The Chairman of the African Union for Housing Finance (AUHF) and Managing Director of the Nigeria Mortgage Refinance Company (NMRC), Kehinde Ogundimu, has called for stronger government leadership and innovative financing strategies, especially blended finance to bridge Africa’s widening housing deficit.
Speaking at the State and City Roundtable on Blended Finance for Affordable Housing during the 41st AUHF Conference and AGM in Kenya, Ogundimu said Africa’s rapid urbanisation, with its population expected to triple by 2050, demands bold policy choices and coordinated action.
He warned that without strategic intervention, the continent’s cities risk becoming “sprawling informal settlements marked by lost opportunity and persistent inadequacy.”
Ogundimu highlighted Africa’s mortgage penetration rate, still below three per cent as evidence of the need for innovation, partnerships, and blended finance to drive reform. “Blended finance, the mix of public, private, and philanthropic capital is not merely an option; it is a necessity,” he said.
He added that governments must transition from being housing providers to market enablers, using public funds to attract private investment. “When structured effectively, blended finance can lower risks, extend loan tenors, reduce interest rates, and multiply public impact,” he noted.
Citing successful initiatives such as guarantee schemes and employer-employee housing funds, Ogundimu described housing as “a powerful economic catalyst” that creates jobs, supports industries, and drives financial inclusion.
Supported by UN-Habitat and the African Development Bank (AfDB), the roundtable brought together delegates from Nigeria, Kenya, Rwanda, South Africa, Botswana, and Zimbabwe to share insights on affordable housing finance and urban policy.
Ogundimu reaffirmed AUHF’s commitment to documenting and replicating successful housing models, urging African leaders to act decisively. “The families waiting for decent homes are counting on us,” he said. “History will judge whether we rose to meet this defining challenge.”
Source:Guardian
