Cooperative Mortgage Bank Limited has been elected to represent Africa on the seven-member board of the International Cooperative Banking Association.

A statement signed by the Head, Communication and Public Relations for cooperative mortgage bank, Mrs. Afolabi Olufunmilayo, said the bank was elected during the International Cooperative Alliance Conference held in Kigali, Rwanda recently,

The statement added that ICBA was an arm of ICA, which has one of the largest non-governmental organizations with the largest number, measuring up to 12 billion cooperative members from 109 countries. It stated further the aim of the association was to support cooperative movement all over the world.

It said “Given this, Cooperative Mortgage Bank has put Nigeria on the global map of cooperative societies and this came as a result of the collaboration between Federal Department of Cooperatives, Cooperative Federation of Nigeria and CMB to reposition the cooperative movement in Nigeria, which has potential membership of over 20 million.

CMB since its inception over 25 years ago has dedicated itself to providing solutions to housing needs in Nigeria by providing quality and affordable houses with ease of payment for cooperatives. The vision is to make every cooperator a homeowner by creating durable, quality, and affordable houses for all.

Representing Africa on the board is an avenue to foster rapid development in the housing sector in Nigeria and Africa at large as housing has been a major problem in Africa. With this new development, Nigeria and Africa will soon be at a peak in terms of sustainable housing for all.