The construction of about 123 cities across the African is part of the plans between the African Union and a unit of Temasek Holdings Pte.
This scheme will cost about 150 billion dollars over the next twenty years as expected by the developer, Cape Town-based Africa123. Due to World Banks’ projection of about 216 million people within Sub-Saharan Africa living in shanks by 2063, the plan is to curb the housing shortage in Africa.
The style of the construction as revealed by Africa 123 integrates renewable energy and water deliveries, transport, education, and health frameworks and job possibilities. A test trial run of the project will also have the ability for mortgage facilities in the discussion phase between the African Union Development Agency and the company.
The scheme guides job possibilities, education, and health under one umbrella as stated by the head of industrialization at the AUDA, Mr. Kossi Toulassi.
The former colonial leaders established capital cities of many African nations for minor societies which are making current administrations grapple with regard to infrastructural development as these cities have been in slumps for tens of years due to the migration of people to metropolitan regions.
The chairwoman of Africa 123, Gita Goven quoted; “We expect that there are going to be 3 billion people in the continent by 2063 and 150 million families that will need housing, decent housing,”. “The ability to continue tacking onto those cities and trying to revive and extend the city has exhausted itself.”
This scheme is to commence in Ghana with three settlements in which the land for this has been acquired for building 800,000 homes for about 3 million people. This is in line with Africa123’s plans in establishing well-laid-out cities with necessary provisions.
John Anderson, the chief operating officer for the Africa division of SMEC Holdings Ltd said they are aiding applications financially for the scheme as they are backing the idea of smart cities and will look into more assistance in future schemes.
SMEC is a worldwide infrastructure consulting firm that’s owned by a unit of Singapore’s Temasek, which has a roughly $300 billion portfolio.