Shelter Afrique Development Bank (ShafDB) and the African Union (AU) have signed a groundbreaking Memorandum of Understanding (MOU) to collaborate on addressing Africa’s critical housing and urban development challenges.

The partnership which confers Shelter Afrique an Observer Status at the African Union, aligns with Agenda 2063 and underscores a shared commitment to ensuring a high standard of living, quality of life, and well-being for all African citizens.

The MOU outlines key areas of cooperation aimed at tackling Africa’s housing deficit, promoting sustainable urban development, and advancing capacity-building efforts.

With approximately 53 million housing units required across the continent and a $1.4 trillion financing gap, this partnership will leverage innovative solutions, resource mobilization, and policy development to create lasting impact.