Africa Receives Less Than 3% of Global Housing Finance

Why this is here: Almost 20% of the world’s urban population resides in Africa, yet the continent receives less than 3% of global housing financing.

UN Deputy Secretary-General Amina J. Mohammed stated in Baku, Azerbaijan, that Africa receives below 3% of global housing finance.

She spoke at a session during the 13th World Urban Forum, emphasizing the need to align financial resources with development strategies across the continent. Mohammed noted that building sustainable urban solutions and effective implementation platforms are vital for scalable projects.

She explained that adequate housing strengthens social stability, improves health outcomes, and supports gender equality, especially as nearly 20% of the world’s urban population lives in Africa. The current housing stock’s development stage in Africa means current decisions will impact future emissions.

However, despite these benefits, a substantial imbalance exists in global housing finance distribution. The forum in Baku continues to address these issues, with events covering topics from climate resilience to smart city initiatives. The work to secure adequate housing for all continues beyond the forum’s conclusion on May 22.