Ghana has secured a seat on the Board of Directors of the Shelter Afrique Development Bank. The election took place at the 43rd Annual General Meeting (AGM) held in Kigali, Rwanda, on June 13, 2024, making Ghana one of six countries to steer the bank’s affairs.
Minister for Works and Housing, Kojo Oppong Nkrumah, who led Ghana’s delegation to the AGM, expressed optimism about the opportunities this development will bring to the country.
Shelter Afrique, a Pan-African housing finance and development institution, plays a crucial role in promoting affordable housing across the continent.
This year’s AGM, themed “Sustainable Partnerships in the Affordable Housing Finance Value Chain,” gathered representatives from member states, financial institutions, and development partners to discuss 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.
He noted that securing a seat on the Board of Shelter Afrique is a strategic victory for Ghana, enhancing the country’s influence within the organization and positioning it to attract more resources to support affordable housing initiatives.
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.
He explained that Ghana’s increased presence would enable the country to tap into a wealth of resources and expertise, significantly boosting efforts to roll out affordable housing projects and provide mortgages to make these homes accessible to citizens.
The AGM marked a pivotal moment for Shelter Afrique, as emphasized by its Managing Director, Thierno Habib Hann, who stated that the meeting marked a decisive turning point to affirm the organization’s journey of transformation.
Discussions focused on fortifying the organization’s operational framework and aligning it with international best practices to better serve its member states.
For Ghana, the new board seat demonstrates 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.
He emphasized that with this seat, Ghana is better positioned to influence decisions that directly impact its housing sector and advocate for policies and initiatives that support the national housing agenda.
The Minister also expressed gratitude to the member states and partners who supported Ghana’s bid for the board seat, acknowledging the collective effort and spirit of cooperation that define Shelter Afrique.
