, NAIROBI, Kenya, Nov 8 – Ghana has become the 43rd State Member of Shelter Afrique following a cash payment of Sh967 million for a stake as a Class “A” shareholder in the housing development financier.
This achievement underlies the objective of the institution to ensure participation by all African countries in Shelter Afrique.
Shelter Afrique will now work closely with the government and the private sector in Ghana to improve the provision of mortgage finance to public and private developers with particular emphasis on the housing needs of the middle class.
Speaking about the decision to join Shelter Afrique; Finance and Economic Planning Minister for Ghana, Dr Kwabena Duffour stated “Ghana is committed to improving the supply of affordable houses for its population.”
Ghana is estimated to have a housing deficit in excess of 1.5 million houses.
Shelter Afrique’s Managing Director Alassane Ba further pointed out that “Ghana is joining Shelter Afrique at an exciting time when the priorities of Africa are focused towards the housing needs of the growing population of the continent.”
He reiterated the institution’s commitment to work closely with all stakeholders to proactively implement the agenda to provide decent housing especially for the middle class.
“We (Shelter Afrique) are working to strengthen strategic relationships with key players in the mortgage industry in order to improve the financing of the sector and will continue to seek out partnerships and new member countries,” said Ba.
Shelter Afrique is a Pan African financial institution dedicated to financing housing and related infrastructure in Africa.
The organisation was set up in 1982 with its headquarters in Nairobi.
Its membership comprises 43 African countries, the African Development Bank and Africa-Re.