Mixta Africa Shareholders Approve N12.60 Dividend

Shareholders of Mixta Real Estate Plc have approved a dividend of N12.60 per ordinary share for the 2025 financial year, following improved property sales and stronger pre-tax performance.
The approval was given at the company’s 18th Annual General Meeting held at Lakowe Lakes Golf and Country Estate, Ibeju-Lekki, Lagos.
The dividend will be paid on September 30, 2026, to shareholders whose names appeared on the company’s register as of September 2, 2026.
At the meeting, shareholders also adopted the company’s audited financial statements for the year ended December 31, 2025.
According to the results, revenue from the sale of trading properties rose to N42.7 billion in 2025 from N15 billion in 2024.
Profit after tax, however, declined to N22.1 billion from N23.6 billion recorded in the previous year.
The company said it delivered 152 homes during the year at Ibudo Wura in Lagos and Marula Park, with eligible buyers accessing mortgage financing at an interest rate of 9.75 per cent through the Ministry of Finance Incorporated Real Estate Investment Fund.
Mixta also said it had refocused its operations on Nigeria and Senegal following its exit from Morocco, Tunisia and Côte d’Ivoire.
The Chairman, Oladapo Oshinusi, said the company had moved from building its platform and securing partnerships to executing projects at scale.
The Group Chief Executive Officer, Deji Alli, said the company’s focus in 2026 would be on accelerating housing delivery, restoring margins and converting its scale into sustained shareholder value.
The company said more than 500 homes were currently under construction across Lagos and Port Harcourt.
It also plans to commence construction of the Garden City Golf Annexe in Rivers State next year, which it described as its first MREIF-aligned development outside Lagos.
At the AGM, shareholders re-elected four retiring directors and re-appointed Deloitte & Touche as the company’s external auditors.
Mixta Hands Over 27 Homes at Ibudo Wura
Meanwhile, Mixta Africa has handed over keys to 27 homeowners at its Ibudo Wura housing development along the Lekki-Epe Expressway, Lagos.
The latest handover brings the number of completed homes across Phases 1 and 2 of the development to 192.
The company said the development had benefited from mortgage financing under the Ministry of Finance Incorporated Real Estate Investment Fund, with buyers able to access financing with as little as 10 per cent equity contribution.
The financing carries an interest rate of 9.75 per cent per annum, with repayment tenors ranging from five to 20 years.
The Group Chief Commercial Officer, Adetola Akinsulire, said the company would continue to focus on delivering completed homes to buyers.
Developer Seeks Construction Finance to Tackle Housing Deficit
Mixta Africa has also called for construction finance to be incorporated into Nigeria’s proposed housing and mortgage reforms, arguing that improved buyer financing and regulation alone would not be sufficient to address the country’s housing deficit.
Speaking on CNBC Africa’s Closing Bell West Africa, Akinsulire said the proposed National Housing and Built Environment Regulation Policy and National Mortgage Industry Policy addressed the industry’s trust deficit and buyer-financing challenges but did not adequately address construction finance.
He said housing reforms should focus on three areas: strengthening trust in the housing market, improving access to buyer finance and increasing access to construction finance.
Akinsulire also said affordability should be assessed not only by the price of a property but by the length of time available to repay the cost.
He noted that Nigeria’s mortgage-to-GDP ratio remained significantly below those of South Africa and the United Kingdom, highlighting the limited depth of the country’s mortgage market.
He also backed the proposed National Housing Data Observatory, but said improved data alone would not increase housing supply without funding.
Mixta said it was also developing starter homes targeted at the mass market and supported the proposed diaspora investment window as a way of attracting Nigerians abroad into the housing market.