East Africa Club Meeting Nairobi - Kenya, 15th March 2017


East Africa – Giant Strides or still Baby Steps?

GRI Africa Club met for the first time in East Africa on 16th of March. In Nairobi, the Club Meeting gathered the Club's founding members in the region. Chaired by Britt Gwinner, the likes of Jonathan Jackson, Christine Glover, Kenneth Kaniu and friends discussed the major challenges of the day...

Infrastructure Obstacles

Participants expressed their concerns over infrastructure and a lack thereof. The general consensus was that Kenya requires urgent attention to transport infrastructure, specifically roads and railways to fill the current void.

Lack of Adequate Data

Members agreed that much of the data in the market sat with individuals, stunting the industries progression.

Affordable Housing Spectrum

Members indicated that Affordable housing projects weren't moving as there is no exit. However, some believe opportunities in the asset class lie in the rental space as had been successfully demonstrated by other nations. The mortgage market problems were reiterated as only 20 - 30 thousand people had mortgages in Kenya, due to high interest rates.

The Co-operative Movement

Members highlighted that the co-operative movement still remains the strongest base of mass housing and it was stressed that the market needed to utilize what they currently had.

Government Frameworks

Many said that there were currently Inadequate regulatory frameworks to support development. Land prices are going through the roof adding to the risk of completing the build and that the government could intervene to find solutions to this. Members felt that there hadn't been a proper broad industry push to government and that there needs to be a single voice to overcome the government challenges.


Many believe that the recent retail developments have saturated the market and that there aren't a lot of new retailers entering the market. However, it was said that there are still opportunities in certain locations.

Among the participants were: Britt Gwinner (Head of Housing Finance, IFC Sub-Saharan Africa), Christine Glover (Head Development Impact Funds, Old Mutual Investment Group), Jonathan Jackson (Chairman, Lordship Africa), Steve Mainda (Chairman, Housing Finance), Kenneth Masika (CEO Fahari I-REIT, STANLIB Kenya).

Advisory Board
Adeniyi FaladeAdeniyi FaladeCEOCrusader Sterling Pensions
Britt GwinnerBritt GwinnerHead of Housing FinanceIFC Sub-Saharan Africa
Colin MuketeColin MuketeChairman & CEOCaisse Properties Group
Kunle Barry OsilajaKunle Barry OsilajaGroup Head of Real EstateEcobank Capital
Martin BachmannMartin BachmannGroup Head Active ManagementQuantum Global Group
Nick LangfordNick LangfordCountry Head - KenyaRendeavour
Peter LevettPeter LevettManaging DirectorOld Mutual Property
Ronald Chagoury JrRonald Chagoury JrVice ChairmanSouth Energyx Nigeria Limited
Uzo OshogweUzo OshogweCEO/MDAfriland Properties Plc.
Adeniyi Falade
Mr. Adeniyi Falade is a chartered accountant and an investment Banker. He had his professional accountancy training at PwC, Lagos. Before his appointment as Managing Director, he had served as the MD of Lead Capital and Head of Investment Banking of Ecobank Nigeria and Lead Bank. He had also at various times served as Head of Internal Control/ Chief Inspector and Head of Risk Management Department of Lead Bank. He holds a MBA from the University of Warwick, United Kingdom and a BSc degree, Chemistry from the University of Ibadan. He was appointed onto the Board of CrusaderSterling on Feb 7, 2007 as MD/ CEO of the Company. He also serves as a non-Executive Director on the Board of Custodian Life Assurance and Interstate Securities limited.
Britt Gwinner
Head of Housing Finance
IFC Sub-Saharan Africa
Nairobi | Kenya

Britt Gwinner is Head of Housing Finance for IFC’s Financial Institutions Group. Prior to joining IFC, Britt led engagements on housing policy for the World Bank, in Latin America, Eastern Europe, and Central and East Asia. Also at the World Bank, he led projects on stress test and asset-liability modeling for the World Bank’s own balance sheet. Before the World Bank, Britt participated in the development of risk-based capital models and capital requirements for U.S. housing finance institutions, and he worked in financial consulting for Fortune 500 companies. Britt holds an MBA in Finance and a Master’s in Public Policy from the University of Chicago, and a bachelor’s degree from George Washington University.

Colin Mukete
Chairman & CEO
Caisse Properties Group
Yaoundé | CAMEROON

Mr. Colin Mukete serves as the Chairman & CEO of Caisse Properties Group. Mr. Mukete is a Cameroonian businessman with broad business interests in telecommunications, TV broadcasting, agri-business, property development, construction and asset management. He serves as serves as the Chairman of the board of directors of MTN Cameroon and has been a Member of the Advisory Board at International Mining & Infrastructure Corporation plc since March 2015.

Kunle Barry Osilaja
Group Head of Real Estate
Ecobank Capital
Lagos | Nigeria

Responsible for leading and managing all Ecobank real estate Investment related business within the Ecobank footprint and Portfolio managing core select asset. With over 25 years’ experience in international Real Estate, Kunle was Chair of Lead Directors and Head of Debt & Structured Finance of Jones Lang LaSalle Corporate Finance. He has extensive experience in real estate advisory and has worked on a wide variety of real estate transactions including asset and corporate sales, structured loan financing, equity raisings and advisory for indirect investment vehicles, joint ventures, development/project financing and acquisition funding.

Martin Bachmann
Group Head Active Management
Zug | Switzerland

Martin has a proven track record in driving business results and establishing new businesses, serving and advising public and private clients in the Infrastructure, Industry, Energy, Real Estate and Mining sector. Prior to joining Quantum Global, Martin was a Member of the Executive Board and Global Head Urban Business Group at Pöyry PLC in Finland.

Nick Langford
Country Head - Kenya
Nairobi | KENYA

Nick is a Chartered General Practise Surveyor with 25 years’ experience of managing real estate development in the emerging markets of Eastern Europe, Africa and Asia. Prior to moving to Kenya, Nick lived in Ghana as country head for Rendeavour responsible for delivery of their Appolonia City project. Before this Nick was responsible for the leasing of Avia Park, Moscow, Europe’s largest shopping and Entertainment Centre ; and prior to this delivered the Masterplan of Green Tech City, Hanoi.

Peter Levett
Managing Director
Old Mutual Property
Segment: Property Investor

Peter has been in investments for 24 years containing SA and International experience. Of these 17 years is with Old Mutual in South Africa and 5 years with Goldman Sachs investment banking in London. During his time at Old Mutual, Peter has had the roles of Head of Old Mutual’s Corporate Finance division, COO of the Old Mutual Investment Group and currently MD of Old Mutual Property since 2011. Peter has been a director of Old Mutual Property since 2000 and joined the property investment committee in 2004. Peter is responsible for the property investment & business strategy, with property assets of R18bn. He also participates in the investment strategy & is involved in selected investment committees with the Old Mutual Investment Group.

Ronald Chagoury Jr
Vice Chairman

Ronald is the Vice Chairman of South Energyx Nigeria Limited, the developers and city planners of Eko Atlantic. He has been actively involved in Eko Atlantic since the start of land reclamation in 2008. He is a driving force behind some of the city’s key developments including the Marina District of Eko Atlantic, an international hospital, international school and luxury shopping centre. He is also responsible for directing the marketing and communications strategy. He supports group efforts to build strategic partnerships with developers and financiers aimed at creating SPVs for landmark developments within the project development area

Uzo Oshogwe
Uzo Oshogwe is the managing director of Afriland Properties Plc, and joined the company when it was still known as UBA Properties. She holds a BSc in Chemistry (1989) from Ambrose Alli University, Edo State and an MSc Information Systems Design (1996) from the University of Westminster, London. She has over 20 years’ working experience, mainly in Information Technology and Banking. Prior to joining UBA, she worked for over a decade as an IT Specialist at Accenture UK based at several clients’ sites, including Jones LaSalle Europe, a financial and professional services firm specializing in real estate services and investment management.


Attendance is reserved exclusively for GRI Club Members.

If you are already a Member, contact your Club Director or email Neall to participate.

Membership is available to senior investors, lenders and developers in real estate. Non-members can enquire here to become a member and join the club meeting.



09.00 - 09.30 Registration

09.30 - 10.30 Discussion

10.30 - 11.00 Breakfast & Networking



Radisson Blu Upper Hill, Nairobi Elgon Road 00100 Nairobi Kenya
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