Using an innovative finance tool to spur development in low-income countries, IFC, a member of the World Bank, has announced the completion of a $9 million investment that aims to expand the availability of housing finance in West Africa.
Hermann Kamte, young Cameroonian architect and the founder of company Hermann Kamte & Associates (HKA), is the driving force behind the famous sketch of Lagos Wooden Tower.
The German Government announced its commitment of EUR 23.4 million to support infrastructure work in Somalia.
Despite its existence for more than ten years, the Nigerian REITs market is underdeveloped with only three established and with a combined market capitalization of $151 million, or 0.36 per cent of the local stock market.
American private equity firm Milost Global Inc. has announced that, together with its African subsidiary, Isilo Capital Partners it has closed the acquisition of a 100 percent interest in Primewaterview Holdings Nigeria Limited.
The real estate firm, Land LayBy was founded by Dr. Peter Tole, a Kenyan medical doctor resident in Australia, in 2014. Land LayBy is a unique combination of assistance to Africans in diaspora and accelerating economic growth on the continent.
2018 is set to be a revolutionary year for Africa as the Land LayBy Holdings, the parent holding company of a flagship of real estate & fintech companies sets the pace for the incorporation of blockchain technology in the African real estate sector.
[South Africa] Castleview Property Fund becomes twentieth company to list on the Johannesburg stock exchange this year
Castleview Property Fund has listed on "Retail REITs" sector of the JSE's AltX board. Castleview is the 20th company to list on the JSE this year.
MRI Software, a global provider of real estate software solutions has acquired MDA Property Systems, a property management and accounting software company based in Cape Town, South Africa.
Sandown Capital Limited has listed in the Equity Investment Instruments sector on the main board of the JSE becoming the 18th company to list on the JSE this year.
MARAKEZ, a subsidiary of Fawaz Al Hokair Group, has selected Yardi Voyager® 7S to electronically manage its lease and property management process for its leading shopping mall in Cairo, Mall of Arabia.
ToLet.com.ng, Nigeria’s leading online property classifieds portal, has in conjunction with their existing investors, Frontier Digital Ventures, acquired Jumia House Nigeria, a competing property portal, for an undisclosed sum.
Ghana’s President Nana Akufo-Addo has led the ceremonial ground-breaking of the first phase of a 2,000-unit affordable housing project financed by Ghana Home Loans at Appolonia City, Accra's new city development.
[Nigeria] Marriott International and Landmark Africa Group announce signing of renaissance Lagos hotel
Marriott International and Landmark Africa Group have announced the signing of Renaissance Lagos Hotel and Marriott Executive Apartments.
The Board of Directors of the African Development Bank Group (AfDB) has approved $ 25 million in Kwacha equivalent to Zambia National Building Society (ZNBS).
4Sight Holdings Limited has listed in Non-Equity Investment Instruments sector of the JSE's AltX board aimed at small and medium-sized companies.
Sompo International strengthens position in Africa through alliance with Sanlam Limited and SAHAM Finances
Sompo International Holdings Ltd, a Bermuda-based specialty provider of property and casualty insurance and reinsurance and wholly owned subsidiary of Sompo Holdings, Inc. (Sompo), has launched a new strategic partnership in Africa.
[South Africa] Brainworks becomes first Zimbabwean company to have primary listing on the Johannesburg Stock Exchange
Brainworks Limited has listed in the Equity Investments Instruments sector on the main board of the JSE.
World Bank and partners sign $155 million package to support access to affordable housing finance in West Africa
The West African Development Bank, the WAEMU Commission, the West African regional mortgage refinance company and the World Bank have signed a $155 million package to support the development of affordable housing finance in West Africa.
[South Africa] Old Mutual Alternative Investments acquires 50 percent stake in Faircape Life Right Holdings
Old Mutual Alternative Investments (OMAI), Africa's largest private alternative investment manager, has acquired a 50% interest in Faircape Life Right Holdings for an undisclosed sum.
China Minsheng Drawin Technology Group (CMIG Drawin), a unit of investment conglomerate China Minsheng Investment Group, has launched the John Dude New City project in South Africa's Gauteng province.
Primrose Properties Ghana is pleased to announce that it has received a follow-on investment from the Atlantic Coast Regional Fund, managed by Advanced Finance and Investment Group Funds.
Hilton has committed a total of $50 million over the next five years towards the Hilton Africa Growth Initiative to support the continued expansion of its Sub-Saharan African portfolio.
RESTANCE, Inc has announced a new Chief Executive Officer to lead the Company's East African Economic Development Strategy.
Oladunmade Otitoola, an entrepreneur and beneficiary of the Tony Elumelu Entrepreneurship Program in 2016, is founder of RentYourHall, Nigeria. Africa Business Communities poses him some questions on development of the startup.
Improvon Group, one of South Africa’s most established logistics and warehouse property specialists, is poised to disrupt the sector in key sub-Saharan distribution markets, following a recent joint venture with Actis.
International investment institutions expected Egypt to witness a significant economic improvement starting next year in terms of foreign investment inflows, especially in the oil and gas, real estate and consumer product sectors.
[Mauritius] LUX Resorts & Hotels implements 100% renewable energy production project on Ile des Deux Cocos property
LUX Resorts & Hotels has implemented 130 solar panels and batteries to fully substitute diesel-based power generation for the needs of Ile des Deux Cocos, off-grid South-East Mauritius.
East Africa’s largest real estate project is rapidly taking shape as the region’s newest, most modern city. Although planned as a 20 to 25-year project, Kenya’s Tatu City is already beating its own infrastructure deadlines.
Appolonia City, Accra's new city development, will build 100 affordable homes as part of a partnership with the country's leading mortgage provider, Ghana Home Loans.
Rentorr is a dynamic online platform that brings together property owners, real estate players, vendors, people who want to rent a home, in one space. It offers solutions that completely align with the realities of the 21st century.
[South Africa] AXS Systems makes residential estate, office park management easier with integrated online platform
AXS Systems recognizes the challenges faced by South African residential estates and office parks who struggle to manage various aspects of their communications and resident interactions.
African Property Group is launching eight new websites in emerging African nations that will allow the populations to search for properties, using their computers or mobile phones.
Researchers predict that in 2030, Lagos, Cairo and Kinshasa will each have to cater for over 20 million people, while Luanda, Dar es Salaam and Johannesburg will have crossed the 10 million mark.
African Property Group has launched last January eight websites in emerging African countries that allow local people to find properties for sale or rent using their computers or mobile phones.
Governments across East Africa are set to change transportation and trade development by investing in the expansion and rehabilitation of existing roads, the creation of new road links between key cities and cross-border connections
Namibia Mortgage Acceptance Corporation ("Namibia MAC"), a subsidiary of Africa Growth Corporation has announced its intention to launch a Regulation D (506(c)) debt offering as it seeks to secure funds through accredited investors to facilitate access to financing solutions
The focus section of the latest edition of the Kenya Economic Update by World Bank has been dedicated to analyzing Kenya’s housing market and the policies that can be put in place to make housing more affordable for many Kenyans, as stipulated in the Constitution of Kenya 2010 and the National Development Plan, Vision 2030 Strategy.
Notwithstanding the negative growth recorded in 2016, the real estate sector is expected to grow at an average rate of 5.39 per cent between 2017-2020.
Marriott International to debut Aloft Hotels in Mauritius with signing of the brand’s first adaptive re use project in Africa
Marriott International, Inc. has announced plans to launch its cutting-edge Aloft brand in the capital city of Mauritius with the signing of Aloft Mauritius Port Louis. Slated to open in early 2019, the hotel will be the brand’s first adaptive reuse project in Africa.
Kwara State Government has signed a partnership agreement with the Africa Nations Development Programme (ANDP), to build 5,000 housing units in the state.
Halima Aliko Dangote was recently appointed the president of The Africa Center in New York City (with the major responsibility of raising capital for the center. The goal is to raise funds to complete the center building in New York.
The African Development Bank has disbursed an equity investment of $8.2 million in Shelter Afrique, a Development Finance Institution investing in affordable housing for Africa.
The past decade has seen significant growth in most key sectors of the Kenyan economy, thanks to a vibrant private sector and the ever-increasing foreign appetite for investments in Africa.
IFC, a member of the World Bank Group, has announced a financing agreement with the West African Economic and Monetary Union’s Caisse Régionale de Refinancement Hypothécaire,
Kenya’s premier mortgage lender Housing Finance has announced that it intends to introduce a credit facility that will allow subscribers access loans at below market rates, as it seeks to increase home ownership numbers in Kenya.