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Africa stakeholders eye housing units valued below Sh1.1m

REAL ESTATE
By Moses Omusolo | November 11th 2021
By Moses Omusolo | November 11th 2021
REAL ESTATE
Shelter Afrique Chief Executive Andrew Chimphondah speaking at the close of the 37th Annual General Meeting and forum of African Union for Housing Finance (AUHF) in Kigali, Rwanda, recently. [Courtesy]

Stakeholders in the housing sector are exploring ways of making housing units in Africa affordable to buyers to address the biting shortage.

Speaking at the close of the 37th Annual General Meeting and forum of African Union for Housing Finance (AUHF) in Kigali, Rwanda, recently, Shelter Afrique Chief Executive Andrew Chimphondah (pictured) said developing housing units valued below $10,000 (Sh1.1 million) is possible.

“In a post-Covid environment, we need to improve the efficiencies of our housing sector to reduce the construction cost and improve affordability,” said Chimphondah who is also the AUHF chairman.

The event which attracted over 550 delegates, provided a platform for global learning, sharing insights and networking in the housing sector.

 It was presided over by Rwanda’s Minister of Infrastructure Amb Claver Gatete, who said innovations will enable Kigali to upgrade slums without relocating the beneficiaries.

“Rwanda has also introduced various housing incentives such as the 100 per cent infrastructure subsidies for low-cost quality housing developments whose selling prices should not exceed $35,000 (Sh4 million),” Gatete said.

The event was used by entities such as Shelter Afrique, UN-Habitat, the African Development Bank, iLima Foundry, the Centre for Affordable Housing, Reall among others to announce groundbreaking initiatives and developments across the continent.

The forum provided a platform for leaders to share best practices. It offered local developers access to ideas, technology and global contacts.

“We hope that these new ideas will speed up the development of the affordable housing sector across the continent,” said Centre for Affordable Housing Finance Executive Director Kecia Rust, who also serves at the AUHF’s Secretariat.

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