HouseAfrica is a decentralized real estate company and rental ecosystem founded by Uba Nnamdi and Ikokpu Ndifreke in 2017.
The startup splits properties into shares (in square meters, SQM), recorded as digital units on Blockchain, empowering their clients to own property shares from as low as 10 thousand naira.
The startup is aimed at making investments in properties easier, safer and accessible to investors starting out on any budget using blockchain technology.
They are bridging the huge housing gap for over 100 million people in the African continent living in temporary structures, HouseAfrica offers what may well be the future model for the entire industry, effectively creating a whole new category of real estate investment and renting services.
The rental returns are quite predictable, owning these shares in a property makes their clients landlords and they earn income as rents are paid and the capital has a steady appreciation level.
Overtime, the initial investment increases as a property’s value grows. Then the owner cashes out higher capital after the holding period.
Members are free to begin with 1 or 100 and clients can choose any number of property shares they desire while the properties are fully managed by trusted partners.
Each share ownership is backed by the acquired property where their Security and Exchange Commission (SEC) Licensed Trustee holds and manages the property on behalf of all the investors.
The properties are held under individual Special Purpose Vehicles (SPV’s) and are separated from the assets and liabilities of HouseAfrica, their guarantee goes beyond technology as every listed property is fulfilled by trusted third-party partners.
According to Uche Aniche of StartupSouth “HouseAfrica is an Innovation whose time has come. Now everyone can invest in real estate. The team is passionate and knowledgeable – I believe it is going to be big very soon”