This is the document, of Centre for Affordable Housing Finance in Africa (CAHF), The growing population, and growing middle class in particular, together with rapid urbanization in Africa, has created immense demand for affordable housing across African cities. According to the International Finance Corporation (IFC), African cities become the new home to over 40,000 people every day, which in turn puts significant pressure on existing urban accommodation. This increasing demand for affordable housing across the African continent has been met with scant supply, which in turn has given rise to a considerably increasing housing backlog. 2 This is because the formal channels through which quality housing is produced and financed in Africa face major constraints.  According to the International Finance Corporation (IFC), African cities become the new home to over 40,000 people every day, which in turn puts significant pressure on existing urban accommodation. The introduction of Real Estate Investment Trusts (REITs) is one innovative approach that policy makers, property developers and real estate investors in certain African countries are promoting in an attempt to address finance constraints in real estate markets. A REIT is a tax-efficient investment vehicle designed to aggregate diverse sources of funding (from international and institutional investors through to households), and target them into a real estate portfolio that extends beyond the limitations of individual projects. While the REIT structure is found in the context of real estate markets more broadly, it is its potential application in the affordable residential property market which is the focus of this study.