The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
Question: What does the financial package with the African Development Bank represent for Shelter Afrique?
Answer: The financial package represents a comprehensive and well thought out response to the needs of Shelter Afrique. In addition to the financial support which will help to strengthen the balance sheet to efficiently finance the housing sector, particularly the middle income group, the assistance of AfDB is truly a capacity building that will last and prepare the institution to be truly a pan African financial institution for housing finance. We see AfDB financing as a springboard to mobilize more resources from African capital markets and beyond. This financing is really a catalyst . We are near to finalizing the bonds issuance in Kenya and in the West Africa through the Bourse Regionale d’Abidjan.
Question: How will the money be used? What will be the concrete impact on the ground?
Answer: The money will be used to increase the level of our operations. Specifically, AfDB’s financing will help to do more housing projects for the middle class across Africa. The impact on the ground will soon be visible. Shelter Afrique and AfDB supervision missions will show the real impacts on the ground. The reporting system mutually agreed is a good framework to show the outcomes of the financing.