Afreximbank and ShafDB sign agreement to unlock $1 billion in investments

The African Export-Import Bank (Afreximbank) and Shelter Afrique Development Bank (ShafDB) have signed a Joint Project Preparation Facility (JPPF) Framework Agreement expected to unlock cumulative investments of at least $1 billion, with a focus on supporting housing, urban development, and logistical infrastructure across Africa.

The agreement was signed on the sidelines of the ongoing Intra-African Trade Fair (IATF2025) in Durban by Oluranti Doherty, Managing Director, Export Development, Afreximbank, and Thierno-Habib Hann, Managing Director and CEO, ShafDB.

The JPPF will provide early-stage project preparation financing, helping projects move from concept to bankability. While the facility will support a range of sectors, it places particular emphasis on logistical platforms such as industrial zones and special economic zones, alongside building and construction, housing, healthcare, hospitality and tourism, industrial development, and manufacturing of building materials.

In addition to financing, the facility includes a capacity-building programme to strengthen project preparation skills among ShafDB staff, ensuring a sustainable pipeline of projects.

Commenting on the partnership, Doherty 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. 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.”

Doherty also mentioned that 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,” added she.

Hann highlighted the structural challenges facing Africa’s housing and urban development sector, “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 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 $1 billion in investments. This is a transformative step toward building 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 in supporting Africa’s development.

The announcement comes as IATF2025 (4–10 September) continues in Durban, where trade and investment deals valued at more than $44 billion are projected to be concluded.