At AUHF Meeting, NMRC Seeks Stronger Govt Role in Blended Finance to Bridge Africa’s Housing Gap

Emmanuel Addeh in Abuja

To address Africa’s deepening housing deficit sustainably, the Managing Director and Chief Executive of the Nigeria Mortgage Refinance Company (NMRC), Mr. Kehinde Ogundimu, has called for stronger government leadership and innovative financing mechanisms, particularly through blended finance.

Ogundimu, who is also the Chairman of the African Union for Housing Finance (AUHF), noted that this will act as a catalyst for transformative, large-scale impact across the continent.

He stated this when he delivered his opening remarks at the ‘State and City Roundtable on Blended Finance for Affordable Housing’ which is currently ongoing in Nairobi, Kenya.

At the 41st annual AUHF Conference & Annual General Meeting (AGM), Ogundimu, who addressed a distinguished audience of policymakers, development partners, and housing finance institutions, underscored the urgency of coordinated action in response to Africa’s rapidly growing urban population, projected to triple by 2050.

He asked “This transformation presents a choice. Will our cities become engines of prosperity and human dignity, or sprawling informal settlements marked by lost opportunity and persistent inadequacy?”

Citing the continent’s low mortgage penetration, which remains below 3 per cent,  Ogundimu emphasised 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,” he added.

He stressed that governments must evolve from being sole providers to becoming market enablers, using public resources to unlock private capital.

 “When structured effectively, blended finance can reduce investment risk, extend loan tenors, lower interest rates to affordable levels, and multiply the impact of limited public funds,” he explained.

Ogundimu pointed to emerging models across Africa, such as guarantee schemes and employer-employee housing funds, as promising examples that must be scaled through collaboration and policy alignment.

 “Housing is not just a social good; it is a powerful economic catalyst. Each home built creates jobs, stimulates local industries, deepens financial markets, and builds wealth. Through advocacy, capacity-building, and cross-sector partnerships, AUHF is committed to championing this vision,” the NMRC chief emphasised.

Drawing from NMRC’s experience in Nigeria, he noted that while strategic housing finance interventions can reshape markets, lasting impact requires an ecosystem-wide approach. “No single institution, and no single country, can achieve this alone,” he pointed out.

The roundtable, hosted in Kenya with support from UN-Habitat and the African Development Bank, brought together delegates from across the continent -including Nigeria, Kenya, Rwanda, South Africa, Botswana, and Zimbabwe – to share practical solutions in housing finance, urban policy, and capital mobilisation.

Ogundimu reaffirmed AUHF’s commitment to documenting successful models and promoting continental knowledge exchange. He urged African policymakers to act boldly, stressing the importance of long-term planning and decisive leadership by executing decisions made at forums like the AUHF Conference.

 “The families waiting for decent homes are counting on us. History will judge whether we rose to meet this defining challenge. I am confident that together, we will,” he stressed.