The Republic of Guinea’s government and Shelter Afrique Development Bank (ShafDB) have signed a Memorandum of Understanding (MoU) to collaborate on initiatives aimed at resolving the country’s housing shortage and enhancing living conditions.
The Minister of Urbanism, Housing, and Territorial Planning of Guinea, Minister Ehadj Ibrahima Kalil Conde, General of the second sector, and Shelter Afrique Development Bank Development Bank Managing Director Thierno Habib Hann signed the Memorandum of Understanding in Conakry.
The government is aiming to build a million quality, affordable homes over a number of years as part of a priority initiative. The Sustainable Development Goals (SDGs) for economic development, decreasing inequality, and sustainable communities are supposed to be aligned with this program. Col. Bangoura stated that expediting these projects and meeting the government’s housing targets would be made possible by the Memorandum of Understanding that the Guinean government has inked with Shelter Afrique Development Bank.
In accordance with the terms of the agreement, Shelter-Afrique Development Bank will offer technical support and advisory services to the Guinean government. It will also help in the establishment of a framework for housing projects, including the formulation of transaction and financing models as well as the development of a strategic plan aimed at reducing the housing deficit. In addition, ShafDB will be mobilizing, enhancing the capabilities of pertinent organizations like AGUIFIL and ANRU, and evaluating the integration of Guinea’s housing sector.
Mr. Hann praised the Republic of Guinea’s government for moving boldly to address the housing crisis in the nation, noting that the project’s success would set a remarkable precedent for the use of public-private partnerships to address housing crises across Africa.
“Guinea’s choice to launch a large initiative with the goal of building one million homes is a noteworthy accomplishment. As a development bank, this fits in perfectly with our overall approach, which emphasizes providing more affordable, accessible housing inside our member states by partnering with the public and private sectors. It is an honor for us to be working on this project,” Mr. Hann said.
The Ministry of Urbanism, Housing, and Territorial Planning of Guinea’s government will support ShafDB’s work by supplying data, allowing access to project locations, and liaising with pertinent parties. The government will also give ShafDB’s interventions the assistance they need.
Shelter Afrique Development Bank is a pan-African organization that is completely focused on supporting the development of housing, urban, and related infrastructure on the African continent. A cooperation between 44 African governments, the African Development Bank (AfDB), and the Africa Reinsurance Corporation (Africa-Re) allows ShafDB to operate.
The supply and demand sides of the value chain for affordable housing are supported by financial solutions and related services provided by Shelter Afrique Development Bank. In order to address Africa’s housing crisis through financial institutions, project finance, and public-private partnerships, ShafDB, a leading provider of financial, advisory, and research solutions, focuses on this issue while working to generate a lasting developmental impact.