Àrgentil Capital Partners acquires 20% stake in Tempo Housing Nigeria

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Àrgentil Capital Partners has acquired a 20% stake in Tempo Housing Nigeria, a Nigeria based developer of innovative housing solutions.

Tempo Housing specialises in developing flexible and affordable residential and work spaces using modern prefabricated technology.

Àrgentil also provided debt as part of its overall financing to the Company.

Àrgentil is investing through the Àrgentil Principal Investment Portfolio II (APIP II), an evergreen SME vehicle which invests equity and debt in small and medium scale companies operating in Nigeria.

The Investor aims to support underserved SMEs operating across different sectors of the economy.

APIP II is currently being backed by a number of commercial institutions and family offices.

This is APIP II’s third investment having previously backed Winchester Farms, a meat and poultry processing company and Chocolate City Lounge, a consumer and entertainment retailer.

Àrgentil’s financing will support Tempo Housing execute its expanding portfolio in the residential segment of the market where the company is developing affordable housing projects to meet the significant demand-supply gap, as well as flexible work and commercial spaces for many of its clients.

Àrgentil is backing the company based on its strong management team lead by both Dele Ijaiya-Oladipo and David Aderounmu and growth prospects within the Nigerian real estate market.

The investment also expands Àrgentil’s activities across the real estate market as the firm has completed a number of residential and commercial properties in Lagos and currently has over 70 units of residential units under development in the City.

Gbenga Hassan, Partner at Àrgentil led the deal.

Olajide Oyewole, a member of DLA Piper Africa, provided legal advisory services to Àrgentil.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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