Amid growing housing deficits, rapid urban growth, and the soaring cost of home ownership across Africa, stakeholders are calling for greater adoption of cooperative housing schemes as a viable approach to addressing the continent’s affordable housing crisis affecting millions of people.

At a press conference ahead of the Cooperative Housing Summit Africa(CHOSA AFRICA 2026), Convener of the summit, Yemi Adelakun, said cooperative housing has become one of the most realistic pathways to reducing Africa’s widening housing deficit, especially for low and middle-income earners shut out of conventional mortgage systems.

He explained that many Africans continue to struggle with home ownership due to high interest rates, limited access to long-term financing, and unstable income levels, making traditional housing finance difficult to access.

According to him, cooperative housing allows individuals and groups to pool resources together, thereby making land acquisition, housing development, and repayment structures more affordable and accessible to ordinary citizens.

Adelakun noted that beyond providing shelter, cooperative housing also promotes community development, social inclusion, and economic empowerment by enabling members to collectively own and manage housing projects.

He said the model has proven successful in several countries where citizens are able to access decent housing through shared financial responsibility and long-term planning.

He further stressed the need for governments, financial institutions, private developers, and development partners to create policies and funding mechanisms that would encourage the growth of cooperative housing initiatives across Africa.

According to him, supportive regulations and affordable financing are critical to ensuring that more people benefit from the model.

The convener added that the upcoming summit would bring together policymakers, housing experts, investors, cooperative societies, and other stakeholders from across the continent to discuss innovative strategies, partnerships, and sustainable solutions aimed at tackling Africa’s housing challenges and expanding access to affordable homes.