Mixta Africa: Who Owns It, Who Funds It and What It Delivered in 2025

Mixta Africa handed over 152 homes at its Ibudo Wura and Marula Park developments in Lagos over the course of 2025, and has more than 500 homes under construction across Lagos and Port Harcourt. Those figures come from the company's eighteenth annual general meeting, held at the club house of Lakowe Lakes Golf and Country Estate in Ibeju Lekki and reported by ThisDay on 29 September 2026. For a Nigerian developer, a counted handover number presented to shareholders at an AGM is an unusually firm thing to be able to cite, and it is the reason this company can be assessed on a different basis from most of the market.

The legal entity behind the brand is Mixta Real Estate Plc. The group trades publicly under the shorter name, and the two appear interchangeably in press coverage, which matters when a buyer or an investor goes looking for filings. Securities documents and exchange notices use the Plc name.

The numbers shareholders were given

At the same meeting, shareholders approved a dividend of ₦12.60 per ordinary share, payable on 30 September 2026 to holders on the register as at 2 September 2026. Group revenue from property sales was reported at ₦42.7 billion for 2025 against ₦15.0 billion for 2024. Profit after tax was ₦22.1 billion for 2025 against ₦23.6 billion for 2024.

Those two lines are worth reading together rather than separately. Revenue from property sales close to tripled while profit after tax fell slightly. A gap of that shape in a development business usually reflects the mix of what was recognised in the year, the cost of building through a period of high materials inflation, or one off items in the prior year, and the audited accounts rather than a press summary are where the explanation sits. The point for a buyer is narrower and simpler: this is a company that publishes figures, pays a dividend, and submits itself to an AGM, which gives an outside party something to test.

Board and executive names are on the public record. ThisDay named Oladapo Oshinusi as chairman and Deji Alli, OFR, as group chief executive officer. Benson Ajayi was named as executive director and chief financial officer in a company announcement in September 2022. Kola Ashiru-Balogun was named managing director of the Nigerian operating business in a company release in June 2020, and Sade Hughes was named country manager in September 2022. Those last three titles are given as at the dates of the releases that carried them, and the sources reviewed here do not establish who holds each role in 2026.

Who owns it

The group passed into the ownership of ARM Investment Managers, the Nigerian asset manager, in a transaction reported by ARM itself in March 2013. The same report records the shareholding that preceded that change: Kingdom Africa Management held 31 per cent as the largest shareholder, Morgan Stanley Real Estate Funds held 21 per cent, and the International Finance Corporation, part of the World Bank Group, held 12 per cent. Those are historical positions as at 2013 and should not be read as the register today.

The company began as a Spanish social and economic housing builder before the ARM acquisition, which explains why a Nigerian developer carries a Spanish corporate lineage and why its group filings and its Nigerian operating activity can look like two different companies in a search result.

Who funds it

Two funding channels are documented. Shelter Afrique, the pan-African housing finance institution, provided ₦8 billion announced on 7 September 2022, earmarked for the Marula Park scheme, a 1,000 unit affordable housing development of one, two and three bedroom apartments. Sade Hughes was quoted at the time saying the funding would let the company build Marula Park faster, and Benson Ajayi described it as a validation of the company's housing and infrastructure development credentials.

Separately, the Plc runs a ₦25.00 billion commercial paper issuance programme admitted to FMDQ Exchange. Individual series are quoted on that exchange, including a Series 33 commercial paper of ₦1.66 billion. A commercial paper programme on a regulated exchange means periodic disclosure obligations and a public record of redemptions, which is a materially better evidence base than a developer whose only financial statement is its own brochure.

Named partners

The hospitality and leisure side of Lakowe Lakes Golf and Country Estate passed to Newmark Hotels and Reserves in an announcement dated 3 July 2023, covering short stay accommodation, villas in a rental pool, the cottages, a corporate lodge expanding towards about 150 keys, the eighteen hole golf course and the Revivo Sports Centre. Neil Markovitz, chief executive of Newmark Hotels and Reserves, and Tayo Kola-Daisi, chairperson of the board of Lakowe Lakes Hospitality Limited, were both quoted. The developer continued to handle residential sales and construction at the estate.

On the mortgage side, Citycode Mortgage Bank was the financing partner behind the first handover under the Mixta Flex payment scheme, which the company launched in the fourth quarter of 2019. That first unit, a three bedroom semi detached bungalow at Beechwood Park Estate near Ajah, was handed to its buyers in an event announced on 10 June 2020, with Ebilate Mac-Yoroki, managing director of Citycode Mortgage Bank, quoted alongside Kola Ashiru-Balogun.

What this does and does not settle

A documented delivery count, audited group figures, an exchange quoted paper programme and a development finance institution lender together make a stronger file than almost anything available for a small Nigerian developer. None of it tells a buyer whether a specific unit in a specific phase will be ready on the date a sales agent promises. Scheme level performance and unit level performance are different questions, and the second one is answered by visiting completed phases, asking for the addresses of handed over units, and reading the sale agreement for the remedy if the handover date slips.

Searches for this review did not surface a Corporate Affairs Commission registration number for the issuer. That is a limit on what is publicly indexed rather than a finding, and the certificate of incorporation and CAC status report can be requested directly from the company.

One housekeeping point for anyone searching: Mixta Nigeria and Mixta Africa appear as separate entries in several directories, Bektu's own among them, while the filings point to a single issuer. Developer delivery histories can be compared at https://bektu.com, and the record for this group sits at https://bektu.com/companies/mixta-africa.

For other Nigerian developers whose securities filings can be read against their delivery claims, see Zylus Homes and Properties and what the exchange filings show, who owns UPDC Plc and what it has actually delivered, and Cappa and D'Alberto Plc, its shareholders and its delisting.