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Nigerian Low-Cost Mortgage Lender Set for $1.4 Billion Boost
LAGOS (Capital Markets in Africa) – Nigeria’s government plans to inject 500 billion naira ($1.4 billion) into its low-cost mortgage lender over the next five years in an effort to spur home ownership that has failed to take off in Africa’s most-populous nation. Faced with a housing deficit of 17 million units, Nigeria is seeking to improve access to home loans in an economy that vies with South Africa as the continent’s biggest. A lack of…
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