BIPC to secure $10m for agro commodities hub, mass housing

The Benue Investment and Property Company Limited (BIPC) has activated modalities to secure $10 million through Shelter Afrique to build 500 mass housing for low-income earners in Benue State.  The facility will also be used to construct an agro commodities hub, central logistics park and diaspora eco-city. The managing director of the BIPC, Dr Raymond […]

The Benue Investment and Property Company Limited (BIPC) has activated modalities to secure $10 million through Shelter Afrique to build 500 mass housing for low-income earners in Benue State. 

The facility will also be used to construct an agro commodities hub, central logistics park and diaspora eco-city.

The managing director of the BIPC, Dr Raymond Asemakaha, in a statement made available to journalists in Makurdi on Tuesday, noted that the initiative was in tandem with Governor Hyacinth Alia’s policy to deliver mass affordable housing, tap into the agricultural value chain and maximise benefits in the logistics space.  

Shelter Afrique (SAf), also known as the Company for Habitat and Housing in Africa, is a fund from the Africa Development Bank created to exclusively support the development of the African real estate and housing sector.

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Asemakaha stated that the hub would create direct wealth for more than one million traders in the agricultural value chain, while guaranteeing uninterrupted food supplies to more than five million Benue people for at least 120 days in a period of scarcity.

Asemakaha, while explaining the need for the organisation (Shelter Afrique) to extend its services to the state, also appealed for investment in the construction of agro commodity hub, central logistics park, electricity market and a Diaspora Eco City.

Responding separately, Usman Ibrahim, a credit risk analyst of Shelter Afrique, and Ikem Israel, investment officer, expressed willingness to partner with the company.

They outlined two models of partnership open to the company: a public-private partnership (PPP) and credit guarantee structures by Infracredit model, and requested the BIPC to come up with a proposal on the model it intends to adopt.