Abuja, May 15, 2026 The Convener of the 2026 Cooperative Housing Summit Africa (CHOSA-AFRICA), Mr. Yemi Adelakun, has said that cooperative housing is increasingly being viewed as a viable strategy for tackling Africa’s widening housing deficit.
Adelakun made this known during a press briefing in Abuja ahead of the summit, noting that the model offers a more accessible path to home ownership, particularly for low- and middle-income earners.
He explained that many Africans continue to struggle with owning homes due to high interest rates, limited access to housing finance and unstable income levels.
According to him, these challenges have weakened the effectiveness of conventional mortgage systems in many countries across the continent.
Adelakun said cooperative housing provides an alternative approach by enabling individuals to combine resources to build or acquire homes at more affordable costs.
He also pointed out that rapid population growth and urban expansion in African cities are placing additional pressure on already limited housing infrastructure.
He called for stronger collaboration among relevant stakeholders to address the housing gap and improve access to affordable accommodation in Nigeria and other African countries.
The summit is expected to bring together participants from across Africa to exchange ideas and explore practical solutions to the continent’s housing challenges.