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A Memorandum of Understanding (MoU) has been signed between the African Union (AU) and the Shelter Afrique Development Bank (ShafDB) to work together on tackling Africa’s critical housing and urban development challenges.
In line with Agenda 2063, the collaboration that grants Shelter Afrique Observer Status at the African Union emphasises a common dedication to guaranteeing a high level of living, quality of life, and well-being for all African residents.
Join our WhatsApp ChannelThis is part of efforts to address the a $1.4 trillion financing gap in housing and urban development in Africa.
According to experts, an estimated 53 million housing units are needed throughout the continent
The MOU lays out important areas of collaboration to address the housing shortage in Africa, encourage sustainable urban growth, and further capacity-building initiatives.
READ ALSO: Shelter Afrique Transforms Into ShafDB, Paves Way For Housing Revolution Across Africa
The agreement is expected to leverage innovative solutions, resource mobilization, and policy development to create a lasting impact.
Scope of Collaboration
The MOU emphasizes strategic collaboration in the following areas:
- Sustainable Housing and Urban Development: Joint initiatives to support environmentally sustainable and climate-resilient communities.
- Addressing the Housing Deficit: Development of strategies to reduce Africa’s housing gap and improve urban settlements.
- Capacity Building: Training programs and workshops for policymakers, developers, and stakeholders in housing and urban development.
- Resource Mobilization: Coordinated efforts to secure financial and technical resources, including partnerships with regional and international financial institutions.
- Policy Development and Advocacy: Development of conducive policies and advocacy to elevate housing and urban challenges on national, regional, and international agendas.
- Research and Technological Innovation: Collaboration on research, data collection, and the adoption of innovative technologies in housing and urban planning.
- Environmental Sustainability: Initiatives to enhance climate resilience in housing and urban infrastructure.
The agreement also includes provisions for cooperation with AU sub-bodies such as AUDA-NEPAD and the African Union Peace Fund to harmonize efforts across the continent.
Operationalization of the MOU
To ensure effective implementation, ShafDB and the AU will develop a Joint Action Plan (JAP) outlining specific activities, timelines, and review mechanisms. The collaboration may also include staff secondment arrangements and supplementary agreements to address emerging areas of mutual concern.
