Shelter Afrique raises N46b for REDAN, states’ housing agencies

The Minister of State for Works and Housing, Umar Ibrahim El-Yakub has commended Shelter Afrique for committing about N46 billion to cushion the effects of the housing deficit in the country.

El-Yakub, in a statement, said the housing agency, through the fund, has strengthened partnerships with the Real Estate Developers Association (REDAN), state governments and housing agencies over the years. Nigeria is one of the founding members and second-largest shareholder with 15.8 per cent of the shareholding investment.

He spoke at the 2022 yearly general meeting of the institution attended by over 200 delegates drawn from the 44 African member countries from the financial service sector and organisations within the housing delivery spectrum.
 
The minister explained: “With its headquarters in Nairobi, Kenya, it is exclusively to support the development of the housing and the real estate sector in Africa and dedicated to providing funding solutions for affordable housing projects across Africa.” 

He stressed that the institution is boosting Nigeria’s housing supply and providing affordable housing. He, therefore, called on the stakeholders to collectively review and deliberate on the performance, as well as the continued growth of the organisation.
 
At the AGM, a new bureau of the General Assembly to run for the next year was elected. Those elected are the Minister of National Housing and Social Amenities, Daniel Garwe (Zimbabwe) as Chairperson, Minister of Works and Housing, Babatunde Fashola (Nigeria) as 1st Vice-Chairperson and Minister of Infrastructure and Dr Ernest Nsabimana (Rwanda) as the second Vice-Chairman.

The new officials will work on the progressive knowledge, best practices and innovations on housing and urban development issues for the wider African housing financing and production market.