Realty Africa set to launch in Zim

REALTY Africa, a property crowdfunding platform providing investors with informed investment opportunities in all aspects of associated developments in Southern Africa, will launch in Zimbabwe by the end of next month.

Kudzai Kuwaza

Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, usually through the internet.

Realty Africa spokesman Carlos Chima said the platform would be introduced in the country later this month and will also be launched later in Botswana and South Africa.

“Zimbabwe will be among one of the first countries on the continent together with Botswana and South Africa rolling out a new and exciting innovative way of sourcing funding from a spectrum of investors foreign, regionally and locally,” Chima told businessdigest.

“This is a big deal from an investment perspective because the days of a limited few getting access to high yielding investment opportunities are going to end. It is going to be opened up to the participating general public together with institutions.”

Chima said the company aims to begin a whole new product range that will boost development across southern Africa.

This, he pointed out, will present itself in the form of property crowdfunding for residential, commercial, tourism, and infrastructure development which will help to boost development in Zimbabwe and across Southern Africa in the form of liquidity injections.

The product comes in at a time when the economy is hard hit by a debilitating liquidity crunch coupled with depressingly low foreign direct investment.

Realty Africa is led by entrepreneurs, Patrick Chella from Zimbabwe and Erik van Eeten from The Netherlands.

Together they have come up with a way of injecting much needed capital into the continent by offering a way that brings together investors and property developers onto their platform.

The assistance of an internationally recognised third party is used to perform due diligence on the investment. Developers are checked locally to mitigate the risk of offerings on the platform to safeguard investors .

In 2013, the crowdfunding industry grew to more than US $5,1 billion worldwide.

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