If you’re an African in diaspora or invest in Africa. You should get to know about Afriscaper.

It’s an ambitious start-up planning to raise $1 billion in crowdfunding for African real estate & infrastructure projects.

According to data from the World Bank, it is estimated that Africans in Diaspora remit as much as $120 billion annually to their home countries.

The largest of such remittances goes to Nigeria. The country’s Finance Minister, Mrs Kemi Adeoshun recently announced that Nigerians in Diaspora remitted $35 billion home in 2016. This would make Nigeria’s Diaspora remittances the third largest in the world behind China & India.

According to Afriscaper’s research team, as much as 40% of the remittances by Nigerians go to real estate projects. It is estimated that the home remittances by Africans in Diaspora account for 30%-40% of the savings of the African Diaspora meaning an estimated $300 billion in savings is sitting across the world earning almost 0% in interest.

Afriscaper’s platform seeks to provide a structured and transparent way for Africans to invest in real estate projects with a target of channeling $1 billion, a small percentage of the diaspora remittances & savings to real estate and infrastructure projects over the next 3 years.

View Institutional Quality African Real Estate Deals

The Perception Challenge

According to Afriscaper’s CEO Mr Adebola Omololu:

There is a poor perception of Africa by many foreign investors. They do not understand the African markets and typically stay away. However, Africans in Diaspora are global ambassadors for brand Africa. They have the dual advantage of understanding the African markets and foreign markets where they reside. They are ready to invest back home but face the challenge of finding a trustworthy platform that would help them vet the possible investment options. Based on this, we’ve developed Afriscaper to meet global crowdfunding regulatory standards following the guidelines of the UK’s Financial Conduct Authority as well as Hong Kong’s Securities & Futures Commission and at the same time providing simplicity and transparency for investing in real estate & infrastructure projects in Africa.

How Afriscaper Finds Credible Projects

Afriscaper has developed a proprietary 32-step vetting process where over 350 factors are considered to determine if the project should be listed on the platform. It was also thought prudent to bring a renown third party, PWC, the global audit and consulting firm, to perform the due diligence on both the property developer and the project. This gives more comfort to investors to make an informed decision. Other investigations include background checks of fraud, criminal, and credit checks. An assessment of the market conditions, the viability of the project and its bankability are also considered.

Will Afriscaper meet this $1 billion milestone? Only time will tell.

It’s free to sign-up on the Afriscaper platform and minimum investment on most projects is $1,000. Have a look around. Sign-up to view the investment opportunities available on Afriscaper.

Image Credits Eko Atlantic City Development