Afreximbank and Shelter Afrique Partner to Unlock $1 Billion for Urban Growth

The African Export-Import Bank (Afreximbank) and Shelter Afrique Development Bank (ShafDB) have entered into a landmark partnership that promises to reshape Africa’s housing, infrastructure, and urban development landscape. The two institutions signed a Joint Project Preparation Facility (JPPF) Framework Agreement, designed to unlock at least US$1 billion in cumulative investment value.

The agreement was formalized on the sidelines of the fourth Intra-African Trade Fair (IATF2025) in Cairo, Egypt, by Ms. Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Mr. Thierno-Habib Hann, Managing Director and CEO of ShafDB.

Driving Bankable Projects Across Africa

The JPPF is conceived as a transformative mechanism to support the early stages of project development—bridging the gap between conceptualization and bankability. By providing early-stage project preparation financing, the facility will ensure that housing, infrastructure, and urban development projects are structured, viable, and attractive to investors.

Priority sectors under the JPPF include:

• Building and construction

• Affordable housing and healthcare facilities

• Hospitality and tourism infrastructure

• Industrial and manufacturing projects (including building materials production)

• Commercial and residential real estate

• Logistical platforms such as industrial parks and special economic zones

Capacity Building for Long-Term Impact

Beyond financial support, the JPPF incorporates a strong capacity-building component. ShafDB staff will benefit from training programmes designed to sharpen their skills in project preparation, enabling them to design sustainable and high-impact projects in the future. This approach ensures that the facility does not only deliver immediate results but also builds institutional capacity for long-term development.

Strategic Collaboration for Economic Growth

Highlighting the strategic importance of the agreement, Ms. Doherty stated:

“This partnership aligns with our shared vision of promoting economic growth and enhancing the quality of projects on the continent. By combining ShafDB’s expertise in housing and urban development with Afreximbank’s project preparation experience, we can unlock new opportunities and deliver transformative projects that will establish economic hubs and platforms promoting trade and tradeable services.”

She further emphasized that the JPPF will serve as a catalyst for private sector investment, unlocking new streams of socio-economic growth and enhancing Africa’s resilience to future challenges.

Addressing Structural Barriers in the Sector

Mr. Hann, CEO of ShafDB, underlined the urgent need to overcome structural bottlenecks that have historically slowed progress in the housing and urban development sector.

“Our sector faces two major structural challenges: the lack of reliable data and insufficient preparation of projects. At ShafDB, we have tackled the data gap through our VIRAL model, which provides actionable insights for evidence-based decision-making. With this partnership, we are now addressing the second challenge—ensuring projects are well-prepared and bankable. The JPPF will allow us to mobilize over US$1 billion in investments and accelerate the creation of resilient, inclusive, and sustainable cities across Africa.”

Strengthening Africa’s Multilateral Cooperation

Both Afreximbank and ShafDB are members of the Alliance of African Multilateral Financial Institutions (AAMFI), reinforcing their commitment to collective problem-solving and innovation in financing development. Their partnership is a testament to how African institutions are stepping up collaboration to deliver transformative outcomes for the continent.

IATF2025 as a Launchpad for Growth

The signing took place during IATF2025, one of Africa’s most significant trade events, held from 4 to 10 September. This year’s fair is expected to generate over US$44 billion in trade and investment deals, underlining its importance as a platform for advancing Africa’s development agenda.

By anchoring the JPPF within this context, the two banks have positioned their partnership not only as a financing tool but also as a catalyst for trade, investment, and regional integration.

Outlook

With the JPPF, Afreximbank and ShafDB have laid the groundwork for a new era of infrastructure-led transformation in Africa. The initiative will address Africa’s critical housing deficit, promote industrialization, and attract significant private sector investment—all while equipping institutions with the skills to sustain a pipeline of impactful projects.

As Africa’s urban population continues to grow rapidly, this collaboration could be pivotal in ensuring that development keeps pace with demand, laying the foundation for inclusive, sustainable, and competitive African cities of the future.