Written By | Mike Omuodo
AGM Delegates
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Rabat, Morocco
Shelter Afrique Development Bank (ShafDB) has announced a strong financial performance for the year ended 31 December 2025, underscoring the institution’s continued progress toward financial sustainability and its growing impact on affordable housing and urban development across Africa.
The Bank recorded a comprehensive profit of US$2.14 million, a 20% increase from the US$1.79 million reported in 2024. This improved performance was driven by strong growth in lending activities, stable revenue streams, enhanced treasury performance, and gains from strategic investments.
AGM Session
During the year, ShafDB continued a tempered resumption of new business underwriting. Loan disbursements rose by 162% to US$63 million, up from US$24.06 million in 2024. This contributed to a 29% growth in the Bank’s net loan portfolio, which increased from US$134.78 million to US$174.08 million.
The Bank’s balance sheet strengthened further, with total assets growing by 12% to US$235 million, compared to US$208 million in the previous year. Shareholders’ funds increased to US$176.09 million, supported by profit generation and additional capital subscriptions.
Despite an increase in operating expenses associated with institutional transformation and business growth, ShafDB maintained a positive comprehensive profit of US$2.14 million. Interest income remained stable at US$18.62 million, reflecting the resilience of the Bank’s core lending operations.
The most transformative milestone for the institution in 2025 was the US$120 million concessional facility secured from the Arab Bank for Economic Development in Africa (BADEA). This facility, part of the Capital Increase Programme, is designed to help Member States normalize their subscriptions and pave the way for an investment-grade credit rating.
During the year, the Bank also successfully mobilized an additional US$50 million facility from the African Export-Import Bank (Afreximbank), enhancing its capacity to support affordable housing projects and urban infrastructure development across the continent.
Lionel Zinsou -ShafDB Board Chairman
ShafDB achieved significant progress in implementing its Treasury and Capital Markets strategy. The Bank successfully established its capability to structure synthetic local currency financing solutions, helping mitigate foreign exchange risks for borrowers and improving alignment between project revenues and financing obligations.
In addition, preparations are advanced for the Bank’s inaugural FCFA 60 billion Sustainable Bond Programme in West Africa, alongside approval to establish a US$500 million East Africa Sustainable Bond Programme. These initiatives position local capital markets as an important source of long-term development financing.
Commenting on the results, Mr. Lionel Zinsou, Chairperson of the Board of Directors of Shelter Afrique Development Bank, said:
“The Bank’s performance in 2025 reflects the successful execution of our transformation agenda and the strength of our governance, strategy, and partnerships. Achieving profitability while significantly expanding our lending activities demonstrates the sustainability of our business model and our ability to create lasting value for our shareholders, investors, and member states. As Africa continues to urbanize at an unprecedented pace, Shelter Afrique Development Bank remains committed to mobilizing capital at scale to support affordable housing, sustainable cities, and inclusive economic growth across the continent.”
Thierno-Habib Hann, Managing Director and Chief Executive Officer of Shelter Afrique Development Bank, added:
“The 2025 results mark another important milestone in our journey to becoming Africa’s leading housing and urban development finance institution. We grew our loan portfolio by nearly 30%, increased disbursements by 162%, strengthened our balance sheet, and diversified our funding sources while maintaining profitability. Equally important, we laid the foundation for future growth through new capital market initiatives, local currency financing solutions, and strategic partnerships that will enable us to scale our impact and better serve our clients across Africa.”
Mr. Hann further noted that the Bank will continue to focus on delivering innovative and sustainable financing solutions that address Africa’s housing deficit, support climate-resilient urban development, and improve the quality of life for millions of Africans.
“The strong momentum achieved in 2025 positions us well to accelerate implementation of our development mandate and create even greater impact in the years ahead,” he said.
Thierno Habib Hann, ShafDB CEO
Looking forward, ShafDB will continue to focus on expanding its funding base, deepening local currency financing capabilities, strengthening its presence in African capital markets, and enhancing balance sheet efficiency to support sustainable growth and long-term development impact.
About Shelter Afrique Development Bank:
Established in 1981 in Lusaka, Zambia, and headquartered in Nairobi, Kenya, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable housing, urban development, and related infrastructure. It operates with a shareholding of 44 African governments and two institutional shareholders: the African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re).
The institution finances housing and related infrastructure across the value chain, on both the demand and supply sides, through its four business lines: Financial Institutions Group (FIG), Project Finance Group (PFG), Sovereign and Public-Private Partnerships (PPP) Group, and Fund Management Group (FMG).
