Nigeria’s ambitious “economic recovery plan” is not going according to plan

After Africa’s largest economy suffered a recession in 2016—its first in over two decades, the government came up with an answer. Or at least it thought it did.Based on hopes of aggressive growth, the Nigerian government launched its “Economic Recovery and Growth Plan” (ERGP) in March 2017 with a string of bold projections to turn the slump around. But latest data from Nigeria’s statistics bureau (NBS) shows the plan is well off-course.

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Uhuru launches mortgage refinance company to boost affordable housing agenda

– The Kenya Mortgage Refinance Company (KMRC) was established under a public-private partnership arrangement

– The company will provide long-term cheaper loans to primary mortgage providers, including banks, microfinance banks and Saccos

– Uhuru said the new venture is aimed at addressing the deficit in housing created by the huge rise in the country’s population

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Angola cancels mega real estate deal awarded to Isabel dos Santos

In a decree, it said the contract had been cancelled “after establishing overcharging” and denounced a “violation of moral principles”. In January 2016 former president Jose Eduardo dos Santos approved a tender awarded to several companies — including Urbinveste, in which his daughter Isabel is the main shareholder.

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NIESV Nominates Affordable Housing Provider for Honours Nite Award

The Nigerian Institute of Estate Surveyors and Valuers (NIESV) of the Lagos State Branch has invited EchoStone, an international solution provider focused on affordable housing, to their 13th Honours Nite Awards. Furthermore, EchoStone Nigeria has been nominated for “Most Innovative Building Material in The Industry.” The event is scheduled to be held in Lagos Thursday, May 23rd, 2019.

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Stanbic IBTC wins regional awards in pension, wealth management

Stanbic IBTC Holdings PLC’s entities have won the Best Asset/Fund Management Company and Best Private Banking Business in Wealth and Society West Africa at the Global Wealth and Society Awards West Africa 2019. The awards further validate Stanbic IBTC’s standing as a leading end-to-end financial services organisation with market leadership across segments, including wealth management, corporate and investment banking, pension fund administration, stock broking, custody, trusteeship and others.

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Estate Developers Highlight Investment Opportunities at Yaba

Yaba, an area located on the mainland of Lagos State is attracting investors and real estate developers in droves for five strategic reasons.

The Director at Prindex Properties, Tolu Bawa-Allah, who disclosed this, listed its proximity to other areas in Lagos mainland and Victoria Island as one geographic feature that endears Yaba to a teeming number of working class people. “It has a high density of middle income earners who work on the Island but seek relatively upscale yet affordable residential accommodation on the mainland that is as close as possible to the Island.

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