Africa, Needs 1.4 trln USD to Plug Affordable Housing Deficit
BY YESMAN ANTOH- NEW AFRICA DAILY NEWS, Accra, Ghana- AFRICA NEEDS more than 1.4 trillion U.S. dollars funding to effectively address the affordable housing deficit, a pan-African housing development financier said here on Tuesday. The majority of African countries are facing a housing crisis as a result of high population growth, increased urbanization, poor urban planning, dysfunctional land markets, rising construction costs, proliferation of informal settlements, and underdeveloped financial systems, said Andrew Chimphondah, managing director and chief executive officer of Shelter Afrique. The firm’s research showed that the overall shortage of housing in Africa is estimated to be 56 million housing units. Out of this, he said, more than 90%, or 45 million units, are...
Posted On 15 Aug 2019
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