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A vast majority of African cities are becoming homes to thousands of people everyday, thanks to the rapid urbanisation, population explosion, migration and influx in major cities.There’s an unparalleled demand for affordable homes across Africa, particularly in regions such as Kenya, Ghana, Nigeria, Ethiopia, Nigeria, South Africa, Côte d’Ivoire and Uganda.The Uganda government also partnered with private sectors taking the onus on themselves to improve infrastructure such as water, sewerage, electricity and roads.
The private investors have partnered with the government to improve the health and living conditions of the poor by providing affordable sanitation, water pumps and other basic facilities.
South Africa South Africa being a significant backdrop of well developed finance sector and property markets, suffers a deficit of nearly 2.5 million homes.
Despite good credit markets, the access to mortgage finance is highly limited to high income earners.
The Government however, addresses the affordability challenge by focusing on the supply side, providing houses to low income households as part of a comprehensive subsidised programme in which government is the delivery agent.
Kenya: The housing deficit in Kenya, constitutes of nearly 2 million and continues to grow at a rate of about 200,000 units a year.
There’s increased proliferation of informal settlements in urban areas with a whopping 61 percent of the urban population living in slums in overcrowded homes typically with only one room and no adequate ventilation which proves to be detrimental to the health of these people.
Nigeria: Nigeria as we know is often referred to as the Giant of Africa owing to its large population and economy.
It is the most populous country in Africa with an estimated housing deficit of 20 million homes.
Côte d’Ivoire Côte d’Ivoire aka Ivory Coast is known to be the world’s largest producers and exporters of coffee and palm oil which once boasted the strongest economy in West Africa.
The devastating effects of civil war in 2001 affected the economy leading to poverty and economic struggles.