“Industrial development must meet human needs”

Oluranti Doherty’s speech at Shelter Afrique’s 44th Annual General Meeting provided fresh perspectives to the discussions. During the session on ‘industrialisation and the adoption of sustainable construction materials and technologies’, the Managing Director in charge of export development at Afreximbank presented the concrete results of a partnership that is redefining the rules of development financing in Africa.

This collaboration between Afreximbank and Shelter Afrique, she noted, goes beyond the traditional framework of institutional agreements. It embodies a new vision in which industrial development and social housing converge to create an inclusive growth model.

The two institutions have jointly developed a comprehensive financial toolkit: dedicated credit lines, innovative guarantee instruments and project preparation mechanisms specifically designed to support sustainable urbanisation around industrial hubs. This integrated approach makes it possible to mobilise substantial resources while pooling the sectoral expertise needed for large-scale projects.

However, innovation goes beyond financial instruments. Oluranti Doherty explained how Afreximbank is redefining its role to become a catalyst for transformation. “We also deploy policy support and advocacy tools. When we work with African governments, we don’t just finance projects – we help build the regulatory frameworks that make them possible. ‘

Housing as the foundation for sustainable industrialisation

This conviction has been forged through experience on the ground. Across the continent, industrial zones that lack decent housing for their workers struggle to reach their potential.

’We have seen that in projects such as the Mawengo Industrial Park in Malawi. It was essential to integrate urban housing, schools and services. Industrial development must meet human needs, otherwise it remains fragile,” Oluranti Doherty emphasised.

This proven observation now guides Afreximbank’s intervention. The bank supports governments in reviewing industrial policies, modernising land tenure systems and adapting market access conditions for private investors. This upstream intervention creates a favourable regulatory environment that secures long-term investment while attracting the private sector.

Afreximbank’s partnership with Shelter Afrique is helping to make this vision a reality. Together, the two institutions are creating comprehensive ecosystems where industrial infrastructure and social housing complement each other. This holistic approach builds workforce loyalty, attracts investors and generates an economic network that multiplies the impact of initial investments.

The focus on small and medium-sized enterprises complements this approach. SMEs which form the backbone of the economic fabric in industrial zones, benefit from privileged access to finance and increased visibility opportunities.

Oluranti informed her audience that the next Intra-African Trade Fair in Algiers, planned for 4 to 10 September 2025, will showcase this approach. Afreximbank will participate actively, in collaboration with the Algerian Ministry of Housing, to identify local players in the urban housing sector and offer them a continental platform.

‘We see this event as a showcase for SMEs engaged in urban housing development. We are working with the Algerian Ministry of Housing to identify local players to highlight,’ said Oluranti Doherty.

This partnership and its outcomes prove that inclusive industrialisation is a realistic goal. By making housing a key pillar of African industrialisation, the Afreximbank-Shelter Afrique alliance offers a concrete response to the challenges of continental development. ‘Inclusive industrialisation is a realistic ambition – if policies, financing and public and private actors move forward together,’ said the Afreximbank representative.