Real Estate and Construction

Shelter Afrique delegation visits the Minister for Works and Housing, Babatunde Raji Fashola

A five-day working tour of the Nigerian market was conducted by the Shelter Afrique delegation, which was led by Board Chairman Dr. Chii Akporji and Managing Director & CEO Mr. Thierno-Habib Hann. During this time, the group spoke with a number of stakeholders, including the Hon. Minister for Works and Housing, Babatunde Raji Fashola.

The team briefed Hon. Fashola on the progress being made in preparing for the 42nd Annual General Meeting (AGM) of the Company, which will take place in Abuja, Nigeria, the week of May 8–11, 2023.

Thanks to your Ministry and the Federal Republic of Nigeria’s government, Shelter Afrique has been able to carry out its aim to provide quality and affordable housing for everyone in Africa. We sincerely appreciate Nigeria’s contribution to protecting the organization and the part you personally played in leading the way and speaking up for the shareholders, Dr. Akporji remarked.

Since the invitations have already been distributed through your office and the Shelter Afrique team is working to secure the necessary quorum for a successful meeting, I’m happy to let you know that plans for the 42nd AGM are on track. Dr. Chii Akporji added

Upon welcoming the team, Hon. Fashola pleaded with Shelter Afrique’s board and management to take the lead in impact-based financing of the provision of affordable housing in Africa. Additionally, when the organization entered a new stage, he urged the board to strengthen and protect its reputation for good corporate governance.

As a significant stakeholder, Nigeria, he said, will continue to hold Shelter Afrique to the highest standards of governance since doing so will help the organization attract more funding.

According to Mr. Hann, a successful expedition to Nigeria demonstrates the value Shelter Afrique places on the Nigerian market. He also noted that Nigeria has a crucial role to play in resolving the continent’s challenge of affordable housing.

Nigeria is one of our most important markets. Nigeria is not only Africa’s second-largest shareholder after Kenya, but it also has one of the continent’s greatest housing requirements. If we can solve this problem in Nigeria, Mr. Hann said, we would have solved the problem on the entire continent.

In addition, the team paid courtesy calls to and spoke with a number of key stakeholders, including Hon. Zainab Ahmed of the Ministry of Finance, Budget, and National Planning, who reaffirmed Nigeria’s unwavering commitment to Shelter-Afrique as one of the largest shareholders.

The Nigeria Mortgage Refinance Company, Mixta Africa, Landmark Africa, Infracredit, Keystone Bank, Access Bank, Lekki Gardens, the African Development Bank, Wema Bank, and The Real Estate Developers of Nigeria were among the other significant stakeholders the team met.

Africa Finance Corporation, Chapel Hill Denham, UPDC, one of the largest real estate developers in Nigeria, Nigeria (REDAN), Family Home Funds, Modern Shelter, Nigerian Sovereign Investment Fund (NSIA), the Central Bank of Nigeria’s deputy governor, Mrs. Aisha Ahmad, and Nigeria (REDAN) are among the organizations involved.

In conclusion, Mr. Hann said, “We have had excellent and productive working sessions with our partners and stakeholders in Nigeria, and I believe this sets pace for the next phase of our activities.

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