AGM, will facilitate dialogue and information sharing on best practices in housing policy, regulation, and implementation. It is also expected to serve as a continental advocacy platform to prioritise the housing sector among national governments and international institutions.
Lauding shareholders for approving the creation of the Caucus, Shelter Afrique Development Bank Managing Director &CEO Thierno Habib-Hann said the formation of the Financial Caucus of African Ministers of Housing and Urban Development is “a welcome move”.
“At 52 million housing units deficit and at an estimated construction cost of US$25,000 per unit, the continent needs at least US$1.4 trillion, which presents a huge funding challenge for us. We believe this Caucus will provide a platform for housing and urban development ministers from member States to collaborate, share knowledge, and develop policies and financing strategies to enhance their efforts in delivering sustainable and affordable housing solutions in their respective countries under the guidance of Shelter Afrique Development Bank,” Mr. Habib-Hann stated.
Leveraging the collective strength
Mr. Hann further noted that the Caucus has been formed 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 to develop effective strategies for collective action and explore ways to mobilise resources and expertise from international partners, private sector stakeholders, and development organisations to support housing initiatives and address Africa’s housing crisis,” Mr. Habib-Hann said.
ShafDB shareholders also elected Nigeria’s Minister of Housing and Urban Development Arc. Ahmed Musa Dangiwa as the inaugural chairperson of the Caucus.
Acceptance his election, Arc. Dangiwa said the establishment of the Financial Caucus of African Ministers of Housing and Urban Development presents a unique opportunity to galvanize collective action and accelerate progress towards inclusive and sustainable housing development in Africa.
“By fostering collaboration, promoting innovation, and mobilizing resources, we can transform our continent’s housing landscape and significantly improve the quality of life for millions of our citizens,” Arc. Dangiwa said.
