Shelter Afrique Development Bank (ShafDB), a pan-African multilateral bank focused on housing and urban development, has signed a Memorandum of Understanding (MOU) with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for the West African Economic and Monetary Union (WAEMU). The partnership aims to mobilize capital for affordable housing projects across Africa, tackling a continent-wide housing deficit currently estimated at over 53 million units.
The MOU was signed by Dr. Edoh Kossi Amenounve, CEO of BRVM, and Thierno-Habib Hann, CEO of Shelter Afrique, during a ceremony in Washington DC, held alongside the recent IMF-World Bank Group Annual Meetings.
The agreement establishes a collaborative framework between the two organizations, focusing on mobilizing financial resources through innovative financial instruments such as Green, Sustainability-linked, and Social (GSSS) bonds, as well as Real Estate Investment Trusts (REITs).
Key Areas of Collaboration
Shelter Afrique and BRVM will work together to design and execute a debt securities issuance plan on the BRVM regional financial market. They aim to explore sustainability-linked bonds and promote green, gender-focused, Islamic, and diaspora bonds to bolster housing finance within the WAEMU region. The partnership also targets attracting capital investments in the community housing sector via REITs.
Additionally, both parties will exchange knowledge, provide technical assistance, and collaborate on joint research and publications to advance their shared objectives of financing sustainable housing solutions.
Speaking at the ceremony, Thierno-Habib Hann highlighted the importance of the partnership in addressing Africa’s housing challenges. “This partnership with BRVM is a significant milestone for Shelter Afrique Development Bank. With Africa’s housing deficit now exceeding 53 million units, we need to scale our efforts rapidly. This MOU offers us the opportunity to mobilize the capital necessary to finance affordable and sustainable housing projects across the continent,” said Hann.
Echoing this sentiment, Dr. Edoh Kossi Amenounve expressed BRVM’s commitment to the collaboration. “BRVM is proud to partner with Shelter Afrique Development Bank to boost investment flows into Africa’s housing market. This collaboration aligns with our mission to promote capital markets and support sustainable development within the WAEMU region,” he said.
