Latest news with #ShafDB
Zawya
09-07-2025
- Business
- Zawya
GCR upgrades ShafDB's long and short-term issuer ratings, maintains stable outlook
Nairobi - Global Credit Ratings (GCR), has affirmed and upgraded Shelter Afrique Development Bank's (ShafDB) international and several key national scale ratings, reflecting the Bank's strengthened capital position, risk management improvements, and growing credibility across our its shareholder base. In its latest review, the Johannesburg-based rating agency has affirmed the Bank's international scale long-term and short-term issuer ratings at B/B, with a Stable Outlook. At the same time GCR has also upgraded the long and short-term national scale issuer ratings for Kenya to AA+(KE)/A1+(KE) from AA-(KE)/A1+(KE); Nigerian to AAA(NG)/A1+(NG) from AA+(NG)/A1+(NG); and Mauritian to BBB(MU)/A2(MU) from BB+(MU)/B(MU). All the three national scale ratings have been accorded a stable outlook. The Agency has also Upgraded the ratings of its Nigerian Series 1 Senior Unsecured Notes under the NGN200bn Domestic Bond Issuance Programme to AAA(NG) from AA+(NG). 'The upgrades reflect GCR's confidence in the Bank's improved risk management, strengthened capitalization (leverage ratio up to 82.2% in FY2024), and progress in capital arrears resolution. The Stable Outlook affirms expectations of continued sound capitalization, strategic disbursement growth, and enhanced shareholder engagement,' GCR said in a commentary. 'This recognition underscores Shelter Afrique's growing operational credibility, commitment to quality lending, and continued transformation into a resilient and trusted multilateral development bank dedicated to delivering affordable housing and urban development solutions across Africa,' GCR added. Welcoming the rating reviews, Shelter Afrique Development Bank's Director of Risk, Bernard Oketch said the rating upgrade has reinforced the Bank's financial strength, strategic direction, and institutional credibility. 'These upgrades reflect our strong fundamentals and our unwavering commitment to reforms, growth, and sustainable impact. Clearly, we are on a solid path forward in delivering impactful, quality-driven housing finance solutions across Africa,' Mr. Oketch said. Shelter Afrique Development Bank's has 46 shareholders comprising 44 member States under 'Category A' shareholding, and African Development Bank (AfDB) and the Africa Reinsurance Corporation (Africa-Re) under 'Category B' shareholding – who will be convening in Algiers, Algeria from 15th to 17th July 2025 for the Bank's 44th Annual General Meeting and Housing Symposium. It has also 'Category C' shareholding for non-African institutions and States willing to join the institution as shareholders. About Shelter-Afrique Development Bank: Shelter Afrique Development Bank is a Pan-African institution solely dedicated to financing and promoting housing, urban & related infrastructure development across the African continent. ShafDB operates through a partnership involving 44 African Governments, as well as the African Development Bank (AfDB) and the Africa Reinsurance Corporation (Africa-Re). The Institution delivers financial solutions and associated services that support both the supply and demand aspects of the affordable housing value chain. As a premier provider of financial, advisory, and research solutions, ShafDB focuses on addressing Africa's housing crisis through financial institutions, project finance and public-private partnerships, striving to achieve sustainable developmental impact
Zawya
14-05-2025
- Business
- Zawya
Algeria to host Shelter Afrique Development Bank's 44th AGM in July
Algiers, Algeria – Algeria is set to host Shelter Afrique Development Bank's (ShafDB) 44th Annual General Meeting (AGM) and Housing Symposium in July 2025, the Bank has disclosed. The high-level event, set to take place in Algiers from 15th to 17th July 2025 at Hotel El Aurassi in Algiers, Algers, will bring together key stakeholders, policymakers, investors, and development finance leaders to discuss strategies for advancing affordable housing and sustainable urban development across Africa. The AGM, which will convene under the theme: ' Housing Sector Financial Sustainability Amid Global Turbulence: Opportunities and Challenges ', will bring together Ministers of Housing and Finance from member States, shareholders, central banks, mayors, private developers, investors, and development finance partners to explore ways of transforming the promise of urban Africa into tangible, inclusive progress. The meeting will provide a platform to review ShafDB's performance, assess progress in its strategic initiatives, and formulate policies that will shape the institution's role in addressing Africa's housing and infrastructure challenges. Speaking on the upcoming AGM, Shelter Afrique Development Bank's Managing Director & CEO, Thierno-Habib Hann, expressed his enthusiasm about the selection of Algeria as the host country. 'Algeria has demonstrated a strong commitment to housing development and urban transformation. Hosting the institution's extraordinary general meeting (EGM) in late 2023 which transformed Shelter Afrique into a Development Bank, and now the 44th AGM in Algiers underscores the country's leadership in advancing sustainable housing solutions in Africa. We look forward to engaging with our partners and stakeholders to drive impactful initiatives that will enhance housing accessibility and economic growth on the continent,' Mr. Hann said. Key agenda for the AGM will include discussions on capital mobilization, innovative financing mechanisms, and public-private partnerships to accelerate housing delivery. Additionally, the meeting will feature ministerial roundtables and high-level policy dialogues; plenary sessions to explore urban resilience, local solutions to housing challenges; technical forums, exhibitions and investment showcases, and networking sessions aimed at fostering collaboration among industry stakeholders. 'As Africa continues to face a growing demand for affordable housing, Shelter Afrique Development Bank remains committed to championing solutions that enhance urban resilience, economic empowerment, and inclusive growth. The 44th AGM in Algiers is expected to yield critical resolutions that will guide the institution's strategic direction in the years ahead,' Mr. Hann quipped. As a host country, the Government of Algeria is expected to ensure effective organization and success of the meetings by undertaking to contribute to the physical planning. About Shelter Afrique Development Bank Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re). The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG). For further inquiries, please contact: Communication Team | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Email: info@ OR
