Alitheia Micro Home Loans Facility (AMHLF) an initiative of Alitheia Capital Limited
Alitheia Micro Home Loans Facility (AMHLF) is a debt facility operated by Alitheia Capital Limited in Nigeria, that will provide capital to micro finance institutions (MFIs) for on-lending to the economically active poor (the target market) to finance a home improvement/completion/ extension project. This facility seeks to improve the production and management of the target market’s own strategies – an initiative of “support” rather than “supply”. Housing microfinance is a relatively new initiative in Nigeria. While majority of existing MFIs recognise the need to offer this product, there is a great deficit in capacity and resources. Alitheia Capital (along with other like minded partners) seeks to act as a local platform for initiatives to support the development and growth of HMF in Nigeria. The average loan size offered by AMHLF’s partner lenders is US$2000. The facility is expected to reach over 11,000 households.
The initiative has the following goals:
- Social and Environmental: by enabling improved quality home to 11,000 households, AMHLF will contribute to rejuvinating urban slum areas and decaying fringes, thereby contributing to crime reduction, increasing the health and wellbeing of the people and contributing to an improved environment.
- Economic: AMHLF will support SMEs in several ways. It is expected that 500,000 man days of work will be created, involving US$11.5m in wages and profits to SMEs.
- Financial: meet the return expectations of investors
Funding is provided by international and local development agencies.
For more information, contact: Mrs Jumoke Akinwunmi, Managing Director / Co-Founder on email: firstname.lastname@example.org