Africa’s urbanization process is creating one of the largest long-term investment opportunities of our time in the fields of housing, infrastructure, climate-resilient construction, logistics and technology, UN Deputy Secretary-General Amina Mohammed said during the “Investor Session on Partnerships for Affordable Housing in Africa” organized within the framework of the World Urban Forum (WUF13), APA-Economics reports.
She said that home is one of the first places where human potential is shaped. However, more than 1.1 billion people worldwide currently live in informal settlements, while more than 300 million people have no shelter at all.
A. Mohammed noted that although a large part of this problem falls on Africa, the continent also possesses solutions and great potential.
According to her, Africa’s population will reach 2.5 billion by 2050, and the main part of this growth will occur in cities. This will create broad investment opportunities in housing, utility infrastructure, climate resilience, the construction industry, urban economy, technology and innovation.
The UN Deputy Secretary-General emphasized that urbanization and housing issues have been identified as one of the main priorities in the African Union’s “Agenda 2063” strategy. The goal is to ensure that all Africans have safe, clean, well-planned and affordable housing.
A. Mohammed stated that the next key task is to transform political commitments into concrete projects, connect national strategies with financial resources, bring technical capacities together with implementation partners and create investment-ready projects.
According to her, affordable housing is not only a housing issue, but also plays an important role in reducing poverty, protecting health, promoting gender equality and strengthening resilience against climate change.
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