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Ghana Wins Seat on Shelter Afrique Development Bank Board, Says Housing Minister

Kojo Oppong Nkrumah says with the new feat, Ghana aims to increase its capitalization of 4.8% with the bank to 10%

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.

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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.

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Shelter Afrique’s current shareholding comprises 44 African countries, the African Development Bank (AfDB) and Africa Re.

 

 

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