The housing deficit is high for Africa economies due to its high population growth, urbanization, rising construction cost, poor planning amongst others. Africa’s rising population will need accommodation; however, in a virtual work environment, relocating to major cities may prove less attractive.
In Kenya housing shortage is estimated at 2 million units while in Nigeria it is estimated at 17 million units according to the International Finance Corporation (IFC). This presents an opportunity for investors to take advantage of the huge demand in Africa’s real estate sector.
We believe this will drive the development of suburb areas across Africa, and further give rise to the development of new towns and cities across Africa. Other opportunities include private investments in roads construction, water generation, distribution & metering and waste recycling