Onwumere: With Maxcoop, no Need to Navigate Complex Loan Systems, Save for Decades to Own a Home

Real estate mogul and Chairman of PWAN Group, Dr. Augustine Onwumere recently unveiled Max Construction Housing and Cooperative Society Limited, which he believes is a game-changing initiative that will bridge the housing deficit in Nigeria. He tells Bennett Oghifo how a prospective homeowner can start and finish the journey towards homeownership and avoid complex loan systems

Tell us about your Maxcoop initiative 

Recently, we had the inaugural edition of the Lagos State Youth Empowerment programme, featuring the launch of Max Construction Housing Cooperative Society Limited, otherwise known as Maxcoop. The idea is to bring youths of Lagos together and equip them with the necessary skills to be able to fend for themselves in the real estate industry. Maxcoop is a game-changing initiative bringing cooperative ideology into real estate marketing, and incorporating an affiliate marketing model whereby co-operators earn passive income for bringing in other co-operators. We had the inaugural lecture at Mr Empowerment International Training Center located on the second floor of Bennies Plaza, Lekk-Epe expressway, Lagos. We hope to have another one in two weeks, precisely on the 7th of next month at the Combo Hall, LTV in Ikeja. 

Explain the concept of Maxcoop in a way that a layman will understand

Maxcoop is a ground-breaking initiative that makes homeownership not just a possibility but a reality, regardless of your budget. It’s a visionary project from PWAN MAX Property & Business Solutions Limited, a proud member of the esteemed Property World African Network (PWAN Group). We have simplified the process of owning your home, breaking it down into easy, manageable steps that put the power back in your hands. Now, people who are desirous of owning a place they can call their own home do not need to save for decades or navigate complex loan systems. With Maxcoop, anybody can be a homeowner by becoming a co-operator and own a home of their choice by just contributing 50% of the cost of their desired house type, in a short time. 

How does it work?

Register as a Co-operator: Choose the membership level that suits you best—Bronze, Silver, Gold, or Platinum—and pay a registration fee that fits your budget. Select Your Dream Home. We have over 300 exquisite house designs tailored to varying membership categories; and there’s something for everyone—from cozy studio apartments to luxurious duplexes. Then begin to contribute towards your desired house type. Once you’ve contributed 50% of the cost of your house type you receive the keys to your dream home. You can move in immediately and pay off the remaining 50% over 4-5 years while enjoying your new space.

What inspired the Maxcoop initiative?

Nigeria faces a severe housing shortage and lacks adequate mortgage facilities. Where mortgages are available, the requirements are excessively stringent. As a result, many Nigerians cannot afford even basic homes like one-bedroom, two-bedroom, or bungalow units.

This realisation led to the creation of Maxcoop. In 2022, I was troubled by the fact that since its inception, PWAN Max—one of the 63 affiliate companies under PWAN Group—had sold over 40,000 plots in four years, but less than 0.1% of buyers had started building. This disconnect between land ownership and home ownership goes against PWAN Group’s vision of making homeownership a reality. To address this, we needed a solution to encourage clients to build homes on their purchased plots. On August 24, 2024, we launched the Max Construction and Housing Cooperative Society Limited, a cooperative registered in 2023. Through this initiative, members can contribute towards building their own homes, bridging the gap between land ownership and homeownership.

What would you say is the reason many of your clients do not start building even after purchasing their land? 

Many landowners delay building because they are overwhelmed by the high costs, which can run into millions. This makes the idea of starting to seem daunting and discouraging. However, the key is to begin with what you have. For example, during the launch of Maxcoop, I shared how Prof. Julius Oyedemi, a son from the PWAN Group, started an estate with just N400,000. He used this to dig the foundation and laid the blocks gradually, and three years later, Cedarwood Luxury was fully developed and occupied. The journey to homeownership doesn’t have to be overwhelming. It’s about starting small and building gradually, just like in a gym where people draw motivation from others working out around them. When landowners see others making progress, they are encouraged to keep building, step by step, until they achieve their dream home. Maxcoop creates a synergy where members can pool resources together to build homes faster. When members see others contributing and making progress, it motivates them to increase their own efforts toward building their homes. Beyond contributing, members can also earn income by recruiting others into the cooperative through a network marketing system. While signing up is free, activating an account requires a minimum of N25,000 registration fee renewable annually.

The recruitment process is managed separately by an entity under Mr. Empowerment, which provides a platform for people to join and start contributing toward homeownership. A significant advantage of Maxcoop is price stability; for example, if a house costs N50,000,000 today, it remains at that price for the member, even 4 to 10 years later.

How?

We believe a home can be broken down into its basic materials—cement, nails, wood, doors, tiles, and more. Think of a house as a puzzle that comes together piece by piece. Through Maxcoop, members pool their funds into a cooperative account to buy and stock building materials in advance. This way, we protect against inflation, as the materials’ value increases while they are stored, rather than having money lose value in a bank. For example, if you contribute 50% of the cost of a house worth N50,000,000 in 2024, and continue contributing over five years, you can still get the house for N50,000,000 in 2029. Additionally, members can earn commissions by recruiting others into the cooperative and from the payments made on their homes. The goal is for everyone to become a homeowner. It’s crucial to break the cycle of generational tenancy and create a future where every generation builds homes, solving the housing shortage in Nigeria.

So, can you confidently say that this is for real and their money is safe?

Yes, I can confidently say that this is a real initiative designed to make homeownership accessible and affordable. The cooperative structure ensures transparency and collective decision-making, meaning members’ money is actively working towards their goal of homeownership. Additionally, the system’s safeguards, such as warehousing materials, mean that your investment is protected from market fluctuations. While any investment carries some risk, Maxcoop is structured to minimise these risks and provide a reliable path to homeownership. Our mission is to make homeownership a reality for every Nigerian. Through Maxcoop, we provide a practical and collaborative path for people to pool resources, buy materials in bulk, and build homes at stable costs. Our approach focuses on affordability, transparency, and community support, ensuring that every member has the opportunity to own a home. As the President of MaxCoop, I promise that anyone who contributes to our scheme will have their money secured and well-managed. We have strong security measures in place, including safeguarding our warehouses. For materials like cement and iron, we buy in bulk and store them with manufacturers until needed, ensuring the safety and value of your investment.

How has the response been?

The response was incredible—the hall was packed to capacity with attendees. Since we call it empowerment, we ensure constant training. On August 28th, we held a session from 10 am to 2 pm that started with fewer than 10 people but grew to over 70 participants. We also offer free youth training every Friday and Sunday at 7:30 pm online, and every Wednesday and Thursday at the Mr. Empowerment International Centre in Lekki. These sessions help address concerns, and open minds and encourage participants to embrace the programme.

Is this opportunity open to your past clients in the real estate business?

Yes, the Maxcoop opportunity is open to everyone, whether you are a past client or not, regardless of where your land is located—even if it’s in your village or another state. Once you show us your land, we will assess the cost of building your chosen house and provide you with a bill to start paying. 

Is there any particular message you want to send to the public? 

The message is clear: Own a home—no excuses with Maxcoop.