HomeBusiness DigestRealty Africa eye Zimbabwe infrastructure projects

Realty Africa eye Zimbabwe infrastructure projects

REGIONAL property crowdfunding platform Realty Africa has lined up several local infrastructure projects to put online ahead of its launch in the country next month.

The company, which provides property development investment options to clients in Southern Africa, funds projects or ventures by raising monetary contributions from a large number of people, usually through the internet.

“We have a broad range of property projects that are about to come online.” Realty Africa spokesman Carlos Chima told businessdigest on Tuesday “These include a student housing project, cluster home development projects in Chisipite and Greendale, and a tourism project in Victoria Falls”.

Chima said they were still discussing modalities with developers. He said the initiatives will form part of a wide variety of projects for consideration by investors.

He also revealed that Realty Africa co- founder Erik van Eeten facilitated a panel discussion on Tuesday focusing on investment opportunities in Zimbabwe at the Global African Investment Summit in London.

The summit was attended by the summit chairman and former Nigerian President Olusegun Obasanjo, Rwandan President Paul Kagame, Ugandan President Yoweri Museveni, Ghanaian President John Dramani Mahama and Tanzanian Prime Minister Mizengo Pinda.

Chima said plans to establish a base in Zimbabwe were at an advanced stage with the launch expected in mid-November.

The product comes at a time the Zimbabwean economy is hard hit by various problems which include a debilitating liquidity crunch, coupled with depressingly low foreign direct investment.

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

Together they have come up with a way of injecting much needed capital into the continent by offering an arrangement 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$5,1billion worldwide.

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