Tags: Online English EssayEffective College Essay TopicsResearch Paper Design MethodologyFacione Critical ThinkingBar And Grill Business Plan TemplateEssays And Reviews SummaryOriginal Research Paper Primary LiteratureDisadvantages Of Science EssayWriting An Outline For An EssayPast Dissertations Psychology
Nigeria: Nigeria as we know is often referred to as the Giant of Africa owing to its large population and economy.It is the most populous country in Africa with an estimated housing deficit of 20 million homes.
Côte d’Ivoire Côte d’Ivoire aka Ivory Coast is known to be the world’s largest producers and exporters of coffee and palm oil which once boasted the strongest economy in West Africa.
The devastating effects of civil war in 2001 affected the economy leading to poverty and economic struggles.
Uganda: A recent survey related to housing by the Uganda Bureau of Statistics revealed that Uganda has a housing deficit of approximately 1.7 million habitable housing units.
It is reported that Kampasla alone has a housing deficit of 550,000 units.
The primary constraint in the mortgage sector is the lack of more permanent access to long-term funds, which are now made available on an ad hoc basis by international development banks such as the European Investment Bank.
With the emergence of private real estate developers many housing and mortgage sectors are growing quickly who have partnered with commercial banks to offer mortgages to the citizens who cannot afford outright purchases.The Uganda government also partnered with private sectors taking the onus on themselves to improve infrastructure such as water, sewerage, electricity and roads.These combined initiatives have created a boom in the housing sector.While there have been local and global investors who are investing in most affordable housing projects, we also look at how Government bodies facilitate in meeting the requirements through various schemes and policy initiatives that are favourable to the low-income groups.Here are a few countries that experience severe deficit and need due attention with respect to the affordable housing scenario in Sub Saharan Africa.Aside of government aided projects, a number of private real estate developers have been playing a pivotal role in making affordable homes a reality.The private companies have made significant contributions in satisfying the demand of middle and low- income citizens for apartments and other high-end houses by fully funding the cost of homes and employing different mechanisms such as microfinance and low interest loans to transfer properties.There’s an estimated shortage of at least 1.2 million units in Ethiopia.The government of Ethiopia has addressed the public’s demand for residence and employing various condominium housing schemes that has largely benefited low and middle-income citizens.To address this issue, the ministry of housing in Ghana has proposed an annual delivery of 85,000 homes over the next decade.The government is also working towards facilitating creative financing schemes that improves overall affordability and access to modern communities for all working class citizens.