By Damilola Fatunmise
Mixta Real Estate PLC’s ongoing expansion in West Africa has received a major boost with the approval of a USD 13 million credit line from Shelter Afrique for the construction of affordable housing in Senegal and Côte d’Ivoire. At the heart of these two pivotal projects is Adetola Akinsulire, whose leadership in conceptualizing and executing the projects has been a driving force behind their success.
As Mixta Africa scales up its housing initiatives across the continent, Adetola’s role has been nothing short of transformative. He not only developed the project concepts for the Senegal and Côte d’Ivoire ventures but also oversaw every critical step of their progression, including the complex process of securing funding from Shelter Afrique. Through his strategic vision, the two projects are poised to deliver over 500 affordable housing units in West Africa—an area where housing demand is growing at a rapid pace.
Shaping the Future of Affordable Housing in West Africa
The first of these initiatives will see the construction of 356 affordable housing units in Côte d’Ivoire, while the second will deliver 162 units in Senegal. The projects are strategically priced to serve the middle and lower-income demographics in these countries, with unit costs ranging from USD 36,000 to USD 52,000 in Senegal and USD 45,000 in Côte d’Ivoire.
For Adetola, these projects are not just about real estate development—they represent a genuine opportunity to address the growing housing deficit in both nations. His thorough understanding of the local market dynamics, regulatory landscapes, and community needs in Senegal and Côte d’Ivoire was critical in designing solutions that fit within the cultural and economic contexts of each country.
Leading the charge on funding and due diligence
One of the key reasons behind the success of the projects in Senegal and Côte d’Ivoire has been Adetola’s deep expertise in securing financing and managing the due diligence process. He was responsible for preparing and submitting all the necessary funding documentation to Shelter Afrique, ensuring the proposal met the financier’s rigorous standards for loan approval.
Adetola’s leadership did not stop at documentation. He took charge of overseeing the entire due diligence process with Shelter Afrique, working hand-in-hand with the team to conduct comprehensive evaluations of the financial, legal, and operational aspects of the projects. Thanks to his careful attention to detail and rigorous approach, the projects passed through this critical phase with flying colors.
Navigating challenges and building partnerships
For Adetola, these projects have been a lesson in navigating complex regulatory environments, collaborating with local governments, and managing relationships with key stakeholders. His ability to bring together governments, financiers, and contractors has been essential in moving the projects from concept to execution. In addition, his strategic insights into mitigating financial risks have ensured that the projects can weather potential economic shocks, especially in the face of currency fluctuations and other challenges.
Looking to the future
As Mixta Africa moves forward with its vision for affordable housing in West Africa, Adetola’s role continues to be pivotal. The projects in Senegal and Côte d’Ivoire are just the beginning. With these projects set to expand the company’s footprint in these key markets, Adetola remains committed to driving the vision for affordable, sustainable urban development across the continent.
Reflecting on the road ahead, Adetola said, “Affordable housing is one of the most pressing issues in Africa today. What excites me about this work is the opportunity to make a tangible difference in people’s lives. These homes represent more than just buildings; they symbolize hope and opportunity for families across West Africa. We are laying the foundation for a more inclusive and sustainable future.”
As the Senegal and Côte d’Ivoire projects move closer to completion, Adetola’s leadership continues to be a driving force behind Mixta Africa’s success and its ongoing mission to deliver affordable housing across the continents.