Alitheia has received a major boost in its mission to close Africa’s gendered housing deficit, with the award of a feasibility study grant from Convergence Blended Finance.
The grant, awarded under the Gender-Responsive Climate Finance (GRCF) Window and funded by Global Affairs Canada, is set to support the design of the Eco Equity Investment Company (EEIC), a dual blended finance vehicle aimed at transforming Nigeria’s housing sector through gender-inclusive, sustainable development.
The EEIC will specifically target women-led or women-supportive enterprises across the green construction value chain, making access to affordable, eco-friendly housing a reality for thousands of women.
Alitheia’s plan includes training at least 300 women entrepreneurs in sustainable building practices, delivering approximately 2,000 passive homes to low-income communities, and ensuring long-term home ownership remains with women.
The vehicle also aims to cut greenhouse gas emissions by an estimated 500,000 metric tons of CO₂ equivalent over its lifecycle.
The initiative is part of Convergence’s final cohort under the GRCF Window, announced during a high-level event at the Embassy of Canada to the United States on the sidelines of DC Climate Week.
Alitheia’s inclusion highlights the rising global recognition of the urgent need for gender-equitable climate action, especially in emerging markets like Nigeria.
Beyond offering affordable housing, the initiative is expected to boost financial inclusion, empower women in the construction sector, and stimulate economic growth by creating an investable pipeline of sustainable businesses led or supported by women.
The feasibility study will cover key areas including finalizing vehicle structuring, financial modelling, risk assessment, stakeholder engagement, market research, and the development of an incubator pipeline for fundable projects.
This bold step by Alitheia signals a new era where gender equity, climate resilience, and housing security intersect, delivering lasting social impact while unlocking commercial capital for sustainable growth across Africa.
The GRCF Window, since its inception, has supported 11 pioneering solutions with $2.9 million in capital and has catalyzed over $362 million in additional public and private investments.
The Coordinator of the Africa International Housing Show (AIHS), Festus Adebayo, has reacted to the development, describing it as a welcome milestone for women in the built environment industry.
He congratulated Alitheia on its achievement and noted that at the 19th edition of AIHS, scheduled to hold from July 27 to August 1, 2025, the Managing Director/Co-Founder of Alitheia, Mrs. Jumoke Akinwunmi, who also serves as a Board Member of the largest housing event in Africa, will lead the Women in Real Estate and Construction Day programme at the event.
Although this marks the final round of funding under the GRCF Window, Convergence will continue to provide hands-on support to help grantees, like Alitheia, bring their visionary concepts to life.
