ShafDB and Afreximbank Seal Strategic Deal to Unlock US$1B Investment in Africa
Shelter Afrique Development Bank (ShafDB) and the African Export-Import Bank (Afreximbank) have signed a landmark Joint Project Preparation Facility (JPPF) Framework Agreement expected to unlock at least US$1 billion in cumulative investments to accelerate housing, urban development, and trade across Africa.
The agreement was formalised on the sidelines of the fourth Intra-African Trade Fair (IATF2025) in Algiers by ShafDB Managing Director and Chief Executive Officer, Mr Thierno-Habib Hann, and Afreximbank’s Managing Director of Export Development, Ms Oluranti Doherty.
Under the JPPF, the two institutions will provide early-stage project preparation financing to move projects swiftly from concept to bankability. Priority sectors include housing, building and construction, healthcare, hospitality and tourism, industrial development, building materials manufacturing, commercial and residential infrastructure, and logistical platforms such as industrial parks and special economic zones.
Beyond financing, the facility also incorporates a strong capacity-building component to train ShafDB staff in project preparation skills, ensuring a sustainable pipeline of bankable projects.
Ms Doherty hailed the collaboration as a timely boost for sustainable development on the continent. She said: “We are thrilled to collaborate with Shelter Afrique Development Bank to accelerate sustainable urban development across Africa. By combining ShafDB’s expertise in housing and urban development with Afreximbank’s project preparation experience, we are poised to unlock new opportunities that will not only deliver transformative projects but also establish economic hubs to promote trade and tradeable services.”
Mr Hann emphasised that the facility directly addresses structural barriers in Africa’s housing and urban development sector. He noted: “Our sector faces two major structural challenges: the lack of reliable data and the insufficient preparation of projects. While our VIRAL model already provides a robust data-driven framework, this partnership tackles the second challenge head-on. With the JPPF, we can move projects from concept to bankability with speed and precision, unlocking over US$1 billion in investments to build resilient, inclusive, and sustainable cities across Africa.”
Both Afreximbank and ShafDB are members of the Alliance of African Multilateral Financial Institutions (AAMFI), reflecting their commitment to collaboration and innovation in fostering economic growth.
The announcement comes as IATF2025 wraps up in Algiers, where trade and investment deals valued at more than US$44 billion are expected to be concluded.
