Annexure “A”

 CHAIRMAN’S REPORT TO THE EXECUTIVE COMMITTEE AND ANNUAL GENERAL MEETING OF THE AFRICAN UNION FOR HOUSING FINANCE (AUHF) IN MAPUTO, MOZAMBIQUE SEPTEMBER, 2009

INTRODUCTION

It is a pleasure to welcome you to the Executive Committee meeting and Annual General Meeting here in Mozambique.  We appreciate your continued support to our Union.  I wish to commend Fund for Housing Foment, Mrs. Maria Ribeiro and her team for the excellent work done to bring us all to Maputo.

PROGRESS REPORT

EXECUTIVE Committee Meeting Held via Tele conference

For the first time, the AUHF had to hold an Executive Committee meeting via telephone conference.  This had to be done because we stood the risk of not achieving a quorum if any of the confirmed participants failed to arrive on schedule in Banjul.  We apologize to our colleagues in The Gambia for the late cancellation of the visit.  The meeting, amongst other issues, discussed the long form audit report for the year 2008/2009 as well as took important decisions related to this Maputo conference and AGM.

AUHF/Cities Alliance

Informal Settlement Project

Last year, we were requested to approve an extension of this project to include Zambia which we acceded to.  No activity has commenced on the Zambia project yet but we have received indications that the Cities Alliance and World Bank would want to extend their collaboration with AUHF.

Partnership with Regional Bodies

We have made contact with the African Development Bank, Shelter Afrique, FMO and IFC.  We are still hopeful of a positive response from FMO but discussions with the IFC gave the impression that they would rather collaborate through the IUHF.  We have not received a response from Shelter Afrique.  African Development Bank on the other hand indicates it is currently not focused on the kind of projects AUHF could facilitate for them.

27^th World congress of the International Union of Housing Finance (IUHF)

The 27^th World Congress of the IUHF was organized under the huge shadow of the Global Financial Crisis.  Issues that had direct bearing on developing countries therefore to little attention.  AUHF members presented 2 papers and more significantly, Mr. Cas Coovadia our Vice Chairman was elected President of the IUHF.  We congratulate him once again, and hope that his new position will bring new opportunities to the AUHF.

MEMBERSHIP

THE MEMBERSHIP OF THE Union stands at 30.  it is made up of 29 institutions from 15 countries and one honorary member.  The expected membership of the Mortgage Bankers Association of Nigeria has not materialized.  We however, have a new member, the Home Finance Company of The Gambia.  The membership of HFC Mortgage and Savings (Sierra Leone) Limited has been delayed but we expect them to join soon.  The Building Societies Association of UK has resigned.

SUBSCRIPTIONS

Subscriptions received for the year amount to US$33,000 from 22 institutions.

Fees outstanding are owed from the following institutions:

• Barclays/ABSA Ghana – US$1500
• Botswana Building Society – US$1500
• NBS Bank Malawi – US$1500
• NHE Namibia – US$1500
• Savings & Loans Kenya – US$1500
• Intermarket Building Society (now ZB) Zimbabwe – US$3000
• Beverley Building Society (now CBZ) Zimbabwe – US$3000

Ø       (US$1500 recovered in 2009/2010 financial year)

STRATEGIC PLAN IMPLEMENTATION REVIEW

Building Capacity

The national mortgage data request has been simplified.  I believe responses will be received from members henceforth.  Alternatively, we can give the responsibility for collection of data to the Regional Representatives.  HFC Bank is developing a Housing Finance Programme with the Ghana Banking College.  We hope to invite the AUHF to be a joint owner of the programme.

Engagement to Government

We reiterate that members should use the informal settlement upgrading reports to start engaging government.  Governments are likely to show much interest because of the extreme challenges that slums pose to most of our countries.

Partnership with Regional Bodies

Efforts made in this regard are as stated in section 3 above. 

Regional Reports

We thank the regional representatives that have made the effort to provide reports.  We entreat other regional bodies to emulate the good examples and provide such reports periodically as requested.

Establishing a Secretariat

Our efforts have been fruitful so far.  We now need to recruit a professional with good knowledge in housing finance to man the secretariat and reduce the burden on the Executive Committee.

I would like to conclude by thanking all members for their continued support evidenced by your presence here in Maputo.  I believe our Union has a bright future.

ASARE AKUFFO

Chairman