SEO Riders:
– BADEA approves US $120 million facility to support member states’ capital subscriptions under Shelter Afrique’s capitalisation programme.
– Funds will help clear arrears and redistribute forfeited shares via transparent pro-rata and first‑come-first‑served mechanisms.
– Strengthened equity positions aim to unlock ShafDB’s growth potential in affordable housing across Africa and attract institutional investors.
At its 44th Annual General Meeting, Shelter Afrique Development Bank (ShafDB) secured a transformative US $120 million financing facility from the Arab Bank for Economic Development in Africa (BADEA) to support its capitalisation program. The funding is designed to help eligible member states settle outstanding capital contributions, boost their equity positions, and enable redistribution of forfeited shares under equitable conditions—initially allocated equally, followed by phased allocation based on pro-rata contributions and availability.
ShafDB’s Managing Director, Thierno Habib-Hann, described the agreement as a pivotal milestone in enhancing the bank’s institutional capacity to finance affordable housing and sustainable urban development across Africa. The capital injection is expected to strengthen the balance sheet, support the bank’s transformation into a fully-fledged development bank, improve its credit rating prospects, and attract new investors—enabling an expansion of its lending and technical assistance programs continent-wide.
