The Ministry of Urban and Rural Development says it will need N$6.5 billion by 2028 to meet the country’s growing housing demands.
According to the Director of Habitat and Housing Development at the Ministry of Urban and Rural Development, Big-Don Kondunda, the annual budget allocated to the Ministry’s housing programs is projected to surge eightfold by 2028, rising from N$750 million in 2023 to N$6.5 billion in 2028.
“The combined public investment in land servicing and housing must be increased in line with the policy. Annual government budget provision to rise from N$750 million (2023) to N$6.5 billion in 2028,” he said
This comes as the Ministry unveiled a revised National Housing Policy (NHP), which prioritises collaboration and affordability, to secure adequate housing for a substantial portion of the population.
The Minister of Urban and Rural Development, Erastus Uutoni, said preliminary estimates suggest a need for approximately 30,000 new housing units annually between 2023 and 2030 to replace existing and future informal settlements.
The Ministry unveiled its N$67 billion, 5-year implementation plan.
“The Housing Policy provides an overarching framework for integrated human settlement development in the country by recognising and emphasising the principles of inclusivity, partnerships and sustainability as critical requirements for achieving the ultimate Policy goal of broad-based access to housing opportunities and adequate housing to progressively improve living and socio-economic conditions for urban and rural residents,” he said.
Implementation of the National Housing Policy is projected to increase year-on-year, from N$3.2 billion in the first year to N$23 billion in fifth year.
Uutoni further said that the revised policy focuses on ensuring affordability for low- and ultra-low-income residents Priority Target Groups and a transparent Housing Subsidy Framework will be established, offering a mix of grants and loans to make housing more accessible.
“The fourth principle is a pro-poor orientation whereby a special focus is given to the poor and ultra-low income earners who, if left to the market forces, will not be in a position to help themselves and thus need more assistance in meeting their housing needs,” he said.
