Innovative financing critical in bridging housing deficit – Expert

To address Africa’s deepening housing deficit sustainably, an expert has called for innovative financing targeted at bridging housing deficit and mortgage penetration in Nigeria and the African continent. Mr. Kehinde Ogundimu, Managing Director and CEO of the Nigeria Mortgage Refinance Company (NMRC) and Chairman of the African Union for Housing Finance (AUHF), called for stronger […]

To address Africa’s deepening housing deficit sustainably, an expert has called for innovative financing targeted at bridging housing deficit and mortgage penetration in Nigeria and the African continent.

Mr. Kehinde Ogundimu, Managing Director and CEO of the Nigeria Mortgage Refinance Company (NMRC) and Chairman of the African Union for Housing Finance (AUHF), called for stronger government leadership and innovative financing mechanisms, who made the call noted that blended finance, could serve as a catalyst for transformative, large-scale impact across the continent.

Delivering the opening remarks at the State and City Roundtable on Blended Finance for Affordable Housing, held during the 41st Annual AUHF Conference & AGM, Ogundimu underscored the urgency of coordinated action in response to Africa’s rapidly growing urban population, projected to triple by 2050.

Citing the continent’s low mortgage penetration, which remains below 3%, Mr. Ogundimu emphasized that innovation, partnerships, and blended finance are essential. “We need blended finance: the strategic combination of public, philanthropic, and private capital to unlock investment at scale. It is not merely an option—it is a necessity.”