Africa is growing through its cities. And every day, as people flock to urban centres in search of opportunity and change, the demand for housing grows. With an annual urbanisation rate of 3.5% over the past two decades, Africa’s cities are the fastest growing in the developing world.Currently, about 40% of the continent’s one billion people live in cities and towns; and it is estimated that in the next few years, some African cities will be home to as much as 85% of their country’s population. Difficult to contemplate in the abstract, these numbers have a very local feel. Africa’s cities are crowded and vibrant spaces. The residential opportunity is obvious.
Investors, financiers and developers understand that the market is ripe for innovation that will respond to the needs and capacities of the majority. Governments are also ready for this change, and are clearly open to proposals that will address what seem like intractable problems when tackled alone. As innovation in other markets has demonstrated, it is the disruptive business model that will alter the terrain and create new opportunities for growth. In the housing sector, this is about engaging with the reality of affordability and delivering to the market.
More concerted efforts are needed to establish affordable housing and slum upgrading at the scales needed. 4th Annual Affordable Housing Africa comes at an opportune moment providing a platform for all key stakeholders to engage at a global level, mobilise partners to redefine the role of housing in today’snew urban agenda. Attend this event to examine the critical issues facing the housing industry, explore how the housing sector can grow in the context of an economic crisis and how to deliver more with less, thereby taking advantage of the unprecedented opportunities in this sector.
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