The Pan-African housing development financier, Shelter Afrique in a statement has made it that most of the housing crisis faced by most African countries has been due to increased urbanisation and low supply of affordable housing.
The Shelter Afrique Chairman Daniel Nghidinua made the remarks while at the inauguration of the Karibu homes, a project they financed to enable people to have low-cost houses.
He added that the situation is compounded by lack of affordable housing finance, the high cost of urban land and weak tenure security, rising construction costs, and rapid growth in slums.
The company made it open for stronger public-private-partnership to address the issue.
“These high growth rates have given rise to a surge in demand for urban infrastructure and housing in urban areas. Unfortunately, urban planning and investment in housing are often lagging resulting in housing deficits.
The surge in demand for housing, in turn, has driven up housing prices and often pushed quality housing out of rich for the majority, especially the poor, low, and middle-income households,” Mr Nghidinua said.
According to Shelter Afrique Managing Director & CEO Andrew Chimphonda, various countries in Africa face huge backlog and hence the need for the matter to be addressed as soon as possible.
“It doesn’t matter which country you are referring to any more. Uganda is facing an annual deficit of 1.6 million housing units, Kenya 2 million housing units, Tanzania 3 million housing units, South Africa 3 million housing units, and Nigeria 17 million housing units – wherever you go, it’s a crisis, and it is incumbent upon us to heed the call to action,” Mr. Chimphondah said.
The company is committed to ensuring that it provides affordable houses in various parts of Africa as they are keen on forging smart partnerships aimed at creating growth with scale.
“We believe this challenge represents an opportunity for coordinated actions and investments by various governments, private sector players, and communities across the continent.
Through smart partnerships we want to focus on the lower end of the affordable housing market chain to be able to address this housing crisis,” Mr.Nghidinua said.
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