In February 2016, the African Development Bank approved a US $8.2 million equity investment in Africa’s housing and habitat company Shelter Afrique in order to boost the provision of affordable housing on the continent (AfDB, 2016).
The AFDB decision marks an important step toward the provision of more affordable housing in Africa, as the majority of households still cannot afford basic formal housing or access mortgage loans. In 2014, only 5 percent of adults in Sub-Saharan Africa took a mortgage loan from a formal bank, according to the World Bank (2015).
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