KIGALI, Rwanda– Affordable housing stakeholders in Africa are exploring ways of improving and delivering affordable housing units at a selling price of less than $10,000, the Chairman of the African Union for Housing Finance (AUHF) and Shelter Afrique CEO, Mr. Andrew Chimphondah has disclosed.
Speaking at the close of the 37th Annual General Meeting and conference of (AUHF) held in Kigali, Rwanda from the 2nd to 4th November under the theme “New Frontiers for Affordable Housing,” Chimphondah underscored the need for more affordable houses that will address the biting housing shortage in Africa.
“Some of the key trends covered in this year’s conference include innovations in underwriting for informal incomes; opportunities to be found in property technology; new and innovative funding approaches; green and climate-resilient housing; developing local capital markets, improving the efficiency and performance of the Housing Value Chain across the African continent and more importantly, increasing efforts to deliver exceptionally affordable homes at a selling price of less than $10,000,” Mr. Chimphondah said.
He added, “In a post-Covid environment where everyone’s resources are constrained, we need to do more with so much less. What this means, is that we need to improve the efficiencies of our housing sector and the processes it involves so that we can drastically reduce the construction cost and improve affordability.”
Rwanda’s Minister of Infrastructure, Amb. Claver Gatete who presided over the conference on his part noted that the new housing innovations have and continue to enable Rwanda to upgrade slums without the need to relocate the beneficiaries.
“The Government of Rwanda has also introduced various housing incentives such as the 100% infrastructure subsidies for low-cost high-quality housing developments whose selling prices should not exceed US$35,000.00,” Amb. Gatete said.
AUHF conference attracted more than 550 attendees from around the world, presenting a platform for global learning, sharing insights, networking, and highlighting trends in the fast-growing affordable housing sector in Africa.
Members issued the Kigali Declaration for Affordable Housing in Africa, expressing their commitment to working together in leveraging their diverse capacities, charting new frontiers in the delivery of affordable housing across the continent and in individual countries.
According to Mr. Chmphondah, “The Declaration sets out key commitments for the AUHF and its members, and urges governments, development finance institutions and support organisations, and other players across Africa’s affordable housing sector to work together in pursuit of these goals.”
Since its formation in 1984, the AUHF has evolved into a member-based, industry association of mortgage banks, building societies, housing corporations, Development Finance Institutions and other organisations involved in the mobilisation of funds for shelter and housing on the African continent.
As an industry body, the AUHF promotes the development of effective housing markets and the delivery of affordable housing across Africa, working in the interests of the members and the industry as a whole.
The AUHF is governed by a board of industry leaders elected every two years at its Annual General Body. The Centre for Affordable Housing Finance in Africa (CAHF), based in South Africa, acts as the Secretariat of the AUHF.