R-L Samuel Akinin CEO, FundRoof Namibia , Kehinde Ogundimu CEO NMRC & Chairman AUHF board, Kingsley Chukwuma Executive Director Business Development & Portfolio Management FMBN and Kanayo Mba CFO NMRC at the AUHF conference & AGM.
Managing Director and Chief Executive Officer of the Nigeria Mortgage Refinance Company (NMRC) who also serves as Board Chairman of the African Union of Housing Finance (AUHF), Mr Kehinde Ogundimu, has called for improved innovation and collaboration in efforts to deliver affordable housing across Africa. Mr. Ogundimu made the call when he gave the opening remark at the 2023 AUHF Conference and Annual General Meeting (AGM) which kicked off Tuesday, 31st October 2023 in Windhoek, Namibia.
The AUHF Board Chairman stated that the conference offers an opportunity for exchange of ideas, linkages, and information sharing among its members to tackle the continent’s common challenge of affordable housing. “In Africa, the affordable housing sector faces too many obstacles that stop it from functioning effectively: often, the developer cannot actually afford to deliver it, the lender cannot afford to finance it, the municipality cannot afford to govern it, and the household cannot afford to buy it”, he said.
The 39th edition of the conference, which is scheduled to run from 31st October to 2nd November 2023, provides a platform for government functionaries and stakeholders from the housing sector – policymakers and financiers to deliberate on the challenges confronting affordable housing delivery and proffer solutions to the myriad of problems faced by players in the sector.
“With unmanaged risk in the system, and lack of information to help the players navigate their engagement, the components of the affordable housing sector don’t seem to fit together. Yet, we must make it work, with ingenuity and perseverance. This week we are eager to share and explore cases from across the continent, which demonstrate innovation on the front line. In each session, industry leaders will present cases from their own experience, sharing insights into the opportunities they are chasing, the challenges they’re overcoming and the potential for replicability. Innovation comes in all forms – from new ways of collecting data, to experimental financing approaches, to creative partnerships. In some situations, just getting the job done requires innovation,” he said.
The AUHF represents the continent’s only established event designed to connect African, regional, and international stakeholders to Africa’s fast-evolving affordable housing sector, bringing together leaders from the housing, finance, and development world to share experiences from their different jurisdictions, highlighting the lessons learnt, discuss strategies that work, as well as find avenues for replicating such solutions in other jurisdictions across the continent.
According to the Board Chairman, leaders charged with the delivery of affordable housing in Africa need to be more innovative in their approach to affordable housing solutions, while leveraging data and market information. He added that stakeholders must be willing to share ideas and collaborate more effectively for Africa to achieve its common goal. “The AUHF convenes this conference as a platform to share new ideas and learnings, and stimulate debate towards a broad consensus on how we will address our common challenges and realise our common goal for affordable housing across Africa,” he added.
The event has in attendance the Deputy Ministers in charge of housing for Namibia, South Africa, Zimbabwe, Zambia, and Tanzania, as well as industry delegates, developmental agencies, and stakeholders from across Africa and beyond. The keynote address delivered by Evelyn Nawases-Taeyele, Namibia’s Deputy Minister of Urban and Rural Development, showcased innovation in Namibia with public, private and civil society stakeholders and also shared learnings and experiences geared towards improved affordability through co-production.
Other activities lined up for the three-day gathering include case studies from investors across the continent, sessions featuring financiers sharing details of their experimentation with new products, sessions on innovation in construction, as well as masterclasses and exhibitions.
Mr Kehinde Ogundimu
M.D CEO, NMRC
