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| Ghana is estimated to have a housing deficit of over 1.5 million units. Photo: Accra, Ghana. William Cobbett/Cities Alliance |
[22 November 2011] -- Ghana has joined Shelter Afrique as its 43rd member country, following a cash payment of US $10 million for shares as a Class “A” shareholder in the company. This achievement is in line with the objective of the institution to ensure participation by all African countries in Shelter Afrique.
Shelter Afrique will now work closely with the Government of Ghana and the private sector to improve the provision of mortgage finance to public and private developers with particular emphasis on the housing needs of the middle class.
Speaking about the decision to join Shelter Afrique, Dr. Kwabena Duffour, Hon. Minister Finance and Economic Planning of Ghana, said:
“Ghana is committed to improving the supply of affordable houses for its population. The membership in Shelter Afrique is just one of the steps to the global government policy for a better supply of affordable houses”.
Alassane Bâ, the Managing Director of Shelter Afrique, expressed his satisfaction at the conclusion of this process, noting that Ghana is joining Shelter Afrique at a most exciting time when the priorities of Africa are focused on the housing needs of the region’s growing population.
Mr. Bâ reiterated the institution’s commitment to work closely with all stakeholders to proactively implement its agenda of providing decent housing, especially for the middle class. He also noted that Shelter Afrique is working to strengthen strategic relationships with key players in the mortgage industry in order to improve the financing of the sector, and that the company continues to seek out exciting emerging partnerships and new member countries.
About Shelter Afrique
Established in 1982, Shelter Afrique is a pan-African financial institution dedicated to financing housing and related infrastructure in Africa. Headquartered in Nairobi, Kenya, Shelter Afrique’s membership comprises of 43 African countries, the African Development Bank and Africa-Re. Information regarding accessing Shelter Afrique facilities is available at www.shelterafrique.org
