Recently, I had a meeting with one of the largest wealth management companies in the world. For those who do not know, wealth management companies are companies that advice wealthy people on how to manage and expand their wealth.

During the meeting, one thing became very clear to me; even one of the largest wealth management companies with a diverse pool of funds and fund managers had no wealth management portfolios for Africans or Africans in Diaspora.

Not only this, they were unable to point to a fund manager who focused on African assets. As someone who has made my wealth from investing in African assets particularly in African real estate which provides up to 20 times the return as compared to the average returns on the S&P 500 Index, I left the meeting perplexed.

Why aren’t the great opportunities to grow wealth in Africa being promoted?

I found clarity when I remembered one of my favourite sayings.

Until the lion hires its own storyteller, the story of the hunt will always glorify the hunter

According to the International Fund for Agriculture Development (IFAD), Africans in Diaspora remit $40 billion annually to the African continent. However, research from China which also tracks informal flows estimates that the actual remittances are closer to $120 billion.

Credence was given to the research conducted in China when Nigeria’s Minister of Finance, Mrs Kemi Adeoshun publicly stated that remittances from Nigerians in Diaspora in 2016 topped $30 billion. This means that Nigerians in diaspora account for about 6% of Nigeria’s GDP.

We’ve established that there are wealthy Africans in Diaspora, the question is, ‘Are there any transparent means of managing and growing their wealth leveraging on their heritage?’

Whilst not a wealth management platform in the traditional sense of it, I’d like to introduce you to Afriscaper, a platform I co-founded.

Afriscaper is a real estate platform that provides transparency and simplicity to investing in African real estate and is targeted at Africans in Diaspora.

What Afriscaper does is to provide a transparent and simple way to invest in institutional quality real estate in Africa by leveraging on our 32-step stringent pre-vetting steps. Companies that pass this pre-vetting stage are then handed over to PWC, the global audit & consulting firm for due diligence.

Only then are real estate projects listed on the Afriscaper platform and you simply choose the projects that interest you and invest in them. Afriscaper offers you a low entry investment point as investments usually start at $1,000 to $5,000.

Here’s What You Should Do Immediately

  1. Go to the Afriscaper platform and sign-up for free
  2. View the various real estate offerings
  3. Invest in real estate projects that meet your investment criteria
  4. Read the emails from Afriscaper & make sure to sign up for the free webinars so you can ask questions.

You can post a comment here or shoot me an email [email protected]. I read every single response (yes, really).

About Me

My name is Adebola Omololu. It’s a mouthful for some, so many call me ‘Debz’. I am a serial entrepreneur, angel investor & venture capitalist. I am a co-founder in Afriscaper, a real estate technology platform (RealTech) developed to simplify real estate investing in emerging markets by connecting real estate developers with international real estate investors through cutting-edge technology.

*Photo credits: Obi Nwokedi