Kigali, Rwanda – June 12, 2024 – The Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has called on African Ministers of Housing to embrace innovative housing finance solutions to address Africa’s growing housing affordability crisis affecting 80 percent of the African population.

This he said is important given macroeconomic challenges and rising inflationary trends which have impacted incomes and raised the bar on housing affordability.

The Minister made this call while delivering his opening remarks at the Ministerial Roundtable themed “Innovative Financing for Housing Affordability” on the second day of the 43rd Shelter Afrique Development (ShafDB) holding at the Marriott Hotel, in Kigali, Rwanda.

The event brought together Ministers, delegates and private sector stakeholders to explore new approaches to alleviate the continent’s housing challenges.

Dangiwa highlighted Africa’s housing deficit and the housing affordability crisis affecting over 80% of Africa’s population, driven by low incomes, challenging macroeconomic conditions, and escalating living costs.


He underscored the critical need for affordable housing solutions targeting low and medium-income households, who are most affected by these economic pressures.

“These factors make it increasingly difficult for our citizens to afford decent and quality housing. With each passing year, the affordability bar keeps getting higher. Many households that could afford housing a year ago can no longer do so because of the rising cost of building materials and static incomes. I am worried about this because I believe that for us to make impact, we must find ways to design, build and facilitate delivery of affordable houses targeting the 80% of the low and medium income percentile of our population,” he noted.

Drawing on his experience as the former Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), the Chair 42nd AGM Bureau shared successful initiatives implemented in Nigeria. These initiatives include utilizing government funds to lower housing costs, engaging sub-national governments to provide land free of charge,

and creating expandable housing units that can grow with homeowners’ needs and financial capacity. Additionally, he highlighted the role of public-private partnerships (PPP) in facilitating collaborations with reputable developers to build affordable homes, incorporating cross-subsidy models to offer some units at subsidized rates.

Furthermore, he highlighted efforts in collaboration with the Ministry of Finance to establish a N1 trillion Naira concessional financing window for developers and leveraging pension funds to provide single digit mortgage loans were presented as key strategies.

Hon. Dangiwa stressed the necessity of shifting traditional financing models towards more innovative solutions tailored to Africa’s unique contexts. These include empowering low-income families with manageable loans for home improvements, unlocking capital markets to inject liquidity into the housing sector, and expanding access to credit, savings, and insurance through digital financial services, especially in underserved communities.

He also acknowledged the potential of private sector-led solutions such as the Shelter Afrique Housing Solutions Fund. This initiative aims to stimulate housing demand and scale supply by providing long-term home loans to eligible buyers, in partnership with participating lending institutions and developers.

“For us to move forward and move the needle, we must have a shift in thinking and approach. We must develop a multi-dimensional strategy to solving it,” he added.

Hon. Dangiwa called on all stakeholders, including governments, financial institutions, developers, community organizations, and international partners, to collaborate and share best practices. He emphasized the importance of robust policy frameworks, effective regulatory environments, and transparent governance to create a housing finance ecosystem that leaves no one behind.

As the roundtable discussions continue, Hon. Dangiwa urged participants to think boldly and act decisively. He expressed optimism that innovative financing strategies, coupled with collaborative efforts, could transform the future of housing in Africa, ensuring hope, opportunity, and prosperity for all.

The event featured presentations from the private sector, discussions by several Ministers of Housing who all harped on the importance of long term financing, low interest mortgage loans to ensure delivery of affordable housing to tackle Africa’s housing challenges.

Mark Chieshe

SA Media & Strategy to Hon. Minister