Stakeholders in the African housing sector, including Rwanda, have decided to find ways to explore ways to improve the affordability of housing units by setting a housing unit target as low as 10,000,000 Frw to try to alleviate the housing shortage.
Speaking at the conclusion of the 37th Annual General Assembly and Conference of the African Union for Housing Finance (âAUHFâ) held in Kigali, the President of the AUHF and CEO of Shelter Afrique, Andrew Chimphondah noted only from the top, they are keen to develop housing units with a sale price of $ 10,000 or less (10,000,000 Rwf).
âSome of the key trends include innovations in informal income subscription; opportunities to be found in real estate technology; new and innovative financing approaches; green and climate resilient housing; develop local capital markets, improve the efficiency and performance of the housing value chain on the African continent and, most importantly, step up efforts to provide exceptionally affordable housing at a selling price of less than $ 10,000 âChimphondah said.
He noted that in a post-Covid environment where everyone’s resources are limited, more needs to be done with much less.
“What this means is that we need to improve the efficiency of our housing industry and the processes it involves so that we can dramatically reduce construction costs and improve affordability,” Chimphondah added.
The conference which attracted more than 550 participants from all over the world was chaired by the Minister of Infrastructure, Amb. Claver Gatete, who shared Rwanda’s ambitious affordable housing program.
âNew housing innovations have enabled and continue to enable Rwanda to improve slums without having to relocate beneficiaries. prices should not exceed $ 35,000 â, Amb. said Gatete.
From innovation and technology through the housing system, the conference has also been used by leading institutions such as Shelter Afrique, UN Habitat, the African Development Bank, iLima Foundry, the Center for Affordable Housing ( CAHF), Reall and others to announce initiatives and developments. that are likely to accelerate sustainable affordable housing solutions across the continent.
At the conference, members released the Kigali Declaration for Affordable Housing in Africa, expressing their commitment to work together to leverage their diverse capacities, drawing new frontiers in the provision of affordable housing across the continent and In each country.
âThe Declaration sets out the main commitments of the AUHF and its members, and urges governments, development finance institutions and support organizations, as well as other actors in the African affordable housing sector to work together towards the pursuit of these objectives, âChimphondah concluded.