Setting up a first-of-its-kind housing fund in Africa
Altair advised on the business planning of an innovative housing finance institution in Nigeria.
Family Homes Funds Ltd (FHFL) was set up in 2017 by the Nigerian Federal Government, with a mandate to tackle the country’s housing crisis. Uniquely, FHFL is designed to respond to housing pressures on both the supply side – by providing financing for housing development – and the demand side – by providing affordable loan products for aspiring homeowners on low or middle incomes.
Over the course of the FHFL’s first two years, Altair was appointed to advise on the following tasks:
Altair’s early support ensured that FHFL was built on strong foundations, and the organisation has gone on to achieve remarkable success. At the most recent AGM, in 2022, it was reported that:
Most importantly, FHFL has provided financing for 15,792 affordable homes to date.
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