As reported by construction review, The Nigeria Mortgage Refinance Company PLC and the Centre for Affordable Housing Finance in Africa signed a Memorandum of Understanding (MoU) on future cooperation. Both organizations have committed themselves to work to alleviate Nigeria’s housing issue.
The cooperation involves applying their knowledge to advance public and private initiatives to increase access to housing finance. This is more so the case especially to the lower and middle income housing market. They are also looking to improve the functioning of the housing market in Nigeria.
The focus of this partnership is specifically on Nigeria. NMRC’s focus is limited to Nigeria and CAHF has identified Nigeria as a priority country in terms of its three-year strategy which extends to 2021. The partnership between NMRC and CAHF intends to support effective and data-driven policy in Nigeria’s housing market.
The Nigeria Mortgage Refinance Company (NMRC) is a private sector-driven mortgage refinancing company. The company’s purpose is promoting home ownership for Nigerians while deepening the primary and secondary mortgage markets. Its vision is to be the dominant housing partner in Nigeria.
NMRC sets out to break down barriers to home ownership by providing liquidity, affordability, accessibility and stability to the housing market in Nigeria.
The Centre for Affordable Housing Finance in Africa (CAHF) is a non-profit organization. The company’s main aim is to avail an affordable housing finance system across Africa. This in turn will have governments and businesses alike work together to provide a wide range of housing options for all.
CAHF’s mission is to make Africa’s housing finance markets work, especially access to housing finance for the poor. The overall goal of CAHF’s work is to see an increase of investment in affordable housing and housing finance throughout Africa.