For adhering to the [August 2019] - Best Nigerian Forex Broker international business standards in the real estate sector, Refin Homes Limited has been awarded the Standard Organisation of Nigeria (SON), ISO 9001:2015 certification. Speaking in Lagos at the weekend, its Managing Director, Olatunde Macaulay, said this would further strengthen the company to be particular about meeting the needs of customers through effective quality management system.tinyurl.com He said the certification entails eight primary business principles of customer focus, leadership, involvement of people, process approach and system approach to management, continual improvement, factual approach to decision making and mutually beneficial supplier relationship. The company’s decision to work toward accreditation demonstrates a commitment to continually improve our products and services. We underwent an extensive company-wide audit that included quality management, system development, and documentation review, pre-audit, initial assessment and clearance of non-conformances. This reinforces our relentless focus on creating industry-leading products and services measured in line with global benchmarks of industry excellence. We plan to set up an academy to train artisans for the housing sector to bridge the skill deficit,“ he said. He said the company targets an additional 250 unit of housing to the nation’s stock per year, calling on the government to improve business climate within the real estate corridor, for Nigerians to own their homes.
Hitherto, years before now, the industry was not that rewarding. All that has changed. The agency fees and commission system of real estate product and service have increased and that area has opened up. Let us look at the commission earning system, you have first, second and third generation of earnings. In the past, there was no structure like that in the real estate industry. Secondly, there is so much awareness about the real estate business now, unlike in the past. A lot of people didn’t really know about the benefits of investing in real estate but now, people know that the safest area to invest your money is in real estate. That area has been opened up as well.
I have worked in some places for years, before starting my company. I planned and saved towards it. Basically, in real estate, the business grows as your networks increases. Traffic is the major challenge, amongst others. Lagos is a highly traffic congested area and it affects our business in many ways. One of the challenges we face in the Ibeju Lekki axis of Lagos State is traffic and one of the ways the government can tackle it is to expand the roads and build more over head bridges. Having alternative road networks is a good idea for solving the problem. I will say we are not there yet, but there is tremendous improvement as compared to the business in the past, like 20 or 30 years ago.
Today, there are structural designs and a lot of investment opportunities have been opened up in real estate. The list is endless. There are now professionals handling various aspects of real estate. In the past, people were not serious about real estate. It was just in the hands of the selected few. People didn’t think deeply about the sector but all that is changed, at least, within the last 15 years. Some of us are doing well in that sector. You will agree with me that when professionals come into an industry, they take it to the next level. Yes, once you have invested in a professional like Pazino Estate, you don’t need to worry because we have everything planned. You go to sleep knowing that your investment is secured.
Unless when you invest in a shady scheme of the “omonile” where you don’t get to see your investment after a while. For us at Pazino, we are trained professionals in the business and our core value is to deliver the required services in real estate. Well, we have lands that can go for as low as N800,000 and you can spread the payments between six to 12 months or more as the case maybe. It will interest you to know that most people now know that investment in land is the [August 2019] - Best Nigerian Forex Broker way to secure your future and many are going that way now. Our estate schemes accommodate but low income earners, middle class and the higher income earners.
Competition is in every business. For us in the real estate , a healthy competition keeps you on your toes. It also helps to make rooms for growth and expansion. We are an emerging sector. The business world is at its advanced stage and gradually, Nigerian businesses are catching up, through networking, seminars and workshops. Well, Pazino is well spread, aside from our presence in Ibeju Lekki. We have presence in Epe, Ikorodu and also looking at the Mowe axis of Lagos. The Pazino train will soon be moving to the eastern part of the country. We will soon be in Owerri, Imo state, from there to Port Harcourt, River State, and also to Abuja. We have offices in Warri, Benin, Port- Harcourt, Abuja. We have about four offices in Lagos State where the company is primarily domiciled. We have another office in South Africa, just to mention a few.
We enjoin other well meaning Nigerians to join us as we put smiles on people’s faces. In the areas of population explosion, welI, I have a dual plan for the government. The traffic congestion from Lekki Phase One down to Ajah has been there for years. I will expect the government to look into it critically to alleviate the sufferings of the people by coming out with more alternative plans, because the government is the major regulator of the real estate. They need to come up with plans to expand the road networks and build more over head bridges in this axis.
They should as well partner with private organisations and private individuals to carve out a more robust contempary city plan. This will allow people start busineses in their homes and by so doing, they will stay off the roads and that will make it less congested. This year, we will be very pragmatic. We have been acquiring landed properties over the years but this year 2019, we are starting some of our building structurws. On or before December, some of our projects will be standing. I am proud to announce to you that we have started constructing works in our Hills Garden in Epe and it will soon be spread to other estate schemes.
This year, we are going to expand structurally. You are going to be seeing our duplexes, terrace apartments and others in our estate schemes. We are very much affordable. Some years back, we had an estate scheme for as low as N600,000. Currently, we are running a promo going for as low as N800,000 and you can pay from 6 to 12 months, as the case maybe. We have high net property and the low ones as well, everybody is covered in our property [August 2019] - Best Nigerian Forex Broker the low, middle and high income earners [August 2019] - Best Nigerian Forex Broker all have lands they can buy. There are so many ways the government can encourage SMEs.
One is by providing a conducive environment for the business to thrive. Policies that will favour the businesses, through trainings, seminars and workshops is also very key. Funding is also very important. My advice for a investors is for them to invest through Pazino well structured estate schemes, as a gateway to real estate, especially in the Ibeju Lekki axis of Lagos State. Ibeju Lekki is where the Free Trade Zone project is ongoing. The Dangote refinery, the fertilizers plant, the deep seaport project, the cargo airport, just to mention a few. With the ongoing projects, what that portend for an investor, in one word, is a cashcow because of the developmental strides that are going on in this area.
It simply means that when you invest in this area, your return on investment (RoI) will be higher and faster. In the last eight years, Ibeju Lekki has been tested and proven as number one, in terms of long and short term investments. When you invest in real estate through Pazino, your investment will count. Pazino has been tested and proven, over the years. Some of the people who invested through the Pazino platforms in the last three or four years are smiling now because of higher returns on their investments. Our clients are more like our partners in progress. We came into the business because there was a public yearning for things to be professionally done. We are to do real estate businesses as professionals.
I would like to stress, before this vile column begins, that it is not my fault. If it were up to me, we'd be using this space to have a rational debate on the pros and cons of having a giant KFC bucket appear in your yard. But no; apparently the world wants to talk about pee. And obviously, the idea of urine powering a cellphone is inherently funny because I would have no idea where to pee in my phone, unless there's an app for that. I'd also have a hard time doing it, for philosophical and physical reasons.
It was a great premise for a column, but I still thought it might be hard to get 750 words out of it. People usually don't want to read that much about urine, or so I thought. In any event, I didn't use the pee-phone idea for a column that week. I could tell by her tone that she was a little hurt. The pee-phone story was important to her. She'd been excited about being the one to find it, and she sent it to me because she's always looking out for me. It bothered her that I'd dismissed her show of affection, like a cat who pees on a pillow when you're not sufficiently thankful for the dead mouse it left on your bed.
I needed to make amends, but I still didn't know how to make pee-phones a full column. I found myself on the horns of a dilemma. I was all set to delve into the giant-KFC-bucket mystery for this week's column, but then, out of the blue, the night before my deadline, along comes a story about how Chinese scientists are using urine to regrow teeth. Wow. If that's not a sign from above, I don't know what is. That's the world just opening up her heart and showering me with her love, giving me a way to make things better with my love, all through the transformative power of pee. Buoyed by the pee-teeth story, I did some research on other uses for urine and learned that three schoolgirls in Nigeria invented a backup generator that ran on pee.
I learned that if you harvest the urine of menopausal women, you can extract an important medication for infertility. I learned that if you pee on your compost, it makes it better fertilizer. And I learned that people have been drinking pee for thousands of years. That just shows how stupid I'm really with; I thought the only positive use of urine was for peeing on someone's leg or arm if they get stung by a jellyfish. This was certainly column fodder now, this flood of new info on liquid human waste. This opened itself up to comparisons with George Washington's choppers and thoughts on why Nigerian kids are kicking our kids asses academically.
The pee-teeth story even involved stem cells, which are always a good subject for debate in the hands of a guy who writes columns about pee. This was a no-brainer. This was a column that would just pour right out of me. But then I stopped, and being my morally righteous self, I asked myself if it was right to devote so much editorial real estate to such an icky subject. I pride myself on my impeccable social graces, you know. In the end I reasoned that showing my loving wife how much I appreciate her was worth grossing people out, so I used her pee-phone story as the basis for this week's column. Happy “National Ice Cream Sandwich Day,” honey. Keep those urine-related column ideas flowing. Todd Hartley is No. 1!
Is Real Estate Still Evergreen? Yes, real estate is evergreen from that time that GOD said let the dry land appear or in my own words let real estate appear, real estate has been evergreen-it always increases in value. Let’s think about it for a moment has your landlord ever reduce your rent for a term say because of recession if you are one landlord have you reduce the rent for a given green? I’m known as a real estate guy, which is fine with me. After all, investing in real estate is how Kim and I made the bulk of our money to exit the Rat Race over two decades ago. Everybody knows that one of the smartest ways to make serious money is in real estate, in the long run, the largest asset most people ever have at retirement is the equity in their home.
The average net worth of a landlord is about 30 times of a renter- According to an article several years ago is (Reader’s Digest). Obviously, you’ve got to get into a home and if you’ve already purchased your home, you’ve got to learn how to turn it into a cash machine. Better still get into the habit of buying real estate yearly because real estate is evergreen. There is no investment like real estate for versatility and power. The Best Time To Buy Real Estate “Is Today”-And This Isn’t Going To Change Anytime Soon. Your real estate will continue to be not only your castle, but also your bank, your cash machine, your forced savings account, and most importantly, your vehicle to rapid retirement and the lifestyle of your dreams. Owning your own real estate is the first building dock in your empire. So learn the creativity and flexibility involved in real estate investing to use it to your advantage because real estate is evergreen. Do not seat on a real estate gold mineral extract it now. Before I conclude, you’ve probably heard the three most important things to look for in real estate are location, location, and location you also need to analyse five other things like. All five of these conditions combine to make a great deal. Do you want great deals?
A month ago people spent money on Black Friday buying clothes, electrical appliances and other household items they needed because they were “on sale”. Though people still took advantage of Black Friday, some took to social media to criticise the whole idea of a Black Friday, also questioning why no one ever sold property or land at a discounted price. But this Nigerian estate agent seems to understand that people also need to buy land and at a discount. “Owning a land is a very important investment and one which helps secure your future. The company will give you one free land for every five bought in Lagos, Nigeria, for N300,000 (R12,000) per plot. Invest in your future today Own a property. Buy into our Fanststic Land offer @ Ajebo Lagos nigeria.
Another major driver of this new trend is tourism, especially religious tourism which is growing in multiples in Nigeria with people looking for ‘miracle’ trooping into major cities, especially Lagos, on daily basis. The new trend, therefore, presents investment opportunity for real estate investors and developers. The rental range for short-let apartments is wide and depends on the quality, branding, unit size and location of the offer. Rents can go as low as N25,000.00 for a studio apartment to as high as N140,000 per day for a three-bed apartment. “The commercial outlook for short-let apartments remains attractive in light of positive market fundamentals, expansion possibilities and strong levels of profitability. We believe this market presents unlimited opportunities and is a sector likely to spur increased investor interest,” Gbadebo posited. At global level, the hospitality industry is said to be one of the world’s largest. 11.5 trillion by 2027; 32 per cent of projects under development in Africa are in the Western countries, currently home to just seven per cent of the existing supply. Most of these projects are in Nigeria, primarily in Lagos and Abuja, where projects spend longer in the pipeline phase than in most other African countries.
Without a doubt, the real estate sector has continued to be one of the most important sectors in the Nigerian economy. Figures have shown that the sector contributed immensely to Nigeria’s gross domestic product (GDP). For instance, in 2018, it contributed ? 1.26 trillion to the country’s national income. However, the percentage contribution of real estate to GDP declined to 6.41% in 2018 from 6.85% in 2017. Notwithstanding, the real estate sector is engulfed with big potentials, according to Nairametrics, an agency report. The report said “In developed climes, the mortgage sub-sector plays an important role in stimulating the real estate sector.
But while there have been several mortgage schemes and initiatives in Nigeria , the impact has remained somewhat unfelt. In the meantime, investment analysts have expressed different views on the outlook of the real estate sector. On the other hand, the Chief Executive Officer of Lifepage Group, an investment holding firm, Oladipupo Clement, scored the industry high. According to him, “More landed properties were sold and bought in 2018 than apartments and houses, due to high capital requirement and cost of fund. Despite uncertainties, such as a decline in oil prices, political instability, inflation and the rising cost of funding, the real estate sector will still thrive”. The experts were of the view that investors in the real estate sector are likely to smile to the banks soon, as they get returns on their investments. According to them, “There was excess liquidity in the economy during the election period.
Recall that the President recently expressed concerns over the huge amount of foreign currency flooding the country, intended to influence the general elections. “With the conclusion of the general elections, the movements of both foreign and domestic currencies for electioneering processes will likely spread and drive patronage in the residential and commercial angles of the real estate sector. Eventually, what this does sometimes is to pressure the price of estate properties to increase, which implies higher revenue for investors. “Similarly, 2019 will spark the beginning of new governments in some states across the federation. These states will have either consolidated or new policies, which may drive economic activities uniquely away from past administrations.
Again, contracts and appointments lobbying will also form a block on its own. “All these interplays are likely to redistribute income in some ways, and the real estate sector is likely to benefit in no small measure. How the economy reacts- Growth in the real estate sector in Nigeria will have impact on the economy significantly, from the jobs it creates to revenue generation. “Specifically, the real estate’s multiplier effect in terms of job creation is significant. Also, real estate activity stimulates the economy indirectly through the value-added impacts of the purchase of goods and services that stem from real estate-related businesses and transactions”, they opined.
A new promo by Pennek Nigeria Limited, a leading real estate company in Lagos, has opened a door of opportunities for prospective property owners for premium acquisitions in a new estate situated in the Lekki-Ajah corridor. According to Kennedy Nnadi, Managing Director, Pennek Nigeria Limited, the estate, strategically located at Lekki Scheme 2 and barely 10 minutes drive from Chevron roundabout, is free of the hassles and bottlenecks associated with property acquisition in Lagos. The 72 acres of dry table land is sold in plots of 500sqm at N18,000,000 and with a title of a Governor’s Consent. However, a flexible payment plan allows buyers to start off with a N3 million down payment, and subsequently spread the balance across six months or up to 12 months. He continued: “We live in the same environment and understand the demands on our limited resources.
In most parts of Nigeria today if you don’t have enough cash to pay your rent one or two years in advance, you can’t find a place to live. Let’s think about that — we are paid salaries monthly in arrears, but are asked to pay our rent yearly (sometimes two years) in advance. This means that young people need to stay in their parents homes longer even after starting out in life, because they don’t have access to 24 months salary upfront. It means that there is a huge cashflow strain on young families who have to worry about how they will find lump sums of money to pay rent, in addition to nursery school fees or hospital bills.
Our rental market makes life incredibly tough, in a country that needs no assistance in this regard. And makes it so that there is a very high barrier to accessing one of the most basic of needs — shelter. This is why we started Fibre in mid 2016. We set out to lower this barrier by allowing people to “Live in Lagos and Pay Monthly” for their homes. We partnered with landlords in the city providing them with guaranteed income on their property, and made it possible for working professionals to pay monthly for these homes. So far we’ve found homes for over a hundred people across Lagos and have an occupancy of 99.4%. We also have an ever growing waitlist of about 4,000 people (a number that gives us sleepless nights).
Our team is passionate about making it easier for young people to live in Nigeria. And that’s why we started out by addressing this rent payment problem. But over the last year, we’ve spent a lot of time talking to our customers and asking questions and we are now at the point where we understand that it’s about more than just monthly payments. For example the members in the video above had each been individually searching for their homes for months before approaching Fibre. They went from one real estate agent to the next (with each asking for the token 1,000 Naira for ‘transport’) and from one apartment to another (each one worse than the last) looking for a home.
And despite this gruesome process, they had no luck. Everything they saw was either overpriced or far away from where they wanted to live. And of course they were being asked to come up with up to two years rent upfront. They came to us and within weeks they’d found and moved into their new home in Lekki. Why was there such a difference? We made their search significantly easier. They each reached out weeks before they needed to move in. We ran a quick verification on them, took down their living preferences and when we were sure we had suitable options, they picked the one that they are living in now. We offered them flexibility. They had the option to pay monthly for their home — something they could only get through Fibre.
They also had the option to stay for a flexible period of time i.e. anywhere between 3-12 months — again something that they could only get through Fibre. They were able to share. These three members share a 4 bedroom house in Agungi. Individually, they wouldn’t be able to take up the entire house on their own, nor would they want to. Bankole, Tope and Abiola are not alone. At our core, we exist to eliminate the barriers that make it difficult for young people to find homes and live in major cities in Nigeria. This is what we are focussed on now. We will evolve in the coming years both in our offering and in the markets we operate in but our goal will remain the same — to make living in Nigeria simpler. Because our country is full of young people who are working tirelessly to build the future we all want to see. The least we can do is to make sure they can conveniently find a place to rest their heads at night.
In what is being dubbed a last-ditch attempt by BlackBerry to crawl back market share from its rivals, the Canadian firm has officially launched its Passport phone. After being unveiled at an event in June, chief executive John Chen has been teasing the square phone's features ever since. And at a launch event earlier today, BlackBerry revealed that the 4.5-inch device is now available in the UK, US, France, Germany, and Canada [August 2019] - Best Nigerian Forex Broker and will run Android apps from the Amazon Appstore. At today's launch event, BlackBerry revealed that its 4.5-inch Passport phone (pictured) is now available in the UK, US, France, Germany, and Canada [August 2019] - Best Nigerian Forex Broker and will run Android apps from the Amazon Appstore.
The BlackBerry Passport has a full HD 4.5-inch square screen, which is said to offer a similar viewing space to a 5-inch phone, but ‘an even better viewing experience’ because of the screen’s width. There is also a 13MP rear camera and a 2MP front camera. This software features BlackBerry Blend, which lets users BlackBerry content to other devices including PCs and Android phones, as well as the Amazon Appstore. This means that Android apps from the Amazon store can be installed on the BlackBerry device. In addition to the large, 1440×1440 pixel square screen, the device has a 3450 mAH battery which BlackBerry claims will last up to 30 hours. It has a quad-core 2.2 GHZ Processor, 3GB RAM as well as a 13MP rear camera, and 32GB memory.
This software features BlackBerry Blend, which lets users BlackBerry content to other devices including PCs and Android phones, as well as the Amazon Appstore. This means that Android apps will run on the device, but only those available from the Amazon store, installed on the BlackBerry device. The BlackBerry Passport (pictured centre) has a full HD 4.5-inch square screen and shows 60 characters of text, compared to 40 on a rectangular 5-inch device (Samsung's Galaxy S5 5.1-inch device is pictured right). Apple's iPhone 4S is pictured left to show scale. 749) [August 2019] - Best Nigerian Forex Broker both are also available on two-year contracts. 650), and the South Korean firm is yet to release price details for its Galaxy Note Edge.
After a year away from the UK market, a return to Blighty with a keyboard-based smartphone is a move that plays to BlackBerry's strengths, and shows it has finally understood what people liked about its early phones. The Passport combines a large touchscreen with a physical keyboard. In June, BlackBerry announced it was offering 240,000 Android apps to its smartphone users in a surprise deal with Amazon. The deal lets BlackBerry add a selection of consumer apps to its devices, and to focus on developing enterprise and productivity applications. For example, BlackBerry customers will be able to access popular Android apps such as Groupon, Netflix, Pinterest, Candy Crush Saga and Minecraft. The apps will be available on BlackBerry 10 devices from autumn, when the company rolls out the BlackBerry 10.3 operating system, the statement said.
While Ben Wood, Chief of Research, CCS Insight added: 'This is definitely a marmite product [August 2019] - Best Nigerian Forex Broker based on our experience so far people either love the design or are a little perplexed by the size and shape. One thing is certain [August 2019] - Best Nigerian Forex Broker it’s a distinctive product that will definitely stand out from the monotonous stream of similar looking touchscreen smartphones that currently characterise the market. After 18 months of disruption the strategy that new CEO John Chen has laid out seems to be taking hold. The Passport was first revealed in June by BlackBerry boss John Chen during the company's quarterly earnings report. The project was previously known as Windermere, and Mr Chen said at the time that Passport would be officially announced at an event in London in September.
Academic research has shown that the optimal number of characters on a line in a book is 66 characters. Most rectangular smartphones show approximately 40 characters per line, while the BlackBerry Passport is said to show 60 characters. The Passport (right) was unveiled alongside Blackberry's touchscreen phone the Z3 (left), and the Classic (centre) in a slide, earlier this year. It also solves the problem of having to switch between landscape and portrait mode when taking a photo or filming a video. ‘We’ve been living in a rectangular world for quite some time and know it’s a great ergonomic design that drives content, media consumption and quick communications,’ continued Mr Young.
‘However, the rectangle has become a defacto approach to smartphone design, perhaps limiting innovations.tinyurl.com It is unclear how comfortable the phone will be to hold, when making a call for example, and BlackBerry has not released any details about the price. The blog post did, however, position the device more towards businesses than consumers. For example, it stated architects and mortgage brokers could use it to look at full designs and schematics on the go. Mr Young concluded: ‘The BlackBerry Passport will take you to new places on the [August 2019] - Best Nigerian Forex Broker business trip you’ve ever had. The move is the latest by the smartphone pioneer to streamline its focus as it attempts to reinvent itself under new chief executive John Chen. BlackBerry phones have recently lost ground to Apple's iPhone and Samsung's Galaxy devices. Chen wants to remain a competitor in the smartphone segment, but is focused on making BlackBerry a dominant force in machine-to-machine communications. The company's QNX software already is a mainstay in the automobile industry, powering electronic and other systems in a wide range of cars. BlackBerry already works with hundreds of large enterprise clients including corporations and government agencies to manage and secure mobile devices on their internal networks. Chen intends to build on those ties and BlackBerry's touted security credentials to allow these enterprise clients to build and customize in-house corporate and productivity applications for their employees.
The Lotus Garden is the only open area for about 200,000 people who live in cramped and squalid tenements abutting the city's biggest landfill. The municipal corporation had done little for its upkeep and it was littered with trash. Three years ago, Vaitla and her team were tasked with transforming it into a space that people would actually use. They expected residents to suggest elements like lighting, elaborate landscaping and a gym. The team didn't expect such enthusiasm for a simple lawn. Vaitla, chief executive of Mumbai Environmental Social Network (MESN). Vaitla's team, backed by funding from United Nations Habitat, which promotes sustainable urban development, spent months cleaning up Lotus Garden.
They installed lights and water, planted shrubs and grass, and built an open-air gym. From the very first day, residents including women and children who had earlier avoided the space, swarmed in, Vaitla said. The appetite for areas like the Lotus Garden is not surprising. In Mumbai, with its population of 18 million and counting, soaring real estate prices and relentless construction, public spaces are shrinking. Pontus Westerberg, digital projects officer at UN-Habitat. Encouraged by their success with Lotus Garden, MESN and UN-Habitat collaborated on another space in the nearby Gautam Nagar neighbourhood. This time, they decided to use technology to encourage even more community involvement.
The team settled on Minecraft, a video game that allows players to build their own worlds using virtual Lego-like pieces. For the past five years, UN Habitat has used Minecraft in its Block by Block programme, which aims to encourage some of the poorest communities in the developing world to participate in upgrading their common spaces. The programme is a partnership between UN-Habitat, Mojang, the creator of Minecraft, and Microsoft, which owns Mojang. Westerberg by telephone from Kenya's capital, Nairobi. The traditional approach, using maps and drawings, often draws little interest from residents, he said. The Block by Block programme was launched in Kibera, Nairobi's largest slum.
It has since been used in about 50 locations in more than 20 countries including Indonesia, Nigeria and Mexico. Once UN-Habitat selects a site, a Minecraft model of the site is built using photographs, videos, maps and Google Street View, if it is available. UN-Habitat then holds a workshop. Residents are put into groups of mixed ages and genders, and given a laptop with the Minecraft model. They learn the game in a matter of minutes or hours, Westerberg said, and everyone pitches in on the redesign. The designs are then discussed with local officials, one design is chosen, and the project is handed over to a local architect to execute. When Vaitla brought Minecraft to a workshop in Gautam Nagar, participants used it to create plans including better lighting, seating, trees and play areas for children.
The slum's 6,000 residents live in close quarters, among open drains and common spaces strewn with garbage. They were looking for realistic solutions to improve their lives. Other organisations are also putting digital tools like Google Earth and smartphones to work for disadvantaged residents of India's urban areas. Shelter Associates, a charity that focuses on slum upgrades, is working with residents to create maps of slums that need amenities like sewage lines, or are at risk of eviction because they are on disputed land. This is particularly relevant as the government's Smart Cities plan risks hastening slum evictions. In the western state of Maharashtra, where Mumbai is located, Shelter Associates has mapped about 500 settlements of more than 200,000 homes, said Executive Director Pratima Joshi. As for Lotus Garden, residents continue to take pride in the space they redesigned, said Vaitla. Reporting by Rina Chandran @rinachandran, Editing by Jared Ferrie. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, property rights, climate change and resilience.
NAIROBI, Dec 31 (Reuters) [August 2019] - Best Nigerian Forex Broker Kenya's technology rush gave hope that new ideas would help millions of Africans use their mobile phones to circumvent poor infrastructure but local start-ups are failing to draw major investors or create profits. Lack of talent, problems in attaining seed capital and ideas that cannot be sold to a mass market or easily monetized have so far held back hundreds of Kenyan start ups. Many were drawn to the tech sector by the Kenyan government's push for a “digital future”, plentiful Western donor funding and foreign media coverage about “Africa's Silicon Savannah”. Nikolai Barnwell, a Nairobi-based director of 88mph, a tech seed fund. His fund, which has seeded almost 20 companies in east Africa's biggest economy, is taking a break from investing in Kenyan start-ups to focus on Nigeria where he believes the tech ecosystem is more profit-focused and there is less “fluff”.
At least 70 percent of start-ups in Kenya are “not earning enough to maintain business and living expenses for a small team,” according to a recent “Digital Entrepreneurship” survey by GSMA, a global association of mobile operators. It's survey contacted more than 230 start-ups across Kenya. 100 million. Another is Craft Silicon, a software firm believed to be worth tens of millions. Safaricom in 2007 pioneered its M-Pesa mobile money transfer technology, now used across Africa, Asia and Europe. It proved that money can be made from people who earn a few dollars a day. 300 million) in the last financial year.
But similar ideas to harness that economic power have been elusive. Safaricom's chief executive, Bob Collymore, has urged entrepreneurs to innovate to solve Africa's inherent problems: access to water, healthcare and education. GE Look Ahead interview. With mobile phone use nearing 80 percent, cheap data and soaring smartphone uptake, Kenya provides one of sub-Saharan Africa's most appealing environments for tech entrepreneurs. Kenyan farmers receive updates on the latest crop prices via text messages, while coffee-sipping urbanites can shop and hail taxis through smartphone apps. Yet critics say only a small percentage of Kenya's 44 million people use these services. Forced to play catch up on development issues, engineers hope Africa can jump to the front of the technology revolution. But Barnwell said talent tends to move into real estate or banking, sectors which offer huge rewards with less risk, particularly since many African investors have little understanding of technology.
Dorothy Gordon director general of the Kofi Annan centre of technology excellence in Accra, Ghana. Jeremy Gordon, founder of Nairobi-based Echo Mobile, said recruiting is tough and tech start-ups spend a large amount of capital on engineering talent. Mark Kaigwa, founder of Nairobi-based tech consultancy Nendo, said Kenyan techies broadly focus on the business-to-consumer market that grabs headlines even though most of the profitable start-ups service the business-to-business segment. Shortage of investment, a perennial African problem, is another impediment. Early seed capital provided by the likes of 88mph and a handful of other funds is scarce. And with interest rates on Kenyan loans often topping 20 percent, bank debt is expensive. 1 million for his cloud-based mass messaging platform that is used in eight countries, including Sierra Leone, where IBM is conducting Ebola-related community research through it. Rather than pitching to Kenya's business elite, Echo Mobile is currently holding talks with U.S. But there is hope.
The Reﬁned Investor Series UK is a premier event focusing on unique real estate opportunities in Nigeria that are safe, secure and highly sustainable. The event also targets aﬄuent and high net worth individuals and astute investors in the Diaspora. The series aims to celebrate the [August 2019] - Best Nigerian Forex Broker of Nigerian real estate. During the forum, Eko Atlantic City will be exhibiting to showcase the expertise that have been put into building of the global city of world class design which has been predicted to be the next financial capital of Africa. Also, the documentary video that depicts milestone of the city as a blend of infrastructure, engineering and technology will be shown to the audience.
Speaking on the partnership, Mr. Ronald Chagoury Jr, Vice Chairman of South Energyx Nigeria Limited said, “Eko Atlantic City is excited to be part of the Refined Investor Series in the United Kingdom. The road show will grant investors in the diaspora the opportunity to invest directly into Eko Atlantic City. Eko Atlantic’s smart planning showcases the best in urban design and is divided into 10 distinct ( for phase 1 & 2 only) connected with modern and efficient transport systems integrated with the Lagos waterways. The Business District is home to the future financial hub of Africa, and covers 700,000 square meters of prime real estate.
The city will fulfil the residential needs of Lagos state, while also catering to her commercial needs. Other highlights of development in the city at the moment include, the completion of 14 bridges, the Great Wall of Lagos which has reduced the ocean surge into Victoria Island and environs, and the completed Eko Pearl Towers, amongst others. The City has a state-of-the-art 24/7 infrastructure network, including 21st century communications system, quality road network and uninterrupted electricity supply, making it a compelling place to live and work. Upon completion of the city, Eko Atlantic will accommodate about 300,000 people as residents while 200,000 individuals are expected to commute to the city on a daily basis either for work or business transaction.
“Happy Birthday to Asiwaju Bola Ahmed Tinubu, National Leader of our great party, the APC; pillar of democracy; and father of modern Lagos State. One: “Nigeria is at a crossroads. Two: “We have begun to tackle the endemic corruption and mismanagement that is crippling our economy and corroding trust in our institutions. Four: “I am optimistic that our actions are providing the breathing room Nigeria needs during this period of fundamental change. I argued at the time that the article was not necessary in the first place in the international press. Nigeria’s challenge is what Nigerians, particularly its leaders, do in Nigeria, not somewhere beyond where people are content to watch us self-destruct as they document the incompetency and hypocrisy of our leadership.
Nonetheless, the next three years of Buhari’s reference are now over. I do not know whether he is sending another article to WSJ, but his birthday tweet about Tinubu, one of Nigeria’s most reviled political figures, proves that nothing has changed. Because you know a people by its values. Buhari’s words are a confirmation that Nigeria is stuck in the quicksand of political godfathers and a pseudo-democracy in which the purpose of pursuing political power is not to serve, but to be served, and to enrich oneself. During the recent elections, Tinubu bragged about his riches, declaring that he was richer than Osun State.
This “pillar of democracy” then unveiled himself also as being better than a bank: an individual needing to move cash around in bullion vans. No, there is no law against moving your riches in bullion vans, but this is a behavior that needs to be defended only in Nigeria, as it would not arise elsewhere. Minister of Information Lai Mohammed appeared before a House of Representatives committee last Thursday. He explained that Nigeria is spending vast amounts of money paying foreign public relations firms and lobbyists to “correct impression” about what is going on in the Buhari administration as it has been denied loans because of misinformation abroad.
It is a simplistic explanation; indeed, previous governments have called the same principle the “Nigeria Image Project,” or “Heart of Africa” or “Rebranding.” It is image-laundering: a government trying to look better abroad than it really is at home. 6.8 billion (N1.34 trillion) from the nation public purse. Despite such vast revenues, the People’s Democratic Party failed to complete single major infrastructure project in 10 years, he said. Buhari and the APC pretend not to understand that persistently and perennially pointing out just how bad the PDP was neither makes APC good or better. Indeed, it makes APC at least as bad, if not worse. APC was elected to do what PDP couldn’t or wouldn’t: provide effective, accountable governance. 6.8bn in another four years, how has the government ensured justice? Where are those 55 and 32 persons—and the others from 1999-2011—and why does the APC government hide and protect them?
The answer, my friend, is that APC has become worse than PDP, having added duplicity to complicity. International anti-corruption bodies have pointed this out throughout the Buhari years. For 2018, Nigeria received a ranking of 144 out of 180 countries in the Transparency International Corruption Perception Index, with a 27/100 score. And in its annual “Country Reports on Human Rights Practices” in 2016, 2017 and 2018, the United States has repeatedly identified “massive, widespread, and pervasive corruption” at every level of Buhari’s government. In other words, the government should stop doing Nigerians a favor by squandering funds to launder our image when all the damage is being done at home. While Buhari is content to broadcast an anti-corruption profile, far too many of the APC’s and the government’s top figures advertise the contrary: that Nigeria under Buhari is the same as the Nigeria Buhari criticizes. Words have never been enough. This is why I previously wrote that Buhari will need a third term. I mean, you do need a long time to explain—for instance—how saving Kano State for Abdullahi Ganduje, a bribe-taker, builds an economic bridge for Nigerians. And oh, did we loot The Gambia for Yahya Jammeh? In 2016, the WSJ didn’t take long. You can feign integrity, but you can’t buy credibility. If we make this one change, we have a chance.
STAKEHOLDERS have continued to express divergent views on the impact of the current economic recession in Nigeria on the nation’s real estate market. Available sales data from housing developers and realtors showed that most of the enquiries they receive come from first-time buyers, who hardly return back after making enquiries. In highbrow areas in Lagos like Ikoyi, Victoria Island and Lekki which used to be hot cake, especially for wealthy Nigerians, most properties there are now up for “let” or “sale” for several months without anyone making enquiries about them. The same scenario applies to Abuja. Most of the houses and estates in high-brow areas like Asokoro, Gwarinpa, Maitama, Wuse II, Utako, Katampe districts are unoccupied as a result of the high cost of renting or leasing. Houses and estates in Gaduwa, Apo, Dei-Dei, Gwarimpa, Lugbe, Kubwa, Gudu, Life Camp, are also in similar situation of no buyers or renters.
But in spite of the glut in the real estate market, property values have stagnated and in most cases have increased tremendously in the low and medium income neighbourhoods in major cities of Lagos, Abuja and Port Harcourt. 75,000 per annum, while a five-bedroom with a single room boys’ quarter in Victoria Garden City (VGC) goes for N70 million. The Financial Derivatives Company Limited (FDC) puts the vacancy rate in the upper class real estate neighbourhoods of Lekki, Victoria Island and Ikoyi at 74 percent at the end of September. It attributed the number of vacant properties to a combination of rising inflation, GDP contraction, falling consumer confidence and increasing unemployment rates which contrived to lower demand for housing.
FDC projects an outlook of further decline in demand for housing until the end of the year, when economic activities are expected to pick up. “Our expectation is that a point of inflexion of the index will be evident in the first quarter of 2017. Typically, high vacancy rates imply increased supply, which should translate to lower rents. However, rents have remained inflated above fair value and continue to be responsible for the high rate of delinquency and abandonment. We expect demand for housing locally to shrink further initially due to lower disposable income and a move from prime areas to more affordable locations.
We also expect, in the short-term, new developments under construction. This will increase the supply of properties,” it stated. Mr. Akin Olawore, former president, Nigerian Institute of Quantity Survey (NIQS), noted that the real estate sector is usually the first hit during economic recession. “This is because people don’t have money to pay their rent, or go into new leases. They just can’t find the money to pay now, so the default rate has gone up,” he said. On the possibilities of property owner being forced to reduce prices, he said the market has to correct itself. “The market is of demand and supply, and purely a business decision.
Under the current situation, the number of houses being built will drop, because if the ones in the market are not going, why invest again? Having vacant houses lying everywhere is not helping the economy. If you look around, you will see many houses for lease. Things are expensive now, and people are not taking up leases. If landlords have their way, they would factor in the inflation rate in their rent, if it expires within this period. But given the situation of things, they also have to reduce the price at which houses are leased or sold; otherwise we will keep off-loading many houses into the market, without buyers. Second Vice President of the Nigerian Institute of Building (NIOB), Mr. Kunle Awobolu, said it is ironical that despite shortage of accommodation and deficit in housing, some comfortable, attractive and functional buildings remain unoccupied.
“It is unfortunate because these are mostly new buildings. One of the reasons is that the rent may be beyond the reach of an average tenant. In Abuja, for instance, we have so many buildings that are unoccupied. One cannot but wonder why the owners wouldn’t reduce the price of the buildings. Mr Bode Adediji, a real estate consultant, recently expressed scepticism on the possibility of the market rebounding soon. According to him, property market thrives on the fortunes and misfortunes of other sectors of the economy. He said until there is an overall turn around in the economy, the real estate market will exhibit features of worst recession experienced in the past decades. His words: “In any economy, a period of mass disengagement of staff is always followed by a prolonged property crisis.
Those laid off will default in rent payments. Meanwhile, the crash in Nigeria’s property market has been described as an opportunity for brave investors with expectation of high returns when the country climbs out of recession. Some private equity funds, mostly from South Africa, are investing in Lagos and Abuja, believing that the spending power of the country’s 180 million people will grow. “We believe Nigeria has massive potential in the retail area. The sector is in its infancy and will only continue to grow from a very low base,” said Jan van Zyl, head of Nigerian property development at South African fund Novare Equity Partners.
Investors can take advantage of their purchasing power as Nigeria is desperate for Tinyurl.com dollars to replace oil revenues which account for almost all the hard currency income it needs to fund food and other imports. “What you are offering as an investor is liquidity. In the country itself, there is no liquidity,” said Jonathan Millard, Lagos-based chief operating officer at Troloppe Property Services. Property consultant Cluttons estimates that Lagos retail yields stand at around 7.5 percent, compared with 8 percent in Johannesburg, 9 percent in Accra and 10 percent in Nairobi but have the potential to rise once the economy improves. But investors say Nigeria’s size, one of the world’s fastest growing populations, means it has better long-term prospects than the rest of Africa.
On 29th July 2019, the Honorable Minister for Finance presented the Mid-Year Fiscal Review of the 2019 Budget Statement and Economic Policy to Parliament. As usual, TUC followed the Budget Review with keen interest because of the implications it has for workers and their families.tinyurl.com The following are our comments on the Budget Review. The key areas covered by this submission include macroeconomic management, employment, revenue and expenditure performance, agriculture, the crisis in the energy sector, public sector pay, housing, and African Continental Free Trade Area. First, we acknowledge the consistent improvement in some key macroeconomic indicators. There have been further improvements in some of the indicators this year.
The clean-up exercise in the banking sector has also been successful. There are indications that the sector is regaining public confidence. The economy of Ghana is expanding at a higher rate. A solid banking sector is required to support even faster growth of the economy. We commend the Governor of Bank of Ghana and his team for the courage to implement these difficult but necessary measures. One area that needs special attention is the management of exchange rate of the Ghana Cedi, in terms of the major international currencies. The cumulative depreciation of the Ghana Cedi by 8.4 percent against the US dollar between June 2018 and Tinyurl June 2019 was too high.
In the last two years we have witnessed a very significant decline in interest rates. The 91-day Treasury bill rate has stabilized around 14.8 percent. Commercial banks are lending to each other at an average rate of 15.2 percent. We are, therefore, wondering why lending rates are still hovering around 28 percent.bit.ly We are told that private sector credit expanded by 16.8 percent at the end of June 2019 but this was achieved at a high cost to the private sector. The statement the Honorable Minister presented to Parliament did not contain any robust analysis of the impact of the positive developments in macroeconomic management on job creation. The economy is growing and wealth is being created so it may be assumed that these positive developments at the macro level would translate into job creation.
The theory that economic growth automatically leads to employment growth has been debunked many years ago. Countries that have translated economic growth into more decent jobs have done so deliberately. That is what we should do in Ghana.tiny.cc Otherwise, it will never happen. We do appreciate the effort being made under the NABCO and all the other initiatives to create jobs. Given the enormity of the employment problem in Ghana, we need a an Akufo-Addo Plan similar to the Marshall Plan in order to make a significant impact on the employment situation in the country. This requires that all development efforts, policies and programmes must focus on job creation.
Our trade policies, investment policies, procurement policies, industrial policies, agricultural policies, financial policies and most importantly, macroeconomic policies must all aim at creating decent jobs. Tax revenue is still stuck far below 20 percent of GDP despite some gains in recent years. In the first half of 2019, expected total revenues fell short by 15.5 percent. A total tax revenue of 12.9 percent of GDP in a country where GDP is growing at the rate of over 6 percent is problematic. Ghana is underperforming in terms of tax revenue collection, compared to Togo, Senegal, Kenya, Burkina Faso and Cabo Verde. Government is now relying disproportionately on personal income taxes, corporate taxes, and petroleum taxes as revenue sources.tinyurl.com But higher income taxes and petroleum taxes are adversely affecting disposal incomes and living standards of workers and their families.