African Export-Import Bank (Afreximbank) and Shelter Afrique Development Bank (ShafDB) have signed a Joint Project Preparation Facility (JPPF) Framework Agreement aimed at unlocking more than US$1 billion in investments across Africa’s housing, construction, and urban infrastructure sectors. The deal marks one of the most significant collaborative efforts in recent years to address the continent’s mounting housing deficit and growing demand for sustainable cities.
The agreement was signed at the fourth Intra-African Trade Fair (IATF2025) in Cairo by Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Thierno-Habib Hann, Managing Director and CEO of ShafDB. The JPPF will provide early-stage financing to move projects from concept to bankability, a step that has traditionally stalled many large-scale African developments.
The facility will target key sectors such as construction, housing, healthcare, hospitality, tourism, and the manufacturing of building materials, alongside commercial and residential infrastructure. It will also support industrial and logistics platforms including special economic zones, positioning Africa to capture greater value in its urbanisation and industrialisation drive.
Doherty said the partnership combines complementary strengths to accelerate economic transformation. She said, “We are thrilled to collaborate with Shelter Afrique Development Bank to accelerate sustainable urban development across Africa. This partnership aligns with our shared vision of promoting economic growth and enhancing the quality of projects on the continent”.
she added that, “By combining ShafDB’s expertise in housing and urban development and Afreximbank’s extensive experience in project preparation, we are poised to unlock new opportunities and deliver transformative projects in critical sectors that will amongst other benefits establish economic hubs and platforms that will promote trade and tradeable services. The JPPF will act as a catalyst for private sector investment, leading to substantial socio-economic development across the continent. Furthermore, our capacity-building programme will equip ShafDB staff with essential project preparation skills, ensuring sustainable project pipelines in the years to come.”
Hann highlighted how the facility addresses structural weaknesses that have hampered growth. Saying, “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.”
He continued to say that “today, we are proud to tackle the second challenge through this strategic partnership with Afreximbank. The Joint Project Preparation Facility will enable us to move projects from concept to bankability with speed and precision, unlocking over US$1 billion in investments. This is a transformative step toward building resilient, inclusive, and sustainable cities across Africa.”
The JPPF also includes a capacity-building programme to strengthen ShafDB’s project preparation teams, ensuring a steady pipeline of bankable initiatives and reducing the continent’s reliance on foreign-led development planning.
Both Afreximbank and ShafDB are members of the Alliance of African Multilateral Financial Institutions (AAMFI), a grouping that promotes cooperation among Africa’s financial institutions to boost trade, investment, and sustainable growth.
The agreement comes at a time when Africa faces a housing shortfall of over 50 million units, with rapid urbanisation intensifying the strain on infrastructure. Analysts say the facility could attract private capital into projects that would otherwise stall at the feasibility stage, creating a multiplier effect for industries ranging from construction materials to logistics.
IATF2025, where the deal was signed, is expected to facilitate over US$44 billion in trade and investment deals, underscoring Africa’s ambition to strengthen intra-continental commerce and industrialisation.
