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Mixta Africa Receives Additional $13m Loan from Shelter Afrique

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Mixta Africa

By Modupe Gbadeyanka

A Lagos-based real estate company, Mixta Africa Plc, has received a fresh $13 million line of credit from a pan-African housing development financier, Shelter Afrique.

The 5-year facility with a moratorium of 24 months has been structured to fund the group’s current real estate projects in Côte d’Ivoire, Senegal and Morocco.

According to a statement, the $13 million loan will co-finance the construction of 356 housing units in Côte d’Ivoire, 162 units in Senegal, and 371 units in Morocco, with selling prices varying from $26,000 in Morocco, $45,000 in Ivory Coast, and between $36,000 and $52,000 in Senegal.

The Executive Director and Chief Financial Officer of Mixta Africa, Mr Benson Ajayi, commended Shelter Afrique for expanding financing options for the real estate sector, adding the strategy deployed by Shelter Afrique to raise funds for housing projects from regional local currency bonds was laudable.

“We have been looking for such kind of strategy from DFI’s who purport to support us. That Shelter Afrique has been able to do this is really big for us and is what makes this transaction important and successful.

“If shelter Afrique came to us with a Dollar proposition, we would have said no, as our past Dollars transaction had its own share of forex challenges.

“We are, however, confident that the dollar-denominated facility being extended to us by shelter Afrique to finance projects in Morocco, Senegal, and Côte d’Ivoire will not suffer much forex shocks,” Mr Ajayi said.

On his part, the acting Managing Director of Shelter Afrique, Mr Kingsley Muwowo, lauded the strong and long-term relationship between the two institutions.

“In Mixta Africa, Shelter Afrique has a reliable partner that shares a common goal of developing affordable housing across Africa.

“We have therefore structured both the Naira and Dollar denominated credit facilities to support their real estate projects. The Naira loans, which are supported by the First series of the N500 billion bond, which raised N46 billion, will support Mixta Africa’s projects in Nigeria to guard against forex risks.

“The Dollar ticket, which is from our own capital resources, will support Mixta’s projects in Morocco, Senegal and Côte d’Ivoire,” Mr Muwowo said.

More than $50m disbursed

Mr Muwowo disclosed that out of the $110 million (N46 billion) realized from the Naira-denominated bond debut in April, more than $50 million had already been disbursed to finance projects in Nigeria.

“Two months ago, we approved a $19.5 million (N8 billion) loan to Mixta Africa to support its affordable housing projects in Nigeria.

“Last week, we also approved a $24.03 million (N10 billion) commercial loan to Landmark Africa to partly finance the construction of a mixed-use housing project, Landmark Waterview Apartments and also help the company refinance existing debt. We expect a healthy project pipeline in Nigeria as demand continues to grow,” Mr Muwowo said.

Mixta Africa is a Pan-African real estate development company headquartered in Lagos, Nigeria. It was established in 2005 and has successfully executed many impactful projects since then. The company is currently present in 8 countries across Africa, with full operations in Nigeria, Senegal, Côte d’Ivoire, Morocco, and Tunisia, but with projects in Algeria, Egypt, and Mauritania.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Stanbic IBTC Capital Celebrates Excellence in Real Estate

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Stanbic IBTC Capital

By Modupe Gbadeyanka

The 16th Honours Nite of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, received the full backing of Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings.

The company sponsored the event, which brought together industry leaders, corporate partners, and public sector decision-makers in the real estate sector.

It was an avenue to recognise and celebrate exceptional achievements in the real estate and development ecosystem.

The chairman of NIESV in Lagos, Mr Gbenga Ismail, while addressing guests at the programme themed Inspiring Excellence, Shaping the Future, said, “Honours Nite gives us the chance to highlight the excellence and integrity inherent in our profession. While we celebrate today’s achievers, we set a precedent for a future that embraces innovation.”

The chief executive of Stanbic IBTC Capital, Mr Oladele Sotubo, stated, “At Stanbic IBTC Capital, we believe that excellence in the real estate sector is necessary for sustainable growth and community development.

“By supporting events like the NIESV Honours Nite, we underscore our commitment to recognising and empowering the professionals who shape our built environment.

“Together, we can inspire innovation and uphold the highest standards, ensuring a future where quality housing and ethical practices thrive in Nigeria.”

Also, the Head of Real Estate Finance for West Africa at Stanbic IBTC Capital, Mr Tola Akinhanmi, expressed pride in supporting professionals and developers dedicated to providing high-quality housing solutions.

“These awards recognise projects that meet significant market demands and symbolise the progressive vision for the future of real estate in Nigeria,” he said.

At the ceremony, Stanbic IBTC Capital was announced as the winner of the Residential Development of the Period Award. This was for projects that demonstrated significant market influence and superior execution.

Biufort Homes Limited’s Greenwich Gardens (Ketu) won the Silver Award, while UPDC Plc’s The Hampshire earned the Gold Award for its outstanding design, execution, and strategic contribution to the premium residential landscape.

The collaboration between Stanbic IBTC Capital and the group highlights the importance of excellence in the real estate sector.

It sets a foundation for future innovations and advancements especially in underweight asset classes such as the residential sector which will help to catalyse developments and further bridge the housing supply gap in Nigeria.

This further underpins Stanbic IBTC’s value proposition and support to stimulate home ownership and acquisition via our end-to-end product offering including construction/development finance, insurance and various home loan packages which creates effective demand.

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Anzisha Shines Spotlight on 30 Young African Entrepreneurs

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Anzisha YouTube Series

By Modupe Gbadeyanka

The third season of the YouTube series of Anzisha, The Journey, will focus on 30 very young entrepreneurs across Africa.

The documentary series will provide an uncensored glimpse into the grit of the small business owners, letting the viewers know the hurdles, strategic pivots, and moments of leadership that define their journeys.

With over 1.13 million YouTube views last season, The Journey S3 promises to be even more impactful.

This season culminates in a high-stakes pitch competition where four prizes totalling $40,000 will be awarded to the most promising entrepreneurs.

This intense pitch week in Johannesburg, South Africa, is where young founders refine their ideas, validate the work they’ve done over the last two years, and battle for prizes that can transform their ventures.

Viewers will see entrepreneurs navigate uncertainty when faced with unpredictability. These young leaders, aged 15 to 22, come from across Africa, including Zimbabwe, Nigeria, Madagascar, Benin, Uganda, Zambia, Ghana, Egypt, DR Congo, and Senegal.

Their ventures span across numerous sectors, from agriculture and food processing to technology, logistics, and personal care, clearly reflecting innovation across the continent.

The series showcases them building sustainable ecosystems that extend beyond financial returns and redefining leadership through inclusive and purpose-driven businesses.

The Managing Director of Anzisha, Didi Onwu, said, “The Journey season 3 is more than just a series; it’s a window into the future of African enterprise.

“It showcases the dedication, innovation, and resilience of young entrepreneurs who are not just building businesses but transforming their communities.”

The Journey’s season 3 offers a rich tapestry of experiences from a broad group of young African entrepreneurs.

Viewers will see the reality of their experiences, the balance of vision and execution, innovation and sustainability, and personal ambition driven by a desire to address gaps within their communities.

This season deepens understanding of the African entrepreneurial ecosystem by providing an honest look at the complexity of developing businesses in emerging markets.

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FG Seeks Brazil’s Support for Green Methanol Industrial Complex

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methanol production

By Adedapo Adesanya

The federal government is already developing a robust Green Methanol Industrial Complex, the highest in Africa and is seeking Brazilian partnership in design, certification and feedstock optimisation for socio-economic development of the country.

The Minister of Innovation, Science and Technology, Mr Uche Nnaji, during a visit of the Ambassador of Brazil to Nigeria, Mr Carlos Gracete, to his office in Abuja, said under President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Ministry was driving reforms that will place innovation at the center of job creation, industrial growth and national competitiveness for economic development.

He emphasised that the efforts are being made to mechanize agro-processing and unlock the full potential of cassava, sugarcane and soybean value chain for the betterment of the citizens, reaffirming that the country is ready to work closely with Brazil to co-create inclusive, sustainable and high impact innovation projects.

On his part, the Director-General of the National Space Development Research Agency, NASRDA, Mr Matthew Adepoju while speaking, said that the agency is expanding Nigeria’s satellite capabilities and therefore seeks collaboration with Brazil’s national Institutes for Space Agencies on areas of Remote Sensing, Climate Monitoring, Land Use Analytics, Border Security and Disaster Response.

Also, the envoy said the purpose of the visit was to deepen bilateral cooperation between Nigeria and Brazil in key areas through technology, innovation driven development and trade relationships.

Methanol fuel is an alternative biofuel for internal combustion and other engines. It has chemical and physical fuel properties similar to ethanol and current research now focuses on the use as a sustainable marine fuel that will contribute to economic diversification of the country.

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