MIXTA AFRICA SAYS FINANCING IS KEY TO EXPANDING HOMEOWNERSHIP

Mixta Africa has said access to affordable financing is critical to helping more Nigerians overcome barriers to homeownership.

The real estate developer made the statement while handing over keys to 27 new homeowners at its Ibudo Wura affordable housing estate along the Lekki-Epe Expressway in Lagos. The latest handover brings the number of completed homes across Phases One and Two of the estate to 192.

The company said the development demonstrates how suitable financing can make homeownership more accessible to prospective buyers.

According to Mixta Africa, some buyers were able to access financing with an equity contribution of as little as 10 per cent, payable over six months. The financing carries an interest rate of 9.75 per cent annually, with repayment periods ranging from five to 20 years.

The company said the financing is available through the Ministry of Finance Incorporated Real Estate Investment Fund.

Mixta Africa’s Group Chief Commercial Officer, Tola Akinsulire, said handing over the homes represented an important stage in the company’s relationship with customers, particularly because purchasing a home requires significant financial commitment.

The company said it has delivered more than 30,000 homes across Africa over its more than 20-year history.

The latest handover highlights the role of long-term and affordable housing finance in helping prospective homeowners move from purchasing property to taking possession of completed homes.