26.6 C
New York
Monday, August 8, 2022

Nigeria to host 42nd Shelter Afrique AGM in May 2023

Abuja, the Nigeria’s capital city is billed to host the 42nd Annual General Meeting, AGM, of Shelter-Afrique by the second week of May, 2023.

Nigerian was granted the hosting right during  Shelter Afrique’s 41st Annual General Meeting, AGM, and Symposium, held between  25th -and 29th July, 2022 at the Elephant Hills Hotel in the resort town of Victoria Falls, Zimbabwe.

More than 200 delegates drawn from the 44 African member countries comprising Ministers, senior government officials, representatives from the financial service sector and organisations within the housing delivery spectrum attended Meeting.

The AGM was held under the theme ‘Climate Change and the Built Environment.’

The Government of Nigeria’s delegation to the 2022 AGM and Symposium was led by the Honourable Minister of State Works and Housing, Umar Ibrahim El-Yakub who was accompanied by other senior Government Officials and functionaries.

With its Headquarters in Kenya, Nairobi, Shelter Afrique is the only Pan-African Finance Institution that exclusively supports the development of the housing and the real estate sector in Africa.

It was established in 1982 by African Governments, the African Development Bank (AfDB) and African Reinsurance Corporation (African-Re) and is dedicated to providing funding solutions for affordable housing projects across Africa.

Nigeria is a founding member of the Organization and holds priority position as the second largest shareholder with investments exceeding USD 30,000 representing 15.8 per cent of its shareholding, coming behind Kenya with 17.27 per cent, and ahead of the AfDB at 12.78 per cent.

Nigeria hosted the West African Regional office of Shelter-Afrique established in 2014, and hosted the 13th and 36th Annual General Meetings of the Organization in Abuja in 1994 and 2016 respectively.

Over the years, Shelter Afrique has worked in partnership with the Real Estate Developers Association of Nigeria, REDAN, State Governments and other property financiers and developers to curb Nigeria’s housing deficit, and recently in April, 2022 successfully raised a N46bn five and seven-years tenure Naira dominated bonds at 13 and 13,5 per cent respectively to further boost Nigeria’s housing supply and provide affordable housing.

Once again, the capital city of Abuja, Nigeria is billed to host the 42nd AGM of shelter-Afrique in Abuja in the second week of May, 2023.

As the main policy organ of the Organization, the 41st Shelter Afrique AGM held in Zimbabwe provided a forum for shareholders to collectively review and deliberate on the performance and continued growth of the Organization.

A new Bureau of the General Assembly to run the Company for the next one year was elected comprising, the Minister of National Housing and Social Amenities, Honourable Daniel Garwe (Zimbabwe) as Chairperson, Minister of Works and Housing, Honourable Raji Babatunde Fashola (Nigeria) as 1st Vice-Chairperson and Minister of Infrastructure, Honourable Dr. Ernest Nsabimana (Rwanda) as 2nd Vice-Chairman.

The AGM also reviewed the Reports and Accounts for the financial year ended 31st December, 2021 and appointed new directors and External Auditors for the Company among other important administrative and organizational matters set to put the Organization on a progressive part of growth.

The accompanying Annual Symposium at the 41st AGM which focused on ‘Climate Change and the Built Environment’ is one of the key activities of Shelter Afrique’s 2020-2025 strategy for disseminating information on topical issues.

Driven by its Centre of Excellence and the need for research-based housing solutions, the Annual Symposium is designed to be an avenue for collaboration and synthesising information, knowledge, best practices and innovations on housing and urban development issues to the wider African housing financing and production market.

It has over the years served to document and disseminate information to African countries, stakeholders, and key partners. and provided solutions for better housing strategies.

The effects of the COVID-19 pandemic in the last two years has seen the world witness dramatic changes that have directly impacted the built environment and Climate Change which informed the theme for the 41st AGM.

Climate Change has a significant influence on the social and environmental determinants of health, clean air, safe drinking water, sufficient food and housing security, and continues to affect day to day living, including making the provision of safe, habitable, weather proof shelter major challenges.

The Symposium saw many seasoned experts address these pertinent issues, and introduce new technologies and innovations to ensure provision of good weather proof structures.

As a Pan African housing development financier, a Roundtable Session of African Finance Ministers and Reserve Banks’ Governors on the theme: The Role of Central Banks in African Housing Markets was also held on the side-lines of Shelter-Afrique’s 41st AGM as part of its main activities.

Central Banks the world over are considered an integral part of the economic and financial system of a nation and have a critical mandate to achieve and maintain price stability, maintain the financial system’s stability, define monetary policy and act as lenders of last resort.

This central role of Central Banks was discussed in all its ramifications, and solutions and strategies were proffered by the Roundtable for further strengthening of its role in the real estate sector and provision of more efficient and effective service delivery.

Another major highlight of the Shelter-Afrique’s 41st AGM was the signing of the Host Agreement for the Shelter Afrique 42nd AGM on Thursday 28th July 2022 between the Government of Nigeria represented by the Minister of State Works and Housing, Umar Ibrahim El-Yakub and Shelter Afrique represented by the Acting Managing Director Mr. Kingsley Muwowo, It signaled the commitment by the Government of Nigeria to host Shelter Afrique’s 42nd AGM earmarked for the second week of May 2023 in Abuja, Nigeria.

The agreement spells out the Annual General Meeting, a Ministerial roundtable and interlinked business activities as some of the events that will constitute the proceedings. The signing ceremony was witnessed by Honourable Ministers, senior government officials and other stakeholders.

The Minister of Works and Housing Babatunde Fashola, will succeed Zimbabwe as Chairman during the 42nd Annual General Meeting in Abuja in 2023.

The Government of Nigeria is expected to ensure effective organisation and success of the meetings by undertaking to contribute to the physical arrangements in collaboration with Shelter-Afrique.

The Minister of State Works and Housing, Umar Ibrahim El-Yakub speaking as the first Vice Chairperson of the Shelter Afrique Bureau of the General Assembly expressed the Government of Nigeria’s pleasure to host the next AGM of Shelter-Afrique.

He appreciated how things had come full circle when in 2016 Nigeria hosted the AGM when Shelter-Afrique was facing similar turbulence, and Nigeria steadied the ship and handed stewardship to Zimbabwe, and noted that Zimbabwe also now had an opportunity to do the same for Nigeria.

He encouraged all shareholders to play similar roles when required to advance the cause for affordable housing in Africa.

Nigeria’s Minister further observed that Nigeria recently contributed capital of US$7.1 million to the organisation which demonstrated the country’s commitment to Shelter-Afrique and the ideal of African Multilateralism.

He also called for the organisation to deliver on its promise to add Shareholder Value and to swing into more positive action.

He expressed gratitude to Shelter Afrique for putting together avenues for dialogues during the AGMs, and urged that frameworks be included that respective member countries can take back to their countries for implementation, a role which Nigeria will continue to advance as a member of the 41st Bureau of Shelter Afrique.

Minister Umar Ibrahim El-Yakub also observed that Shelter Afrique’s return to Nigeria for its 42nd AGM demonstrated the Organization’s renewed interest in Nigeria and anticipated great returns towards housing delivery in the country. He noted that the gains to be accrued by Nigeria through hosting the AGM include regional integration, tourism and business linkages, and would also highlight Shelter Afrique’s role as a catalyst in the industry and its ability to leverage partnerships.

He appreciated Shelter Afrique for bestowing trust upon Nigeria as a Nation by selecting it as its venue of choice.

Also as part of the week-long 41st AGM and Symposium activities Hon. Gen (Rtd) Dr. Constantino Chiwenga, the Vice President of Zimbabwe, officiated the ground-breaking ceremony for 164 units blocks of walk-up flats for Victoria Falls.

The project is part of a revolving fund built in partnership with the private sector.

The flats will be sold to affording citizens, targeting middle income earners in line with the Government’s primary focus to provide social housing for every worker including civil servants, in Victoria Falls and the countrywide can to address the housing backlog.

A building and housing exhibition also ran parallel to the AGM for its week-long duration.

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -spot_img

Latest Articles