Ghana wins seat on Shelter Afrique Development Bank

Ghana has won a seat on the Board of Directors of Shelter Afrique Development Bank.

The victory at the 43rd Annual General Meeting (AGM) held in Kigali, Rwanda, on June 13, 2024, makes Ghana one of six countries to steer the affairs of the Bank.

The Minister for Works and Housing, Kojo Oppong Nkrumah, who led Ghana’s delegation to the AGM, expressed optimism about the opportunities this development will unlock for the country.

Shelter Afrique, a Pan-African housing finance and development institution, has been pivotal in promoting affordable housing across the continent. This year's AGM, themed "Sustainable Partnerships in the Affordable Housing Finance Value Chain," brought together representatives from member states, financial institutions, and development partners. The primary focus was on transforming Shelter Afrique into a dynamic development bank that meets international standards.

Addressing the media on the sidelines of the meeting, Minister Oppong Nkrumah highlighted the significance of Ghana's new position.

"Securing a seat on the Board of Shelter Afrique is a strategic victory for Ghana. This development enhances our influence within the organization and positions us to attract more resources to support our affordable housing initiatives," he stated.

The Minister emphasized that increasing Ghana's presence in Shelter Afrique is part of a broader strategy to strengthen its shareholding and leadership role within the bank. "Our increased presence at Shelter Afrique will enable us to tap into a wealth of resources and expertise. This will significantly boost our efforts in rolling out affordable housing projects and providing mortgages to make these homes accessible to our citizens," Oppong Nkrumah explained.

The AGM marked a pivotal moment for Shelter Afrique, as underscored by its Managing Director, Thierno Habib Hann. "This AGM marks a decisive turning point to affirm our journey of transformation," Hann remarked. The meeting's discussions centered around fortifying the organization's operational framework and aligning it with international best practices to better serve its member states.

For Ghana, this new board seat is a testament to the country's commitment to addressing its housing deficit. Currently, Ghana faces a significant housing shortfall, with demand far outstripping supply, particularly in urban areas. The government has been proactive in seeking partnerships and investments to bridge this gap, and its engagement with Shelter Afrique is a critical part of these efforts.

Minister Oppong Nkrumah reiterated the government's dedication to leveraging this new position for the greater good. "With this seat, we are better positioned to influence decisions that directly impact our housing sector. We will advocate for policies and initiatives that support our national housing agenda and ensure that the benefits of our membership in Shelter Afrique are fully realized," he added.

The Minister also expressed gratitude to the member states and partners who supported Ghana’s bid for the board seat. "We extend our heartfelt thanks to our fellow member states and partners for their confidence in Ghana's capabilities. This collective effort underscores the spirit of cooperation and shared goals that define Shelter Afrique," he concluded.