{"id":2816,"date":"2022-09-15T09:14:04","date_gmt":"2022-09-15T09:14:04","guid":{"rendered":"https:\/\/www.content.shelterafrique.org\/en\/?p=2816"},"modified":"2022-09-15T09:39:21","modified_gmt":"2022-09-15T09:39:21","slug":"shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2","status":"publish","type":"post","link":"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2\/","title":{"rendered":"Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria"},"content":{"rendered":"<p><strong>Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria. <\/strong><\/p>\n<p>&#8211; The facility will also help Mixta Africa repay part of a short-term loan raised from the capital market.  <\/p>\n<p><strong>Nairobi: September 14, 2022 <\/strong><\/p>\n<p>Pan-African housing development financier Shelter Afrique has extended USD19.5 million (\u20a68 billion) line of credit to Lagos-based real estate firm, Mixta Real Estate PLC.<\/p>\n<p>The 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta\u2019s affordable residential projects investments and for debt refinancing.\n<\/p>\n<p>USD9.75 (\u20a64 billion) will be used to co &#8211; finance 1,171 affordable housing units comprising on-going Beechwood Park project (187 units) and New Marula projects (984 units). The other   USD9.75 (\u20a64 billion) will be used to repay part of Mixta\u2019s 7-months Commercial Papers raised from the capital market in a bid to reduce the aggregate Commercial Papers outstanding from \u20a6 17.9billion to \u20a613.9billion.<\/p>\n<p>\u201cThe deal with Mixta Real Estate PLC is appealing to us because in addition to addressing the development of affordable it also it stimulates rapid growth in housing provision, re-invigorates the development of the mortgage industry, as well as incorporating a sustainable development finance solution that makes the sector attractive to financiers,\u201d Shelter Afrique Ag. Managing Director Kingsley Muwowo said. <\/p>\n<p>Commenting on the deal, Mixta Africa, Executive Director and Chief Financial Officer, Mr Benson Ajayi said enabling access to housing and home ownership at affordable prices is the company\u2019s main priority. <\/p>\n<p>\u201cThe funding from Shelter Afrique is a validation of Mixta Africa\u2019s housing and infrastructure development credentials. We are pleased to receive this funding approval after a rigorous due diligence process. In addition to accelerating the delivery of sustainable and affordable housing, the transaction will also strengthen the company\u2019s funding status. The Company is delighted about the support of Shelter Afrique and looks forward to working with Shelter Afrique to deliver on its affordable housing mandate across Africa,\u201d Mr. Ajayi said. <\/p>\n<h4><span style=\"font-size: 13pt;\">Other projects<\/span><\/h4>\n<p>Shelter Afrique has had long term relationship with Mixta Africa dating back to the year 2014 when the Company extended USD 6 million to Mixta (formerly ARM Properties PLC) to co-finance the development of 13 blocks comprising 130 apartments and related infrastructures services for outright sale to the public. The project was successful completed and the loan full paid back.<\/p>\n<p>In March 2021, Shelter Afrique Board of Director approved a corporate loan in form of line of credit of USD 13 million in favor of Mixta. The 5- year facility was to be on-lent to Mixta\u2019s Real Estate Development affiliates to fund the Group\u2019s current real estate portfolio composed of three key housing developments programs of 889 low to middle housing units in Morocco (371 units), in Senegal (162 units) and in Ivory Coast (356 housing units).  <\/p>\n<p>\u201cWe are jointly reviewing a few terms and conditions of this facility at the moment and loan agreements between the two parties is expected will be signed soon,\u201d Mr. Muwowo said.<\/p>\n<p>\nThe facility is expected to directly impact more than 1,171 families and provide accommodation for more than 4,684 people (average size of households in Lagos is 3.8) and create at least 2,342 jobs.\n<\/p>\n<h4><span style=\"font-size: 13pt;\">Notes to Editor<\/span><\/h4>\n<p><strong>Shelter Afrique <\/strong><\/p>\n<p>\nShelter-Afrique is a pan African housing finance and development institution established by African governments to address the need for a sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, the African Re-Insurance Corporation, and Fonds de Solidarit\u00e9 Africain (FSA).<\/p>\n<p>The company\u2019s mandate is to provide financing through debt, quasi-equity, and equity to both public and private institutions for housing and urban infrastructure projects in its member countries. Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate. These include project finance, institutional lending, equity investments &#038; joint ventures, trade finance, and social housing.<\/p>\n<p>We also offer practical advice and technical assistance to a wide range of industry stakeholders<\/p>\n<p><strong>For more information, please visit  <a href=\"http:\/\/www.shelterafrique.org\/\">http:\/\/www.shelterafrique.org\/<\/a> <\/strong><\/p>\n<p>Follow Shelter Afrique on <a href=\"https:\/\/twitter.com\/ShelterAfrique\">Twitter<\/a>, <a href=\"https:\/\/www.linkedin.com\/company\/shelter-afrique\/\">LinkedIn<\/a> and <a href=\"https:\/\/www.facebook.com\/theshelterafrique\/\">Facebook<\/a> <\/p>\n<p><strong>Mixta Africa <\/strong><\/p>\n<p>\nMixta Real Estate Plc is a Pan-African real estate development company headquartered in Lagos, Nigeria. It was established in 2005 and since then, has successfully executed many impactful projects. The company is currently present in 8 countries across Africa with full operations in Nigeria, Senegal, C\u00f4te d\u2019Ivoire, Morocco, and Tunisia but with projects in Mauritania, Algeria and Egypt.<br \/>\n<a href=\"https:\/\/mixtafrica.com\">https:\/\/mixtafrica.com<\/a>\n<\/p>\n<p><strong>For further enquiries, please contact:<\/strong><\/p>\n<p>\nBabatunde Oyateru | Communications Manager | Shelter Afrique| Shelter Afrique Centre | Longonot Road \u2013 Upper Hill| Tel: +254 20 4978000 | Email: boyateru@shelterafrique.org|\n<\/p>\n<p> Or <\/p>\n<p>Mike Omuodo | Executive Director| Media Fast PR | Tel: +254 736 014 596| Email: mike.omuodo@mediafast.co.ke|<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria. &#8211; The facility will also help Mixta Africa repay part of a short-term loan raised from the capital market. Nairobi: September 14, 2022 Pan-African housing development financier Shelter Afrique has extended USD19.5 million (\u20a68 billion) line of credit to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":2822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4,321,1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria - ShafPress<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria - ShafPress\" \/>\n<meta property=\"og:description\" content=\"Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria. &#8211; The facility will also help Mixta Africa repay part of a short-term loan raised from the capital market. Nairobi: September 14, 2022 Pan-African housing development financier Shelter Afrique has extended USD19.5 million (\u20a68 billion) line of credit to &hellip; Continue reading &quot;Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2\/\" \/>\n<meta property=\"og:site_name\" content=\"ShafPress\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-15T09:14:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-15T09:39:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.content.shelterafrique.org\/en\/wp-content\/uploads\/2022\/09\/affordable-housing.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1366\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Brian Mwanji\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brian Mwanji\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2\/\",\"url\":\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd19-5-million-credit-line-to-mixta-afrique-for-affordable-housing-projects-in-nigeria-2\/\",\"name\":\"Shelter Afrique approves USD19.5 Million credit line to Mixta Afrique for affordable housing projects in Nigeria - 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