Zanzibar President, Dr Hussein Ali Mwinyi has reaffirmed his commitment to fostering sustainable housing sector with multi stakeholders in advancing a sustainable and affordable housing across the continent.

He gave the assurance in Zanzibar today October 16, 2024 during the 40th anniversary of the African Union for Housing Finance (AUHF) and International Secondary Mortgage Market Association (ISMMA) dubbed: ‘Building to Last: Realising a Sustainable and Affordable Housing Sector in Africa and Beyond’.

President Mwinyi praised the AUHF for four decades of significant contributions to housing finance in Africa, acknowledging the organization's impact in improving the lives of millions through innovative housing solutions and partnerships. 

 "As we commemorate this milestone, I wish to congratulate you on your achievements and reaffirm my deepest gratitude for your continued commitment to improving housing in Africa. Together, we will keep advancing the sector to ensure sustainable growth and better living conditions for all."he said. 

The president also expressed delight in welcoming ISMMA members to Zanzibar, emphasizing the association's vital role in enhancing global housing finance by providing secondary market liquidity that enables mortgage lenders to offer long-term, affordable financing options.

According to him, ISMMA participation in the conference, marked an important step in bridging the gap between Africa's unique housing needs and global housing finance best practices. 

Their involvement signals the increasing global recognition of Africa’s housing potential and underscores the importance of cross-border collaboration in building sustainable, resilient housing finance systems that support affordable housing efforts not just in Africa but around the world.

Reflecting on Zanzibar’s efforts, President Mwinyi highlighted the government's initiatives to meet the housing needs of its growing population through the Zanzibar Housing Corporation (ZHC). 

The government has implemented various large-scale housing projects to ensure affordability and sustainability, particularly for low- and middle-income families. These projects incorporate green building practices, essential services like water and electricity, and public-private partnerships to create well-planned, livable urban areas that contribute to long-term economic growth, he said.

He further discussed the critical role played by the Tanzania Mortgage Refinance Company (TMRC) in deepening the mortgage market noting that through the provision of long-term funds to financial institutions, TMRC has enabled more Tanzanians to access affordable mortgage products, thereby supporting the government’s goal of making homeownership more attainable.

He further pointed out that TMRC CEO, Oscar Mgaya, currently serves as the Chairman of ISMMA.

Dr Mwinyi, further noted that Tanzanian institutions like the Watumishi Housing Company (WHC) has played a pivotal role in addressing the housing needs of public servants and low- to middle-income earners, delivering thousands of housing units. 

President Mwinyi, also recognized CRDB Bank Plc for its leadership in mortgage financing and praised Bureau Veritas Tanzania Limited, Pilgram Group International, Pangani Group, Ubunifu Africa, First Housing Finance, AM Mega Housing Solution Ltd, and Wananchi Housing Company for their innovative contributions to the housing sector.

He also welcomed the participation of the Bank of Tanzania, underscoring the importance of financial frameworks in supporting housing sector growth. These organizations and financial institutions represent a powerful coalition driving the transformation of Tanzania's housing market through innovation and efforts to close the housing affordability gap.

Looking forward, President Mwinyi, emphasized the importance of collaboration across sectors and borders to address urbanization, climate change, and economic inequality. He reiterated Zanzibar’s commitment to partnerships with international organizations such as UN.

Habitat and highlighted the upcoming World Urban Forum as an opportunity to share Africa's innovative urban development strategies.

“Let us take this opportunity to reaffirm our commitment to working together,” President Mwinyi concluded. “By embracing sustainable practices, leveraging our resources, and fostering partnerships, we can realize the vision of a housing sector that truly is 'built to last.'’

Together, we will build homes, strengthen communities, and ensure that Africa’s cities are resilient, inclusive, and sustainable for generations to come.”