Shelter Afrique Development Bank and Vista Group Holding have signed a memorandum of understanding to strengthen financing for affordable housing in West Africa, as countries across the region face growing demand for homes.

The agreement was signed in Bangkok on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group. It aims to mobilise long-term funding and provide technical expertise for housing projects in markets where Vista operates.

Under the partnership, the two institutions intend to explore financing mechanisms to support affordable housing development, improve access to funding for property projects and strengthen cooperation with stakeholders across the housing sector.

Vista Group’s presence in several West African markets could help identify projects and connect developers with financing opportunities. Shelter Afrique Development Bank, a pan-African institution focused on housing and urban development, is expected to contribute its expertise in housing finance and project development.

The agreement comes as West African countries face a significant housing deficit, driven by rapid urbanisation, population growth and limited access to affordable mortgages. The cost of construction, restricted access to long-term credit and the limited purchasing power of many households remain major obstacles to home ownership.

By combining financial resources and technical expertise, the partnership seeks to help address some of these constraints and encourage the development of housing that is accessible to a wider section of the population.

However, the memorandum of understanding establishes a framework for cooperation rather than confirming the immediate disbursement of funds or the launch of specific housing projects. Its impact will depend on the financing arrangements eventually agreed, the projects selected and their ability to deliver homes at prices households can afford.

The institutions have not publicly detailed, in the information available, the total amount of financing expected under the partnership or the number of housing units it could support.

The agreement reflects broader efforts to expand long-term financing for housing in Africa, where the gap between demand and the supply of affordable homes remains a major challenge for governments, financial institutions and property developers.