The 2023 Extraordinary General Meeting (EGM) of Shelter Afrique began today at Sheraton Club des Pins Resort (Hotel Sheraton Alger) in Algiers, Algeria

By Abdul Rahman Bangura-

Photo Credit: Worldometer

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- With a very sound calling from the Honorable Minister of Housing and Urban Development, Nigeria, Arc. Ahmed M. Dangiwa. The Minister, who is the Chairman of the Company’s 42nd Annual General Meeting (AGM) Bureau, underscored the implication of shareholder unity and obligation to the company’s mission to provide affordable housing solutions across Africa.

In his opening address, Arc. Dangiwa emphasized the significance of the 2023 EGM and its role in shaping the Shelter Afrique’s fate.

He applauded company’s leadership, recognizing the remarkable work of the Board and Management Team in driving the organization toward development, profitability, and a more substantial impact on housing development across the continent.

“Today, we are convening this EGM to discuss and take decisions on the pending matters. Through objective discussions, we are optimistic that we would conclude and approve the Company’s revised Statutes. Doing so will mark a momentous milestone and would lay the foundation for a new, innovative, and impact-driven Shelter Afrique,” he said.

The Minister extended his gratitude to all Ministers and shareholders for their commitment, willingness to support reforms and various contributions towards strengthening Shelter Afrique’s position as a leader in the delivery of affordable housing in Africa. He applauded their collective resolve to address Africa’s housing challenges and the noble shared commitment to the people they serve in their respective countries.

Highlighting Shelter Afrique’s recent challenges between 2020 and 2021, Dangiwa reported substantial progress in the revision of the Company Statutes. He mentioned the engagement of a reputable law firm and numerous bilateral and multilateral reviews, resulting in broad shareholder consensus on key issues in the Company’s revised Statutes. He noted that the EGM’s primary objective was to finalize and approve these revised Statutes, setting the stage for a renewed, innovative, and impactful Shelter Afrique.

Similarly, the Hon. Minister called upon all…to embrace the spirit of objectivity, reason, and concession during discussions, always with a focus on strengthening Shelter Afrique’s capacity to facilitate the rapid delivery of affordable housing solutions.

“As we begin this EGM, I want to urge all shareholders to embrace the spirit of objectivity, reason, and compromise, always focusing on what will help strengthen the Company towards achieving its goal of igniting rapid delivery of affordable housing,” he summed up.

Additionally, he described heartfelt gratitude to the Authority of Algeria for their warm hospitality. He communicated assurance that the outcomes of the EGM would position Shelter Afrique as a dynamic, innovative, and impactful housing development finance institution. One that would have the institutional and financial prowess to significantly contribute to Africa’s housing solutions.

Shelter Afrique is a pan-African finance institution that supports the development of housing and urban development in Africa. A partnership of 44 African Governments, the African Development Bank (AfDB), and the Africa Reinsurance Corporation (Africa-Re), Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent