The Managing Director of the State Housing Company Limited (SHCL), Kwabena Ampofo Appiah, has emphasised the importance of addressing the affordable housing crisis in Africa, highlighting the struggles faced by millions of people in finding decent and affordable housing.
Mr Ampofo Appiah made the call when he addressed the pressing issue of affordable housing during his speech at the Africa Real Estate Conference & Expo 2023. The three-day conference, held at the Labadi Beach Hotel in Accra, was on the theme “the future of real estate, Sustainability and Proptech Solutions”.
Mr. Ampofo Appiah stressed that it is the responsibility of stakeholders to tackle this issue head-on.
The Managing Director acknowledged the significant challenges African countries face, such as limited resources, financial constraints, inadequate infrastructure, and a shortage of affordable land.
However, he expressed optimism that the right strategies and partnerships could overcome these obstacles and create a brighter future for current and future generations.
One of the key solutions proposed by Mr. Ampofo Appiah is collaboration between government and private developers.
By combining resources and expertise, he said, they can work together to create sustainable and affordable housing solutions. He also urged policymakers to prioritize housing in their policies.
In her welcome address, the President of GREPA, Odette Nyame-Kumi, explained that the Proptech was enabling the construction and design of green buildings and smart city initiatives.
She explained that proptech was an important change agent in advancing the application of technology tools to real estate.
She said it had also enabled companies to track their sustainability initiatives through the application of information technologies which promoted sustainable building operations.
Ms Nyame-Kumi explained that artificial intelligence was also a key player in proptech applications because it assisted companies’ website and portals to efficiently collect data from different sources to connect buyers and sellers easily.
“The real estate sector in Ghana must be fully aware that these efforts will contribute to the realisation of a sustainable society which in part also enables Ghana achieve the UN’s SDG objectives”, she stated.
She added that the potential benefits that come with integrating proptech into real estate “are very many and there’s no doubt that it will play a significant role in helping keep our cities going green drive”.
For her part, Victoria Osei Sampah, Founder and CEO of GREPA, stressed the need for real estate developers to embrace digital technology for a seamless real estate practice.
She called for strengthened partnerships among industry players and noted that the conference and expo aimed to build a stronger and more competitive real estate industry in Africa, with a particular focus on Ghana.
The Africa Real Estate Conference & Expo 2023 serves as a platform for industry professionals to share knowledge, collaborate, and explore innovative solutions to the challenges of affordable housing and sustainable real estate development in Africa.
It is also expected to encourage participants to take full advantage of the opportunities offered throughout the three-day event.