Kenya has placed a representative in the Pan-African financial institution Shelter Afrique Development Bank, raising its bargaining power as it targets to raise billions of shillings to fund the affordable housing.
Shelter Afrique on Tuesday announced that former Benin Prime Minister, Lionel Zinsou has been elected as its chair of the Board, while Kenya’s Tourism Secretary Said Athman Mtwana will be the vice-chairman.
Mr Zinsou replaces Nigeria’s Chii Akporji while Mr Mtwana replaces Ahmed Belayat, Shelter Afrique said.
“The elections were concluded during the 149th Meeting of the Board of Directors held on 11 December 2025,” it said in a statement.
Mr Zinsou is an economist, seasoned investment banker, and former Prime Minister of the Republic of Benin (2015–2016).Mr Mtwana, on the other hand, has been elected to represent Group 1 Member States in the development bank.
His election comes as the government positions itself to tap more funding from Shelter Afrique as it transitions from a Housing Company to a development bank, as revealed during recent presentations in Parliament.
“I look forward to working closely with the Board and Management to deepen ShafDB’s impact, advance innovative urban development solutions, and uphold the governance needed to deliver lasting, inclusive growth across our Member States,” Mr Mtwana said.
Shelter Afrique Development Bank Managing Director, Thierno-Habib Hann, said the two leaders would be instrumental during Shelter Afrique’s transition to a development bank.
“As we deepen our transformation into a fully-fledged Pan-African Development Bank, their guidance will be instrumental in advancing innovative housing finance solutions, strengthening partnerships, and accelerating inclusive, climate-resilient urban development across our Member States,” Mr Hann said.
Kenya's Ministry of Foreign Affairs in a recent presentation to parliament revealed that the government was banking on the revamped Shelter Afrique to fund its affordable housing project (AHP), amid disclosures that no developer has sought State backing to seek loans from local banks.
“The partnership is expected to strengthen intra-African trade in building materials and financial services and support the Government's affordable housing agenda,” the Ministry said.
At least 44 African countries, the African Development Bank (AfDB) and the African Reinsurance Corporation (African-Re) are shareholders at Shelter Afrique.
The company has funded projects valued $319.5 million (Sh41 billion in current exchange rates) through project finance, lines of credit and equity investments since 1993, the government says.
