Rising borrowing costs and global economic uncertainty weigh on the African real estate sector. Amid these challenges, estate agency Nawali bet on participatory payment mechanisms such as the tontine.
It focuses on reliable and participatory solutions for Africans in the diaspora and others to acquire real estate on the continent including eco-friendly construction projects.
Nigeria, Africa’s largest economy, continues to grapple with a persistent economic crisis. Inflation is nearing 21% while the presidential election is fast approaching. As a result, more and more people are struggling to support themselves.
Experts suggest the country’s next administration tackle foreign exchange market reforms as a priority.
After March and October 2022, the Egyptian pound was devalued once again this January. This devaluation is leading to restrictions on imports as the country tries to break free from its reliance on the US dollar. In less than ten months, the currency fell by nearly 70% against the greenback.
Source: Africa News