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Green Bonds Can Bridge Affordable Housing Gap- Shelter Afrique

•Kenya’s capital market has the capacity to support green bonds issues, not only for the country but also for the greater East African region

•The affordable housing pillar is expected to deliver one million housing units in less than five years to bridge the housing gap estimated at 1.8 million units

Kenya should leverage on green financing to fund its affordable housing pillar under the Big Four agenda.

According to pan African housing development financier Shelter Afrique Kenya has been named among African countries ripe for green financing to develop cheap homes“There is a market for green financing in Kenya, South Africa, and Nigeria since these countries have well-established capital markets,” Shelter Afrique chief executive Andrew Chimphondah said.

He added that Kenya’s capital market has the capacity to support green bonds issues, not only for the country but also for the greater East African region.

“However, most capital markets across Africa need to be strengthened,” he said.

Under President Uhuru Kenyatta’s Big Four Agenda, the affordable housing pillar is expected to deliver one million housing units in less than five years to bridge the housing gap estimated at 1.8 million units.

With the government having pledged to offer Sh40 billion worth of monetary and legislative incentives to the private sector to attract partnerships to drive the agenda, more needs to be done in terms of financing to meet the overall cost of the project estimated at Sh2.2 trillion.

A total of 800,000 cheap homes are expected to be built under the public private partnership model and 200,000 will be put up under a social scheme.

In August the Capital Markets Authority (CMA) approved Kenya’s first green bond to raise Sh5 billion to put up students’ hostels.

The green bond issued by Nairobi-based property developer Acorn Holdings for the construction of environmentally friendly student accommodation managed to raise Sh4.3 billion shillings (86 per cent) of the initial offer.

With the Africa’s housing industry requiring at least Sh250 billion ($2.5 billion) in new investment annually for a meaningful impact, Shelter Afrique has decided to add green bonds to its funding mix.

“We will engage with some of our partners to access this funding for affordable housing in Africa in the coming year,” Shimphondah said.

A 2018 report by the International Finance Corporation dubbed ‘Climate Investment Opportunities in Cities’ estimates a cumulative climate investment opportunity of $29.4 trillion across six key sectors in emerging market cities between now and 2030.

The largest share of the opportunity is in green buildings $24.7 trillion, covering new constructions and retrofits, as cities race to accommodate their growing populations

Research from Shelter Afrique Centre of Excellence (CoE) also indicates that the continent requires more than $1.4 trillion in funding to be able to effectively address the growing housing crisis where innovative funding options like green bonds come in handy.

Source: the-star.

Surveyor Calls for Conscious Social Housing

A Quantity Surveyor and former president of the Nigerian Institute of Quantity Surveyors (NIQS), Femi Onashile, has called on the Federal Government to deliver social housing for the majority of the people through revenue from taxes.

He said the only time government provided social housing was in the administration of Alhaji Lateef Jakande when he  engaged  in massive housing development, delivering  mass housing that enabled low to middle income earners own houses. He charged the Federal Government to explore avenues to encourage the private sector to provide infrastructure through tax rebate.

Onashile also took on the banking sector insisting that the way they operate is discouraging the construction sector with the high interest rate they charge not minding that construction projects have long gestation period.

Stressing the neglect of local skills in the sector, he recalled how the Minister of Works & Housing, Babatunde Fashola, encouraged them to meet global standards by involving them in projects.

Calling for reforms in contract document, he lamented that Nigeria is still using contract forms of 1963, noting that the old contract form is only about arbitration and litigation which is fast disappearing in contract disputes. He attributed the recent PID case  where Nigeria was fined $9billion in PID case because those who were involved in the contract used the archaic system  which is apparently not used elsewhere.

He said: “The PID company and their Nigeria collaborators used the archaic system in contracting and project execution. They know in their country those things have changed to adjudication and mediation.There must a strong will for us as a country to overcome this PID case and let the world know that we know what we are doing here as a country’’.

Source: thenationonlineng

AHCN Seeks Ways to Transform Housing Agencies

The Association of Housing Corporations of Nigeria (AHCN) will be training its agencies on how to achieve productivity and profitability in Uyo.

A statement by the Executive Secretary Toye Eniola explained that the objective of the training is to stimulate members to speedily embrace global business changes and equip them with strategies of adopting, adapting and developing positive corporate attitudes to enhance corporate effectiveness and profitability in an emerging economy.

AHCN is an umbrella organization for all federal and state housing agencies, housing research institutes, mortgage establishments, and private property developers. The AHCN was inaugurated in Enugu on May 1964 by the defunct four regional housing corporations and the Lagos Executive Development Board, (LEDB)(now LSDPC).

Today, membership of the Association has swelled to 50 member organizations including the Federal Mortgage Bank of Nigeria (FMBN), Federal Housing Authority (FHA) and Nigerian Building & Road Research Institute (NBRRI)

The events would also feature the 45th AGM/100th Council Meeting of the Association. The AGM shall feature a change of guard in the leadership of the association as the election will be held to elect new officers that will steer the affairs of the Association as the incumbent President, Mohammed Baba Adamu will be passing the baton to a new President that will emerge from the election.

The event which will be attended by the Managing Director of the Family Homes Funds Limited, Mr. Femi Adewole who will be presenting a paper on the Rental Housing Concept as Catalyst for Sustainability of Housing Agencies is designed to train and equip leaders of member organizations with strategic development of winning attitude and leadership skills.

The training was also designed to reposition housing corporations and agencies to its old trade of providing mass housing for the people especially the low income group.

The Association, which was established in 1964 was in the fore front of mass housing in Nigeria with the development of various housing estates in major state capitals across the federation until recently when most housing corporations saddled with various constraints that rendered them inactive.

The objective of the founders of the Association was to solve the then growing housing problems, especially in the urban centres by advising governments of the federation on their housing policies, projects, and programmes.

With its new focus of rekindling the old trade of mass housing through an initiative geared towards eradicating homelessness with the proposed development of 1000 housing units annually in each state of the federation, the Association hopes to chart a new way forward with the new executives that will emerge from its election.

Source: guardianng

Communities Seek Dialogue With El-Rufai as Kaduna Govt Marks 300 Houses for Demolition

Residents of Karji, Ungwan Waziri, Baban Saura, Ungwan Maijero, old Kamazou and Janruwa communities in Chikun local government of Kaduna state have sought for a meeting with Governor Nasir el-Rufai over the planned demolition of 300 houses in their .

Bulldozers and pay loaders reportedly romped into their communities on Friday, pulling down fences and parts of buildings allegedly built on supposed government land meant for housing estate, on the orders of el-Rufai.
The dmolition, they alleged, followed a week ultimatum handed to owners of containerised shops to move them away.
Addressing the media on Sunday, one of the representatives of the residents and a senior pastor with Evangelical Church Winning All (ECWA) Goodnews Karji, Reverend Musa Istifanus, said they were appealing for dialogue with the state government to know who made mistake, what the mistake was and how to resolve the issue because government has not spoken with them directly or through any emissary.

“We were taken aback by what happened late Thursday night to early Friday morning when the demolition started. We wondered who ordered the demolition asked questions but there was no answer. But from the look of things, all fingers point to government.
“We are making appeal that government should give us audience so that we can sit down and talk over this issue because government exists for the people. We have for long acquired land, registered with necessary authorities that enabled us build our houses. We want government to tell us what we did wrong so that we can make amends.

“Government is all about people. We don’t want to create right, we are appealing so that we can be given the chance to make right what we did wrong and if it is government that is wrong we can say it. This government is our government, we don’t want to confront government and we don’t want government to confront us.”
Also speaking, another resident, Alhaji Mustapha Mohammed, called for dialogue with government to know what they did wrong and find a lasting solution that would satisfy all parties.

Source: blueprintng

2019 Conference On Land Policy in Africa – Why It Matters for the Continent, By Cosmas Milton Ochieng

Cosmas Milton Ochieng, an expert in natural resource governance and economic development in Africa, is the Director of the African Natural Resource Centre at the African Development Bank.

In collaboration with the African Union Commission and the United Nations Economic Commission for Africa, the African Development Bank will host the 3rd Edition of the Conference on Land Policy in Africa in Abidjan from 25 to 29 November 2019.

In this interview, Ochieng shares key insights into why the conference matters for Africa.

Why does the 2019 Conference on Land Policy in Africa matter?

This conference matters for Africa because land is central to social, economic and political development in Africa. Land in Africa is not simply an economic or an environmental asset. It is also a social and cultural resource. It was at the heart of many anti-colonial movements on the continent. It remains an important factor in the construction of social identity and the organization of the religious, cultural and economic lives of many African communities.

Africa is home to 60 percent of the world’s unutilized but potentially available cropland. In 30 years, about half the world’s agricultural land will come from Africa. How Africa manages its land is therefore critical to its future social, economic and environmental well-being.

This conference explores the ways in which Africa can harness its land resources for its accelerated sustainable development.

What is the role of the African Development Bank and how can it help enhance transparency and accountability in land governance?

The African Development Bank is a co-founding anchor of the African Land Policy Centre (ALPC). The ALPC is a joint initiative of the African Development Bank, the African Union Commission (AUC) and the UN Economic Commission for Africa (ECA). The ALPC facilitates and coordinates the implementation of policy goals outlined in the AU Agenda on Land. The biennial land conference is one of the flagship activities of the ALPC.

In addition to its technical support to the ALPC, the African Development Bank supports the implementation of the African Union Agenda on sound land administration, management and governance, including transparency and accountability through the work of its various departments.

The African Development Bank, through its Ten-year Strategy (2013-2022) and its High 5 priorities, invests in its regional member countries to help maximize development outcomes derived from land.

The Bank also provides independent advice and technical assistance to countries to ensure sustainable development and management of land.

For instance, the African Natural Resources Centre at the Bank generates knowledge and provides institutional capacity building and strategic guidance on land administration and governance, investment and planning. Over the last five years, the African Natural Resources Centre has worked very closely with the government of Liberia to help the build capacity of the Liberia Land Commission, and to help review the National Land Rights Policy and the Alternate Dispute Resolution Mechanism. In Togo, the African Natural Resources Centre worked with the government to help facilitate a national dialogue on the country’s draft land policy and codes.

In Botswana, Rwanda, Malawi, Burundi, Tanzania, Kenya, Cameroon, Nigeria, Côte d’Ivoire and Senegal, the African Natural Resources Centre has conducted studies aimed at informing the review of land tenure systems. In the Democratic Republic of Congo, the African Natural Resources Centre has just initiated a pilot project on Farmer Registration and Land Digitalization (FRLD). The Farmer Registration and Land Digitalization Model was developed by the Bank’s own Statistics Department and seeks to enhance land registration, transparency and accountability.

How does the theme of the conference align with the African Union Declaration of 2018 as Africa’s Anti-Corruption Year?

The theme of this year’s Conference on Land Policy in Africa is “Winning the fight against corruption in the land sector in Africa”. This theme supports the AU designation of 2018 as the year of anti-corruption.

This theme also highlights the Bank’s commitment to sound governance, transparency and accountability in African natural resource governance and is consistent with the Bank’s governance policy and work on combating corruption and illicit trade in the African natural resource sector.

What are the expectations for this year’s conference?

This year’s conference seeks to enhance commitment to capacity strengthening for land policy development and administration in Africa through improved access to knowledge on combatting corruption in the land sector. The conference also seeks to enhance partnerships and networks and to mobilize resources for promoting good governance in the African land sector.

Source: AllAfrica

Zulum Inaugurates Committee to Deliver Affordable Houses

Borno State Governor Babagana Zulum yesterday inaugurated a committee saddled with the responsibility of building a new estate of 500 houses in Maiduguri. The governor also approved the sale of 2,787 houses in five government estates, to persons who were allocated the houses by successive administrations.

Speaking during the committee’s inauguration at the Government House in Maiduguri, Zulum said the 500 houses are to be completed next year.

The committee, chaired by the state’s Deputy Governor, Umar Usman Kadafur, has members that include professional engineers. The governor announced that he had approved the recommendation of a different committee to begin the sale of 2,787 houses made up of the 1,000 and 777 housing estates, the 505, 303 and 202 estates on owner-occupier basis, meaning that those living in the houses will be made pay a sum after which they fully own the houses

. Under existing condition, the houses belong to the state government while those allocated the houses pay annual rents to government. Zulum recalled that his administration has entered an agreement with Family Family Homes funds ,the federal government intervention funds in housing, for the construction of 1,700 urban housing and 3,200 rural housing in the state. This, he explains would be executed through a public-private partnership.

The Governor, at the occasion, paid tribute to his predecessor, Senator Kashim Shettima, ‘‘for the laudable efforts in increasing access to affordable houses across rural and urban areas of the state’’. “My predecessor has amply demonstrated commitment towards the provision of affordable housing targeted at low/middle level income households in urban/rural centres and the reconstruction of ravaged communities’’ Zulum said.

Source: dailytrustNG

Nigeria: Insights Into The Nigerian National Housing Fund. How Do I Utilize My Contributions?

What is National Housing Fund? The National Housing Fund (“NHF” or the “Fund”), which was established by the NHF Act of 1992 (the “Act”), is a scheme created by the Federal Government to cater for the housing needs of the Nigerian citizenry.

What does the Act say about NHF and who is required to contribute? The Act provides that all Nigerian employees, whether self-employed or in paid employment are required to contribute 2.5% of their monthly basic salary to the Fund through the Federal Mortgage Bank of Nigeria (“FMBN”).

What is the purpose of NHF contribution? The Scheme provides housing loans at an affordable interest rate of 6% per annum.

What is the penalty for not contributing NHF? Section 20 of the Act stipulates the following:

  1. An employer who—
    1. fails to make deductions from the basic salaries of his employees as required by this Act; or
    2. deducts any sum of money from the basic salaries of his employees for the purpose of the Fund and fails to remit the money so deducted to the bank, is guilty of an offence under this Act.
  2. A person guilty of an offence under subsection (1) of this section is liable on conviction, in the case of—
    1. a corporate body, to a fine of N50,000; and
    2. an individual who is a staff in the employment of an employer and who is authorised to make the deduction or payment to the bank, to a fine of N20,000 or imprisonment for a term of five years or to both such fine and imprisonment.
  3. A self-employed person who fails to make deductions or deducts and fails to remit to the bank any money due to the Fund is guilty of an offence under this Act and liable on conviction to a fine of N5,000 or to imprisonment for a term of one year or to both fine and imprisonment.
  4. A person who prevents or obstructs the deduction or remittance of the contribution due to the bank under this Act is guilty of an offence and liable on conviction to a fine of N5,000 or to imprisonment for a term of one year or to both such fine and imprisonment.
  5. The institution of proceedings or imposition of a penalty under this section shall not relieve any employer or self-employed person from liability to pay to the bank the money deducted by him for the purpose of the Fund.

What else do I benefit from the NHF Scheme asides affordable housing loans? Avoiding penalties should not be the only reason or incentive to make contributions to the Scheme as there are other benefits to be enjoyed by merely making contributions which includes:

  • reduction in tax liability as any contribution made to the Fund is tax-deductible;
  • easy access to housing loans;
  • enjoying lower rate of interest for housing loans; and
  • affordable and convenient mode of repayment.

How does a contributor obtain NHF loan? A contributor interested in obtaining NHF loan must have contributed to the Fund for a period of at least six (6) months. Such contributor is required to apply through any registered and duly accredited primary mortgage bank (PMB), who will forward the application to the Federal Mortgage Bank of Nigeria (FMBN). Necessary documents required for this purpose include:

  • Completed application forms: An application form for NHF loans must be downloaded from the FMBN official website and duly filled by the applicant.
  • Photocopy of title documents: These title documents include: Certificate of Occupancy, registered deed of assignment, deed of conveyance etc. It should be noted that NHF loans are not granted for refinancing of loans.
  • Current valuation report on the proposed house to buy or bills of quantities (BOQ) for the house to build;
  • Three (3) years tax clearance certificate;
  • Evidence of NHF participation: This evidence refers to official NHF receipts for at least six (6) months, which are given by the FMBN upon payment of NHF monthly contributions.
  • Copy of payslips for the previous three months: The three months’ payslips is a prerequisite to be eligible for acquiring the loan to determine a candidate’s ability to pay back. It should be noted that a repayment formula is used by the primary mortgage bank to determine the amount to be paid per month.

How much loan can I get from a primary mortgage bank? A maximum loan of N15 million can be given as an NHF loan. This includes an equity contribution or personal stake of 30%, 20% or 10% depending on the loan amount applied for.

How can I be compliant with NHF contributions? The Chartered Institute of Taxation of Nigeria currently has in excess of 1,000 chartered or licensed tax practitioners who are able to assist with NHF compliance requirements. Taxaide®’s professional personnel are among such licensed tax practitioners. Taxaide®’s technology practice, Taxtech® has a revolutionary product, TaxiTPayroll® (www.taxitpayroll.com.ng), which automates the entire payroll process including computations of NHF.


How Low Income Earners Can Benefit from Family Homes Funds’ ‘Help to Own’ – Adewole

The Managing Director of Family Homes Funds, Femi Adewole has said that a home ownership scheme developed by the Funds called Help to Own is a great opportunity for many Nigerians, especially those in the low income bracket to own their homes at very affordable rate.

While speaking to Africa Housing News on Thursday in Abuja, Adewole said the objective of Help to Own is basically to contribute to improving the availability of home financing for people on low income.

‘’Help to own scheme of the family homes funds is what we call our fund two. Currently one of the challenges for affordable housing in Nigeria is the fact that the long term financing that is needed for home financing is very few and far between.

‘’The objective of the Help to Own scheme is to provide for people on low income and we define that in our own terms as Nigerians earning less than N100, 000 per month. The fund provides them with a concessionary loan for up to 40% of the cost of the house and on that 40% financial assistance, they have a moratorium for 5 years on interest and principal. That is to say they don’t pay anything on that loan for the first 5 years.

‘’That makes the very early stages of home ownership a lot easier for them. It means that technically the only have to raise financing for 50% of the homes. We think that it will bring a huge number of people into home ownership market, but it is at its early stages and we will keep improving this product. We think that it has significant potential for ensuring that many more Nigerians can afford to live in their own homes,’’ he said.

The Family Homes Funds is a federal government social housing scheme mandated to provide up to 500,000 affordable homes for Nigerians by 2023.

Clarion Becomes First UK Housing Association to Secure Sustainable Housing Label

Clarion has become the first housing association in the UK to be approved for a newly created sustainable housing label, which aims to help affordable housing providers attract capital from impact investors.

Developed by German consultancy Ritterwald, the ‘Certified Sustainable Housing Label’ was created as a tool to measure the sustainability of housing providers based on 30 social and green indicators.

To be awarded the label housing associations must prove they meet these indicators, which include tenant involvement, the installation of renewable energy sources and an emphasis on energy efficiency for new builds.

The indicators for the label mirror the United Nations’ goals for sustainable development, which have become the benchmark goals for impact investing.

Being part of the initiative will also allow Clarion to benchmark its performance on sustainability against other housing associations across Europe.

Other affordable housing providers which have been awarded the label include German landlord Gewobag and French landlord Vilogia.

Rob Lane, group commercial director at Clarion, said: “As the UK’s largest affordable housing provider, creating truly sustainable communities where people can thrive is at the core of our mission.

“By following these internationally recognised standards we will be better informed about the impacts our activities have on the communities we serve.”

Source: InsideHousing

We’re Ready to Provide Affordable House – Lawal

The Kano state Commissioner for Housing and Transport, Barrister Musa Abdullahi Lawal, has assured Kano citizens that during his tenure, they should expect the provision of standard and affordable houses.

Lawal, who made this known, shortly after resuming duty on Wednesday, noted that establishing more housing estates in the state, will alleviate the challenges of accommodation in the state, adding that the state, is a cosmopolitan one, which needs decongestion.

He disclosed that the Ministry will explore the possibility of establishing Uniform Transportation System in line, with the modern transportation system, in other developed countries.

According to the Commissioner, it will ease the free flow of traffic within the metropolis, promising that the Ministry will also provide adequate strategy, aimed at sanitizing the menace of tricycle operators in the state,

Also, he disclosed, that the State Government will enact a policy of registering, each tricycle operator for proper tracking and monitoring.

Barrister Musa Abdullahi Lawal also sought the maimum support and cooperation of employees in the Ministry, toward executing his plans, emphasizing that Kano state government under his watch will provide friendly working conditions for the staff of the Ministry.

However, he warned employees of the Ministry against absenteeism, lackadaisical attitude and flouting rules and regulations, governing the conduct of Civil Service in the state..

Source: thenationonlineng

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