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.
The Ghana government, in 2019 budget has also announced GH¢1 billion mortgage and housing finance to leverage private capital which aims to expand access to housing and deepen the local mortgage and construction finance market to help bring down the housing deficit.
Ethiopia: Ethiopia’s economic growth is accompanied by a rapid urbanization rate which has posed several socio-economic challenges which includes affordable housing.
Despite good credit markets, the access to mortgage finance is highly limited to high income earners.
The Government however, addresses the affordability challenge by focusing on the supply side, providing houses to low income households as part of a comprehensive subsidised programme in which government is the delivery agent.One of the major constraints faced by citizens in Nigeria is the lack of a robust land tenure and financial system.The government estimates that the housing sector would need at least 0 billion investment over the next 25-30 years to resolve this deficit.The government of Nigeria is seeking innovative ways to attract funding for housing provision through private partnerships with financial institutions.Through raising of long term housing bonds which would guarantee provision of affordable housing for the public.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.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.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.