- African Development Bank.
Africa’s rapid urbanization is placing enormous pressure on the limited infrastructure in many cities, and stretching municipalities financially and socially to their breaking point. Moreover, the failure of policies and the formal housing market to cater to the housing needs of the poor and lower middle-income households have translated to the growth in slum populations. Over 200 million Africans live in slums, with some cities accommodating more than 70% of slum dwellers. This Side Event will present the findings of a continental study on Africa’s housing market dynamics undertook by the African Development and UN-Habitat from October 2014 to August 2015. The objective of the study was to provide a detailed analysis of Africa’s housing market and better understand the main constraints preventing the government, private sector and other stakeholders from serving the lower end. The event will present the main findings related to the finance of housing supply and demand, access to land and infrastructure, cost and productivity in the construction sector, and slum upgrading. The key objectives of the Side Event are the following: 1. Present a detailed housing market analysis covering the African continent, while providing a snapshot of the market’s structure, documenting its main dynamics and actors, as well as the challenges and opportunities for serving the low-income households. 2. Share lessons learned from other emerging countries on solutions to the challenge of private sector provision of low-income housing, and the role of DFIs such as the AfDB. 3. Provide concrete policy recommendations on feasible financing solutions, operations and policy options that can be adopted and implemented by market actors to encourage private sector involvement in increasing access to adequate housing at an affordable cost.