Shelter Afrique: Expanding Housing Opportunities in Africa

Shelter Afrique is a pan-African development finance institution that plays a crucial role in expanding housing opportunities in Africa. It was established in 1982 by 13 African countries to address the housing needs of the continent.

With a focus on affordable housing, Shelter Afrique has disbursed over $1.3 billion in loans to its member countries, supporting the construction of over 1 million housing units. This has helped to address the pressing issue of housing shortages in Africa.

Shelter Afrique's efforts have also been instrumental in promoting urban development and reducing poverty. By providing financing for housing projects, it has helped to create jobs and stimulate economic growth in the region.

Shelter Afrique's membership comprises 44 African countries, plus three institutions: the African Development Bank, the African Reinsurance Corporation, and the African Solidarity Fund.

The 44 African countries are categorized into "Class A" shareholders. They include countries such as Algeria, Nigeria, and South Africa.

Shelter Afrique aims to onboard the remaining 10 African countries that are not yet its members, with the goal of having all 54 countries as shareholders. The company is working towards expanding its shareholding to accommodate non-African investors under "Class-C" shareholding.

The current Chairman of the Board of Directors is Dr. Chii P. Akporji, a national of Nigeria.

Shelter Afrique has 44 African member countries, known as "Class A" Shareholders. These countries include Algeria, Benin, Botswana, and many others.

The African Development Bank, African Reinsurance Corporation, and African Solidarity Fund are also shareholders of Shelter Afrique. They are categorized as "Class B" Shareholders.

Shelter Afrique aims to onboard the remaining 10 African countries that are not yet its members. This is part of their membership drive to expand their shareholding.

The company is working towards enrolling more African indigenous companies under the "Class-B" category. They also plan to expand their shareholding to accommodate non-African investors under the "Class-C" category, which they have already created.

Shelter Afrique's goal is to have all 54 African countries as shareholders of the company. This would further attest to the critical role played by Shelter Afrique in providing affordable housing across the continent.

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The governance structure of Shelter Afrique is led by Dr Chii P. Akporji, a national of Nigeria, who serves as the Chairman of the Board of Directors as of October 2025.

Dr Akporji took over the role after Thierno Habib Hann, a national of Guinea, was confirmed as head of Shelter Afrique in August 2022, replacing Zimbabwean Andrew Chimphondah.

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Shelter Afrique has entered into strategic partnerships with various governments, private sector players, and non-governmental organizations to achieve sustainable impact. One such partnership is with the government of Cameroon to establish the Industrial Housing Corporation of Cameroon (IHCC), a joint venture that will provide financial and consultancy support to manufacture housing components.

The cost of land and infrastructure can sometimes constitute up to 50 percent of the final cost of a housing unit, making partnerships with governments crucial in the housing sector. Shelter Afrique's partnership with the government of Cameroon will provide land, off-site infrastructure, and tax incentives.

Shelter Afrique's funding comes primarily from equity resources from shareholders and medium-term borrowings from commercial lenders. Lending partners include international development finance institutions such as the ICD, AFD, EIB, and the African Development Bank.

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Shelter Afrique has entered into a strategic partnership with the World Bank to address the affordable housing crisis in Africa. This partnership will provide advisory services funded under the Joint Capital Markets Program (JCAP) to support Shelter Afrique's capital market program.

The partnership aims to create deep, efficient, and well-regulated local capital markets for expanded access to long-term, local-currency finance in key areas such as climate, housing, and infrastructure. The World Bank's technical assistance support will be key in completing Shelter Afrique's turnaround program.

Shelter Afrique aims to build strategic partnerships and alliances with key industry players as part of its sustainable recovery and growth strategy. The partnership will enhance Shelter Afrique's institutional, operational, and technical capacity targeting the reinstatement of investment-grade credit rating and a strong return to the capital markets.

The African housing crisis is driven by high population growth, increased urbanization, poor urban planning, dysfunctional land markets, rising construction costs, proliferation of informal settlements, and underdeveloped financial systems. The overall shortage of housing in Africa is estimated at 56 million housing units according to research from Shelter Afrique's Centre of Excellence (CoE).

Shelter Afrique has the potential to make a significant impact on Kenya's affordable housing value chain, particularly the supply side, and help bring down the country's housing deficit. The success of this technical assistance will determine future long-term partnership between Shelter Afrique and the World Bank.

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Shelter Afrique's funding primarily comes from equity resources from shareholders and medium-term borrowings from commercial lenders.

The organization has a diverse group of lending partners, including international development finance institutions like the ICD and the African Development Bank.

These partners have a significant role in supporting Shelter Afrique's activities and helping it achieve its goals.

Shelter Afrique is also working with other critical strategic partners, such as the African Union for Housing Finance and UN-Habitat.

The organization is exploring new funding options, including the development of local capital markets.

Shelter Afrique is looking to raise an East African bond targeting markets in Kenya, Tanzania, Uganda, and Rwanda.

This move is aimed at increasing its funding and supporting its mission of promoting affordable housing in Africa.

Shelter Afrique is keen on onboarding the remaining 10 African countries that are not yet its members.

The Pan-African housing development financier has said it wants to expand its membership to all 54 African countries.

Shelter Afrique's share capital is held by two groups of Shareholders: 44 African countries in the "Class A" category and the African Development Bank and African Reinsurance Corporation in the "Class B" category.

The company is working towards enrolling more African indigenous companies under the "Class B" category and expanding its shareholding to accommodate non-African investors under the "Class C" shareholding.

Shelter Afrique's goal is to onboard all 54 countries as shareholders of this great pan-African development finance institution.

Shelter Afrique has a diverse shareholding structure, with 44 African countries holding shares under the Class A category. This category is open to African States.

The company also has a Class B category, which includes the African Development Bank, the African Reinsurance Corporation, and Fonds de Solidarite Africain. These institutions are Africa-based financial organizations.

Shelter Afrique is working to expand its shareholding to accommodate non-African investors under Class C, which will further diversify its shareholder base.

Shelter Afrique's share capital is held by 44 African countries, from Algeria to Zambia, under the Class A category of shareholding.

This category is open to African States, indicating that the company is committed to African ownership and control.

The African Development Bank, the African Reinsurance Corporation, and Fonds de Solidarite Africain are part of the Class B category, created to accommodate Africa-based financial institutions.

This classification suggests that Shelter Afrique values collaboration with other African financial institutions to achieve its goals.

The company is working to expand its shareholding to accommodate non-African investors under Class C, marking a significant step towards globalization.

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Shelter Afrique offers a range of products and services to support the delivery of affordable housing and commercial real estate.

Shelter Afrique provides project finance to large-scale low-cost housing developers.

It also offers lines of credit to financial institutions, which can be a game-changer for businesses looking to expand their offerings.

Equity investments and joint ventures are also part of Shelter Afrique's product portfolio, allowing for collaborative and mutually beneficial partnerships.

The organization's Centre of Excellence is a valuable resource, providing research, capacity development, and advisory solutions to member states.

This centre is a one-stop shop for governments looking to improve their housing and real estate sectors.

Shelter Afrique's products and services are designed to be flexible and adaptable, meeting the unique needs of each client.

Shelter Afrique marked its 40th anniversary under the theme Four Decades of Affordable Housing Policies in Africa: Mapping the Next Forty Years. This milestone was celebrated with the company's 40th Annual General Meeting (AGM).

The anniversary offered shareholders, the board of directors, and management to consider what happens next against the backdrop of the pandemic. Shelter Afrique used this opportunity to review its strategy on Africa's housing policy environment to shape policy and plan for the future.

As of its 40th anniversary, Shelter Afrique's share capital is held by 44 African countries and two other groups of shareholders.

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