Ghanaian real estate tycoon eyes Kenyas Affordable Housing sector after winning continental award

The Afro-Arab Property Limited Chief Executive Officer Alhaji Salamu Amadu  has expressed interest in participating in Kenya's affordable housing project, which is currently being implemented by President William Ruto led Kenya Kwanza government.

Afro-Arab is a group of companies dealing with several areas including the development of property. 

He believes the housing problem in Kenya and across Africa should be addressed without “thinking of the money. It is about solving a problem and not making profits.” 

His commitment to providing quality housing as a basic human right rather than purely a business venture has earned him recognition at the recent Forty under 40 Africa awards.

He was honored for his outstanding contributions to real estate development and construction.

In Ghana, the Afro-Arab CEO has been a pivotal figure in the housing sector for over a decade, spearheading projects that have not only provided shelter but also transformed communities. 

His philosophy centers around viewing housing as a means to solve a fundamental problem: the lack of adequate and affordable housing for many individuals and families.

"I believe that everyone deserves a decent place to live, and this belief drives my work," he said after receiving his award. 

"Housing should not be seen solely as a profit-making venture but as a way to address a critical societal need."

His decision to expand his operations to Kenya is influenced by President Ruto's ambitious affordable housing program, which aims to provide decent and affordable homes to Kenyans. 

He expressed his desire to complement the government's efforts by offering innovative housing solutions that cater to the needs of the local population.

One of the key aspects of his approach is his unique payment plan, which allows buyers to pay a 40 percent down payment and the remaining amount over five years, interest-free. 

This approach, he  said, not only makes homeownership more accessible but also demonstrates his commitment to empowering individuals and families to own their homes without the burden of high-interest rates.

"I want to make homeownership a reality for as many people as possible," he emphasized.

"By offering flexible payment options and selling in the local currency, I hope to make housing more affordable and attainable for the target market."

Kenya’s annual housing demand is 250,00 units, but only an estimated 50,000 units are supplied according to available statistics. 

The proportion of the total population living below the international poverty line in Kenya is 29.4 percent, with an unemployment rate of 5.5 percent, according to the World Bank.

About 6.4 million people from Kenya’s urban population live in informal settlements, while an estimated 60 percent of the capital city Nairobi’s residents live in slums. 

In rural areas, the problem is characterized by poor quality housing and a lack of basic services, such as clean drinking water.

Kenya’s government plans to construct 1,000,000 houses across the country by 2027.