Kingsley U.N. Chikwendu —
At its 40th Annual General Meeting held in Yaounde, the capital city of Cameroon, the Board Chairman of Shelter Afrique, Dr. Steve Mainda (EBS) said that the corona virus pandemic presented Africa with more opportunities to build affordable housing for the people to improve living and sanitation standards which he said are necessary to mitigate the pandemic.
He also said that economic growth in Sub-Saharan Africa (SSA) is understood to have declined from 2.4 per cent in 2019 to an average of 3.6 per cent in 2020 and added that it was as a result of the economic disruption caused by Covid-19.
Dr Mainda said that this collapse in economic activities may bring about increase in poverty which will more than endanger human lives and livelihoods.
“Despite the “new normal” Covid-19 environment, SHAF is back to business, Mainda said.
“The Covid-19 pandemic presents considerable opportunities to deliver decent and affordable housing to our people on the continent and improve living and sanitation standards.
“The economic crisis sparked by the pandemic and the great lockdown, negatively impacted global economic growth beyond anything experienced in nearly a century, Mainda added.
“African economies were severely impacted. Economic growth in Sub-Saharan Africa (SSA) is projected to have declined from 2.4 percent in 2019 to an average of 3.6 per cent in 2020, the first recession in SSA in 25 years.
“A collapse in economic activity in SSA arising from the COVID-19 containment measures and macroeconomic instability will increase poverty and engender lives and livelihoods”.
“As we adapt to the new operating environment, the future looks bright and we shall accordingly, focus on the following key areas: loans asset growth through quality disbursements; intensive global financial resources mobilization; enhanced corporate governance; sound enterprise risk management; and continued recruitment of a best fit and agile motivated staff complement”.
“In the face of all these, it is perhaps, fitting that we emerge from the worst of the pandemic that we chart a way for the future, giving that the many ways that the world is changing. I look forward to engaging with all of you on what this future may look like, even as we celebrate our 40th Anniversary, Dr Mainda concluded.