Zambia’s housing deficit to reach 4 million by 2030

Zambia Institute for Policy Analysis and Research (ZIPAR) lead consultant Emmanuel Mutale says the country’s housing deficit has continued to increase with the deficit expected to reach 4 million housing units by 2030.

Speaking to qfm in an interview at the first banking and finance conference on housing finance in Zambia being held in Lusaka, Dr. Mutale says while the country came up with the 1996 national housing policy, the policy was not implemented resulting in the continued increase in the housing deficit.

He says the country through the national housing policy needed to be building about hundred thousand new houses per year, but that sadly the country has not been doing that.

He explains that between 1990 and 2000 the country was only building about 45,000 housing units, while from 2000 to 2010 the country was building about 73,000 housing units.

Dr Mutale adds that by 2030, the country will have a shortfall of nearly 4 million housing units which will mean building 253,000 housing units every year.

Dr. Mutale further states that the challenge is mostly within the low income sector where the majority of the population falls.

He says it is important that government and stakeholders find ways of empowering the low income class to access land and develop it.

And Zambia Institute of Banking and Financial Services (ZIBFS) President Cephas Chabu says housing is a very important aspect of any national development.

Mr Chabu says if housing is not handled well, it impacts on many things among them health, the environment and also impacts on national development.

He states that it is therefore important for stakeholders to come together and come up with ideas that will help the country reduce the housing deficit.