Nigeria’s housing deficit accounts for about 39.3 per cent of Africa’s total, Shelter Afrique has said.
Shelter Afrique, a pan-African finance institution, said Nigeria had 22 million housing deficit out of the total 56 million on the continent.
The Chief Executive Officer, Shelter Afrique, Mr Andrew Chimphondah, who made this known during the signing of a memorandum of understanding with Family Homes Fund Limited, said Nigeria remained the firm’s biggest market and target for affordable housing.
He explained that one of the reasons for the MoU was to co-fund specific deals, share market knowledge and operate in line with best practices.
According to him, the core vision is to develop decent and affordable homes for all Nigerians and solve the affordability challenge in the demand and supply side.
Chimphondah said, “We are very grateful to get into a partnership with Family Homes Funds and we are delighted to sign the MoU. One of the things we realised when we re-strategised over the last few years is that beyond financing affordable housing, one of our strengths was leveraging our partnerships and networks.”
The signing of the MoU is expected to result in specific co-funded affordable housing projects which both organisations said had been identified as low-hanging fruit projects that would be affordable.
The Managing Director/Chief Executive Officer of Family Homes Funds, Mr Femi Adewole, said the MoU was a small but momentous occasion as Shelter Afrique had been a housing financing organisation for more than 35 years with significant experience across many countries.
“On the other hand, Family Homes Funds is barely a couple of years old. This partnership and relationship, birthed out of this MoU provides the beginning of what I hope and expect – and we will work assiduously for it to be a very successful relationship,” he said.
He added that both organisations would create houses for Nigerians who needed shelter the most.
Source: Punch Excluding Headline
