Mr Yemi Adelakun, Convener of the 2026 Cooperative Housing Summit Africa (CHOSA-AFRICA), says cooperative housing is gaining attention as a practical approach to addressing the growing housing challenges faced by many African countries.
Adelakun made the call at a news conference on Friday in Abuja ahead of CHOSA-AFRICA.
He said cooperative housing had become an effective way to reduce the housing deficit across Africa, especially for low and middle-income earners.
He also noted that many Africans still find it difficult to own homes because of high interest rates, poor access to housing loans and unstable income.
According to him, these challenges have made it difficult for many people to benefit from the conventional mortgage system.
Adelakun explained that cooperative housing allowed individuals to pool resources together to build or acquire houses at more affordable rates.
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He stressed that rapid urbanisation and population growth in many African cities continued to increase pressure on available housing.
He, therefore, called for collaborations from stateholders aimed at reducing housing deficit in the country.
The News Agency of Nigeria (NAN) reports that the summit is expected to attract participants from different African countries to share ideas and experiences on affordable housing solutions.
(NAN)
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