MATERIA is establishing a regional Urban Housing Fund in partnership with a prominent private equity group to tackle the urgent need of affordable housing in Africa.
Africa has the fastest growing cities in the world, with 40% of the continent’s one billion people living in town and cities (UN Habitat). Over 90% of them are not able to access the existing housing market and hence are either renting or living in informal dwellings offering appalling conditions. Affordable Housing in Africa is not only a huge issue, but also an incredible scalable opportunity for the socially-minded developers that will be able to address it maintaining true affordability and scalability.
MATERIA has envisaged and established an innovative approach to affordable housing construction, through an incremental housing system that allows to provide inexpensive starter houses, which can then be expanded by residents over time as their family grow and/or as their income allows. Each house is modular and built by materials produced and/or sourced locally, which allows for creating local value chains.
Investing in Affordable Housing in Africa today allows us to benefit from strong government support to create scalable impact projects that build on novel technology & design to leverage a clear first-mover advantage and create high-barriers to entry. MATERIA aims to become the regional leader in the development of large affordable housing communities across Africa, and to build a diversified portfolio of affordable housing projects in selected countries.