Affordable Housing Initiative Launched in Abuja for ₦20,000

Kende Multipurpose Cooperative Society Ltd, founded by Andrew Ogaga, has introduced a housing initiative aimed at residents of the Federal Capital Territory (FCT) in Nigeria. The cooperative offers a flexible savings plan requiring a minimum investment of ₦20,000, which will earn members an annual interest of 20%.

This initiative is designed to help Nigerians acquire property in Abuja without significant financial burden. Currently, the cooperative has 400 active savers and is licensed to operate under legal agreements that ensure the safety of contributions.

The official launch of the cooperative is scheduled for February 14, 2026, with a pilot phase beginning in January 2025 and running until January 2026. Ogaga emphasized that the cooperative aims to assist individuals in saving for specific purposes, such as building homes or purchasing land, thereby promoting home ownership in Abuja.