Rédaction Africa Links 24 with Contributor
Published on 2024-03-31 14:49:26
Alhaji Salamu Amadu, CEO of Afro-Arab Property Limited, is a Ghanaian tycoon who recently attended the Forty under 40 Africa awards in Nairobi and is now looking to invest in the Kenyan housing sector. His company, Afro-Arab, is involved in various areas, including property development.
Amadu’s interest in Kenya’s affordable housing project, spearheaded by President William Ruto’s government, stems from his belief that addressing the housing problem in Kenya and Africa should prioritize solving the issue over making profits. His dedication to providing quality housing as a basic human right rather than a business opportunity earned him recognition at the Forty under 40 Africa awards for his contributions to real estate development.
In Ghana, Amadu has been a key figure in the housing sector, leading projects that not only offer shelter but also transform communities. His philosophy revolves around housing as a solution to the lack of adequate and affordable housing for many individuals and families. He sees everyone deserving a decent place to live and aims to make homeownership accessible without the burden of high-interest rates.
President Ruto’s ambitious affordable housing program in Kenya has motivated Amadu to expand his operations to the country. He intends to complement the government’s efforts by providing innovative housing solutions tailored to the local population’s needs. His unique payment plan allows buyers to pay a 40 percent down payment and the remaining amount interest-free over five years, making homeownership more attainable.
With Kenya’s annual housing demand at 250,000 units and only 50,000 units supplied, the housing crisis remains acute. A significant portion of the population lives below the poverty line, with many residing in informal settlements or slums. The government aims to construct 1,000,000 houses by 2027 to address these challenges.
Amadu’s vision of making housing more affordable and attainable aligns with the goal of providing decent homes for as many people as possible. By offering flexible payment options and selling in the local currency, he aims to empower individuals and families to own their homes while addressing societal needs.
Amadu’s commitment to providing quality housing solutions reflects his belief that housing should not be solely profit-driven but a means to address critical societal needs. His decision to venture into the Kenyan housing sector underscores his dedication to making homeownership a reality for the local population.
Read the original article on Africa News 24
