Afreximbank, Shelter Afrique seal $1bn deal to boost Africa’s housing, urban development

The African Export-Import Bank (Afreximbank) and Shelter Afrique Development Bank (ShafDB) have signed a strategic partnership aimed at unlocking at least US$1 billion in investments to accelerate housing and urban development projects across Africa.

The agreement, signed on the sidelines of the  Intra-African Trade Fair (IATF2025) in Algiers, will establish a Joint Project Preparation Facility (JPPF) to provide early-stage financing that moves projects from concept to bankability.

Under the framework, the JPPF will target key sectors such as building and construction, housing, healthcare, hospitality and tourism, industrial development, building materials manufacturing, and commercial and residential infrastructure. It will also support the development of industrial and special economic zones.

In addition to financing, the facility includes a capacity-building component to strengthen ShafDB’s project preparation skills, equipping staff to design and deliver bankable, impactful initiatives.

“This partnership aligns with our shared vision of promoting economic growth and enhancing the quality of projects on the continent,” said Oluranti Doherty, Managing Director, Export Development at Afreximbank. “By combining ShafDB’s expertise in housing and urban development with Afreximbank’s project preparation capabilities, we are poised to unlock new opportunities and deliver transformative projects that will also act as catalysts for private sector investment.”

ShafDB’s Managing Director and CEO, Thierno-Habib Hann, described the deal as a critical step in addressing structural barriers facing Africa’s housing and urban sectors.

“Our sector faces two major challenges: the lack of reliable data and insufficient preparation of projects,” Hann said. “We have tackled the first through our VIRAL model, and today, with Afreximbank, we are addressing the second. This facility will enable us to move projects from concept to bankability with speed and precision, unlocking over US$1 billion in investments.”

Both institutions are members of the Alliance of African Multilateral Financial Institutions (AAMFI), a coalition committed to deepening collaboration and innovation to drive economic development across the continent.

The IATF2025, which ran from 4 to 10 September, is projected to generate trade and investment deals worth more than US$44 billion.