By Joseph Erunke
As Africa battles worsening housing shortages, spiralling property prices, and rapid urban population growth, stakeholders have identified cooperative housing as a major alternative to the continent’s deepening affordable housing crisis.
This formed the thrust of discussions ahead of the forthcoming Cooperative Housing Summit Africa (CHOSA AFRICA 2026), where experts and industry players are expected to explore sustainable pathways to affordable home ownership for millions of Africans.
Speaking at a press conference on the summit, Convener of CHOSA AFRICA 2026, Mr. Yemi Adelakun, said cooperative housing has emerged as one of the most practical and inclusive solutions to Africa’s widening housing deficit, particularly for low and middle-income earners who remain excluded from conventional mortgage systems.
He noted that the dream of home ownership has continued to slip beyond the reach of many Africans due to rising interest rates, limited access to long-term financing, inflationary pressures, and unstable income levels.
According to Adelakun, the existing housing finance structure in many African countries has failed to accommodate the realities of average citizens, leaving millions without access to decent and affordable shelter.
He explained that cooperative housing offers an alternative model where individuals and groups pool financial resources together to acquire land, develop housing projects, and secure affordable homes collectively.
“Across Africa, millions of people are unable to own homes because the traditional mortgage system is simply beyond their reach. Cooperative housing creates a people-driven system that allows communities to come together, share resources, reduce costs, and achieve home ownership collectively,” he said.
Adelakun stressed that beyond addressing shelter needs, cooperative housing also promotes financial inclusion, social stability, community development, and economic empowerment.
He further called on African governments, financial institutions, developers, and policymakers to create enabling environments that would support cooperative housing initiatives through favourable policies, accessible financing frameworks, and stronger institutional backing.
The summit, he said, would bring together housing experts, cooperative societies, policymakers, developers, financial institutions, and international partners to deliberate on innovative strategies capable of transforming Africa’s housing sector.
Housing experts estimate that Africa’s housing deficit runs into tens of millions of units, with demand expected to rise sharply as urbanisation accelerates across the continent.
Analysts warn that without urgent and innovative interventions, the housing crisis could worsen social inequality, overcrowding, and urban poverty in many African cities.
Article Africa turns to cooperative housing as costs deepen ownership crisis – Report Live On NgGossips.
