2020 Scenes
PH: DR: Signature of the memorandum of understanding between BRVM and Shelter
The Regional Stock Exchange (BRVM) and the Shelter Afrique Development Bank (ShafDB), the pan-African multilateral bank for housing and urban development, have signed a memorandum of understanding aimed at mobilizing capital for housing projects at affordable across Africa. The regional stock exchange serving the West African Economic and Monetary Union (WAEMU) region.
The MoU establishes a framework for cooperation between the two organizations to address the growing housing deficit in Africa, which is currently estimated at over 53 million units. The partnership will focus on mobilizing financial resources through innovative instruments such as green, social and sustainability bonds (GSSS), as well as real estate investment trusts (REITs).
Alin ASSANKPON
Edoh Kossi Amenounve, CEO of BRVM, and Thierno-Habib Hann, CEO of Shelter Afrique, signed the memorandum of understanding at a ceremony held in Washington DC on the sidelines of the annual meetings of the IMF and the World Bank last week.
This cooperation is a crucial step in strengthening the capacity of African markets to finance sustainable housing development, especially in the eight WAEMU countries, namely Benin, Burkina Faso, Côte d’Ivoire, Guinea- Bissau, Mali, Niger, Senegal and Togo.
Key areas of cooperation
ShafDB and BRVM will work together to design and implement a plan to issue debt securities in the BRVM regional financial market.
The parties will explore bonds related to sustainability by promoting the use of green, gender, Islamic and diaspora bonds to support housing finance in the WAEMU region and mobilize capital and encourage investment in the community housing sector through trusts real estate investments (REITs).
Both sides also exchange knowledge, provide technical assistance and collaborate on joint research and publications to advance their common goals. Speaking at the signing event, Thierno-Habib Hann highlighted the importance of partnership in solving Africa’s housing crisis.
“This partnership with BRVM is an important step for Shelter Afrique Development Bank. With Africa’s housing deficit now exceeding 53 million units, we need to quickly scale up our efforts. This MoU allows us to mobilize the capital needed to finance affordable and sustainable housing projects across the continent “, said Mr. Hann.
“BRVM is proud to partner with the Shelter Afrique Development Bank (ShafDB) to encourage investment flows in the African housing market. This collaboration is part of our mission to promote capital markets and support sustainable development in the UEMOA region. said Edoh Kossi Amenounve
About BRVM
The Regional Securities Exchange (BRVM) is the regional securities exchange of the UEMOA. It facilitates access to capital markets for businesses and governments in eight West African countries, thereby promoting investment, economic growth and regional integration. The BRVM is committed to promoting financial inclusion and sustainable development through innovative market solutions.
About Shelter Afrique Development Bank:
Shelter Afrique Development Bank (ShafDB) is the pan-African multilateral development bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates thanks to a shareholder base made up of 44 African governments and two institutional shareholders: the African Development Bank (AfDB) and the African Reinsurance Corporation (Africa-Re).
The institution is involved in financing housing and related infrastructure throughout the value chain, both in terms of demand and supply, through its four (4) lines of activity: Group of Financial Institutions ( FIG), the Project Finance Group (PFG), the Sovereign and Public-Private Partnerships Group (PPP), and the Finance Management Group (FMG).
