Ghana has secured a seat on the Board of the pan-African housing finance institution, the Shelter Afrique Development Bank, Housing Minister Kojo Oppong Nkrumah has said.
According to a ministry statement, the achievement was made during the 43rd Annual General Meeting (AGM) of Shelter Afrique, held from June 11-13, 2024, in Kigali, Rwanda.
“Ghana’s election to the board of Shelter Afrique Development Bank marks another major milestone, positioning the country to play a crucial role in shaping policies and decisions that will drive access to affordable housing in Ghana and across Africa,” the statement added.
Kojo Oppong Nkrumah says with the new feat, the country aims to increase its capitalization of 4.8% with the bank to 10%.
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“This move is expected to enhance Ghana’s ability to attract financing for its affordable housing projects, ultimately improving access to housing for all.”
The Shelter Afrique is the only pan-African organization devoted to financing the development of proper housing and human settlements in Africa. Created in 1982 and headquartered in Nairobi, Kenya, Shelter Afrique is a pan-African housing finance and development institution that helps to address the acute shortage of housing by providing financial and technical resources for sustainable housing and urban development.
Shelter Afrique’s current shareholding comprises 44 African countries, the African Development Bank (AfDB) and Africa Re.
