Afreximbank, Shelter Afrique Development Bank partner to unlock $1bn investments

Bolaji Adebiyi, in Algiers

As part of the ongoing 4th Intra-African Trade Fair in Algiers, Algeria, the African Export-Import Bank (Afreximbank) and Shelter Afrique Development Bank (ShafDB) have signed a pioneering Joint Project Preparation Facility (JPPF) Framework Agreement.
The strategic partnership aims to unlock a total investment value of at least $1 billion. It is expected to greatly transform housing and urban development across the continent, while also boosting trade and investment.
Signed on the sidelines of the IATF2025, by the Managing Director of Export Development at Afreximbank, Ms. Oluranti Doherty, and the Managing Director of ShafDB, Mr. Thierno-Habib Hann, the agreement aims to provide early-stage project preparation financing, assisting projects in progressing from concept to bankability efficiently and effectively.
The JPPF will primarily support priority sectors, including building and construction, housing, healthcare, hospitality and tourism, industrial manufacturing, commercial and residential infrastructure, as well as logistical platforms such as industrial zones and special economic zones.
Alongside financing, the JPPF also includes a strong capacity-building programme aimed at improving the project preparation skills of ShafDB staff, equipping them with essential skills to develop bankable and impactful projects.
“We are thrilled to collaborate with Shelter Afrique Development Bank to accelerate sustainable urban development across Africa,” Doherty stated after the signing, adding, “This partnership aligns with our shared vision of promoting economic growth and enhancing the quality of projects on the continent.”
She explained that combining ShafDB’s expertise in housing and urban development with Afreximbank’s extensive experience in project preparation would unlock new opportunities and deliver transformative projects in vital sectors, establishing economic hubs and platforms that promote trade and tradable services.
She emphasised that the JPPF will serve as a catalyst for private sector investment, leading to substantial socio-economic development across the continent.
“Furthermore, our capacity-building programme will provide ShafDB staff with vital project preparation skills, ensuring sustainable project pipelines in the future,” Doherty stated.
Hann of ShafDB stated that the deal would improve the bank’s ability to address the major challenges in the housing sector.
According to him, “Our sector faces two major structural challenges: the lack of reliable data and the insufficient preparation of projects. At ShafDB, we have already taken bold steps to address the first challenge through our VIRAL model — a data-driven framework designed to provide actionable insights and support evidence-based decision-making in housing and urban development.
“Today, we are proud to face the second challenge through this strategic partnership with Afreximbank. The Joint Project Preparation Facility will enable us to develop projects from concept to bankability rapidly and accurately, unlocking over US$1 billion in investments. This marks a transformative step towards building resilient, inclusive, and sustainable cities across Africa.”
Both Afreximbank and ShafDB are members of the Alliance of African Multilateral Financial Institutions (AAMFI), emphasising their dedication to collaboration and innovation in driving economic development and growth across the continent.
IATF2025, which closes today, is expected to finalise trade and investment agreements valued at over US$44 billion.