The Managing Director and CEO of the Nigeria Mortgage Refinance Company (NMRC) and Chairman of the African Union for Housing Finance (AUHF), Mr. Kehinde Ogundimu, has urged African governments and stakeholders to adopt innovative, blended financing models to bridge the continent’s deepening housing gap and expand mortgage access.
Speaking at the 41st Annual AUHF Conference & Annual General Meeting in Lagos, Ogundimu delivered opening remarks at the State and City Roundtable on Blended Finance for Affordable Housing, where he emphasized the need for transformative funding approaches amid surging urbanization trends.
With Africa’s urban population projected to triple by 2050, the demand for affordable housing continues to outpace supply, putting pressure on infrastructure, planning systems, and financial mechanisms. Ogundimu noted that the continent’s mortgage penetration remains alarmingly low—below 3%—and stressed that traditional models of financing are inadequate to meet the scale of the crisis.
“We must move beyond conventional thinking,” Ogundimu stated. “Blended finance the strategic integration of public, private, and philanthropic capital is not just an alternative; it is a necessity for unlocking large-scale investment in housing.”
He added that strong government leadership, supportive policy frameworks, and private sector collaboration are critical to creating viable and scalable housing finance ecosystems. The AUHF conference, which brings together policymakers, developers, financiers, and urban experts, continues to serve as a platform for catalyzing practical solutions to Africa’s housing challenge.
