One of the challenging parts of leading an Evergreen® company is finding balance between and honoring imperatives that occasionally seem to come into conflict. For example, is it always possible to honor both Profit and Purpose, or does one sometimes dictate that the other must take a back seat? In non-Evergreen companies, the answer to this is easy–profit first, always–but for leaders who strive to honor all seven of the Evergreen 7Ps® principles, it can be hard. Two Tugboat Institute® members, Lance Walker Jr and Michael Spraggins, have recently undertaken a collaborative venture that is grounded in their shared conviction that business can be both a force for good and a strong investment. They have found a way to honor Purpose and Profit simultaneously.

Lance and Michael were old college friends from Auburn University. They lost touch, but reconnected a few years ago, which was the happy circumstance that led Lance to Tugboat Institute. As they rediscovered their friendship, their alignment through their Evergreen mindset and, importantly, their faith, brought them close again. But they could not have predicted it would lead them across the globe to Rwanda.

The seeds of this venture were planted during the Great Recession, when Michael created a nonprofit called LifeNet International. LifeNet was founded as a faith-based organization that works to improve healthcare in sub–Saharan Africa. Starting in Burundi, LifeNet has since expanded across seven countries and has served more than 40 million patients since inception.

Michael continued to spend time in Africa and began to wonder if there might not be opportunities to start a profitable business in Africa. He observed several megatrends emerging across the continent, including rising population, increasing urbanization, and rising GDP per capita, and it became clear that there was a huge opportunity to build significant businesses in the frontier markets of the continent.

In 2020, Michael started to lay the groundwork. He partnered with a friend from Orlando who moved his family to Rwanda, and together they launched Fortis Green, which they ultimately decided would focus on two divisions: renewable energy—primarily small-scale hydroelectric projects throughout sub-Saharan Africa—and housing, primarily rental housing, in Rwanda itself.

In the years since the genocide, Rwanda had established itself as one of the most stable and fastest-growing countries in Africa. The country is experiencing rapid urbanization and economic growth, creating significant demand across a range of industries. This growth, combined with a relative scarcity of investment capital and technical know-how, has created both huge opportunity for profit, and significant societal need for strong businesses to fill that need.

As Fortis Green was getting its footing and clarifying its strategic direction, a fortuitous opportunity presented itself. During the early days of the pandemic, a stalled 400-unit apartment development in Kigali came up for sale. The opportunity was clear, and Fortis Green stepped in to acquire the land and infrastructure. So the idea took shape, but all the pieces were not yet in place.

Around this time, Michael had reconnected with Lance, and he shared his stories of LifeNet and Fortis Green. Lance was curious, so they took a trip together in early 2022. They visited LifeNet projects, renewable energy sites, and, importantly, the Kigali housing site.

Michael’s company, Spraggins Inc., is a building supply company, not a general contractor. While they partner with a great many construction companies, so they know the industry, construction is not a capability or an area of expertise they possess. Lance’s company, Walker & Company, on the other hand IS a construction company, and one with a particular expertise in building large apartment complexes. They have constructed over 40,000 apartments in Florida and are one of the largest housing construction companies serving the region.

Michael asked Lance, “would you be interested in joining Fortis Green as a partner, taking the lead in our housing business?” Lance went home, thought and prayed on it, and consulted with his wife, who was enthusiastic. He decided to jump in and join Michael, becoming a partner in Fortis Green Housing. He now serves as its de facto managing director.

Fortis Green Housing’s goal is to deliver quality, middle-class purpose-built rental housing—a concept that, until now, hasn’t existed at scale in Rwanda. Their target market is this emerging demographic: a growing middle class priced out of homeownership but eager for quality housing options. As a business endeavor, the macroeconomic trends described earlier support their approach. Throughout Africa, rapid population growth, urbanization, and rising GDP per capita is rapidly increasing the demand for formal housing—the kind that looks like housing, not slums. However, the infrastructure for this industry has never existed there, so the capacity to provide it is low, creating both need and opportunity.

The high-level strategy of Fortis Green Housing is to build high-quality apartments, hold the properties long-term as landlords, and generate a steady income stream. An important part of Michael and Lance’s approach and endeavor is grounded in the fact that they’re both in the U.S. construction business, which is highly cyclical. The initiative in Rwanda is disconnected from the US market, so Fortis Green will provide an uncorrelated income stream that will serve to stabilize each of their family enterprises through the ups and downs they naturally experience.

Michael and Lance are clear that this venture is serious and long-term. It’s not a hobby, and it’s not simply philanthropy. Although it’s good to do good for the people, and something they seek to do as part of their faith, it’s also meaningful for their businesses.

They are already seeing the difference their approach is making on the ground. By applying U.S.-style business ethics and a People First philosophy, Fortis Green Housing is attracting top talent. While many foreign developers import labor, Fortis Green is committed to hiring locally. That includes working with graduates of “Bridge to Rwanda,” a nonprofit program that helps high-achieving Rwandan students earn U.S. college degrees and return home to rebuild their country.

The project has drawn attention inside of the country. A well-connected Rwandan family has stepped up to partner with Fortis Green on future developments. Just by doing things the right way, they’ve already been identified as a company that people want to work with. Their developments will help densify urban centers, a priority for the Rwandan government as cities expand. The regulatory environment has been cooperative, and the cost of building—thanks to local materials and labor—makes the economics work.

Lance estimates he spends about 20% of his time on the project, with quarterly trips to Rwanda. Michael, whose business life now includes a third of his focus on Fortis Green, travels there a few times per year. Their third partner is based in Kigali and leads day-to-day operations.

With multiple projects in the pipeline and a growing reputation in Kigali, Fortis Green Housing is just getting started. The company is already exploring ways to scale beyond what their own capital can support. Both Michael and Lance see this as a cornerstone of their long-term business portfolios. And as they both agreed, “We would not do this if we didn’t think we could improve the lives of people. The profits must exist so we can do it at scale—but this is about positive impact on everyone we touch, our residents, employees, investors, and society.”