Kigali, 5^th November,2021- Every year, the African Union for Housing Finance (AUHF) holds a Housing Finance Conference in conjunction with its Annual General Meeting (AGM). The conference is the only established event known to connect international, African and regional stakeholders to Africa’s fast evolving affordable housing sector. This year, the 37th annual AUHF connected in-person local stakeholders in Kigali with a live international virtual audience from 02-04 November 2021.

Minister Claver Gatete stressed that, Cities are a source of wealth and growth. In fact, no country has reached middle income status without a high level of urbanization. Cities connect knowledge and innovation, people and opportunities, workers and jobs, capital and investments. But rapidly growing cities face challenges. Cities can also be a source of productivity but they require transportation systems, electricity, water and sanitation infrastructure, housing and other services. The rapid urbanization we are seeing is putting increasing pressure on the capacity of the public and private sector to deliver the housing needed.  Where formal housing cannot be supplied, small-scale urban landowners fill the gap, providing much needed shelter to households struggling to afford even the most basic home.  The result is the proliferation of slums in areas vulnerable to floods, fires or even earthquakes. In the last few years, emerging markets have made great progress in addressing the challenge of safe and affordable housing but still a significant gap remains. Minster added.

In order to achieve the 2030 goal, about 300 million new housing units need to be constructed in the world. This will require a vast investment; which governments alone cannot shoulder. It also calls for smart policies that help cities avoid the downsides of urbanization