{"id":472008,"date":"2021-06-11T12:46:18","date_gmt":"2021-06-11T12:46:18","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472008"},"modified":"2021-06-11T12:46:18","modified_gmt":"2021-06-11T12:46:18","slug":"nigeria-agreement-between-shelter-afrique-and-wema-bank-to-support-housing-stakeholders","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/06\/11\/nigeria-agreement-between-shelter-afrique-and-wema-bank-to-support-housing-stakeholders\/","title":{"rendered":"Nigeria: agreement between Shelter-Afrique and Wema Bank to support housing stakeholders"},"content":{"rendered":"
<\/div>

Wema Bank Plc wants to help thousands of Nigerian households as well as real estate players access housing. With this in mind, the Shelter-Afrique Board of Directors approved on Friday, June 11, a line of credit worth USD 9 million for a home loan to the Lagos-based bank.<\/p>\n

This credit facility (7-year maturity) will be used for subsequent loans to developers and home buyers who wish to purchase individual units on the basis of an owner-occupant and mortgage program assisted by employees.<\/p>\n

It will also be used to create mortgage loans for the purchase of affordable housing valued between 16 million Naira (US $ 40,000) and 32 million Naira (US $ 80,000), for completion, the improvement or extension of housing.<\/p>\n

“Sealing the deal was a positive step in addressing Nigeria’s housing shortage,” Shelter-Afrique Group Managing Director Andrew Chimphondah said. The official added that: \u201cNigeria faces a housing shortage estimated at over 20 million units and Shelter-Afrique is working closely with the relevant authorities to help resolve this shortage through government initiatives and from the private sector. The extension of the US $ 9 million facility to Wema Bank reaffirms our commitment to providing affordable housing solutions to the citizens of Nigeria. ”<\/p>\n

For his part, the Managing Director of Wema Bank Plc, Ademola Adebise, declared that this line of credit would consolidate the long partnership between the two institutions.<\/p>\n

\u201cWema Bank has enjoyed an excellent working relationship with Shelter-Afrique since 2014, when the Bank signed the first line of credit worth US $ 10 million. We are happy to partner again with Shelter Afrique and look forward to a longer term relationship, \u201dhe added.<\/p>\n

Founded in 1945, Wema Bank is the pioneer of Africa\u2019s first fully digital bank, ALAT, and one of Nigeria\u2019s most resilient banks.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Wema Bank Plc wants to help thousands of Nigerian households as well as real estate players access housing. With this in mind, the Shelter-Afrique Board of Directors approved on Friday, June 11, a line of credit worth USD 9 million for a home loan to the Lagos-based bank. This credit facility (7-year maturity) will be<\/p>\n","protected":false},"author":536282,"featured_media":472010,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16158,12000,11996,12040,12046],"tags":[13136,18852,38,1914,18851],"class_list":{"0":"post-472008","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-bank","8":"category-banks-insurance","9":"category-finance-en","10":"category-international-institutions","11":"category-leaders-en","12":"tag-agreement","13":"tag-housing-stakeholders","14":"tag-nigeria","15":"tag-shelter-afrique","16":"tag-wema-bank","17":"post_format-post-format-aside","18":"pmpro-has-access"},"yoast_head":"\nNigeria: agreement between Shelter-Afrique and Wema Bank to support housing stakeholders - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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