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News Release


East Africa Property Summit Blog Piece

Chinwe Ajene-Sagna attends the EAPI and shares her thoughts

"The Fastest Billion –The story of Africa's Economic Success" (by Arnold Meyer) epitomizes the vision behind the East Africa property investment summit. We are reaching a tipping point where Africa will be joining the mid-class at a faster pace than any other people in the history of mankind. What are the implications, particularly for real estate investments and investors alike on the continent? The speakers and audience members sought to address this through-out the conference.

While actively listening to the thought-provoking panellist and networking with conference attendees at the summit, 3 major themes seemed to emerge as to the implications of this vision for me and my clients in the West Africa space.

1)     The power of China – China as a partner for Africa, is here to stay. Given their staggering population growth, it has become more and more evident that China needs Africa just as much as Africa needs China and benefits from their investments on the continent. This symbiotic relationship will continue.

  • Implications: My kids should take mandarin classes!

2)     The power of Regional Integration – East Africa Community (EAC) as a group accounts for a population of 150 million people, with a GDP of 100 million USD combined.  Clearly, there is strength in numbers.

  • Implications: West Africa Community (WAC or ECOWAS) business and political leaders need to continue to support stronger economic and trade relationships with their neighbours.  Closer ties will strengthen the region and propel it to the lime light as a power house that will attract more investors - both foreign direct and local.

3)     The power of REITS – Already accounting for 34 billion USD of investments in the EAC, the demand for REITS will only continue to increase and diversify.

  • Implication: This spells out a great opportunity for investors who can configure the right formula for REITS in West Africa.