Startup News

HouseAfrica Pioneers Africa’s first Blockchain-based land and Property Registry

HouseAfrica - cfamedia

HouseAfrica (a Nigerian startup) has developed Africa’s first blockchain-based land and property registry that reduces the time it takes banks, lawyers and other stakeholders to query and register land titles.

HouseAfrica is a Blockchain-based Platform founded by Ndifreke Ikokpu (Co-Founder, NG), and Uba Nnamdi Chukwuebuka (Co-Founder, NG) in May 2018 to provides an immutable ledger alongside a visual map reference, ensuring the integrity of land titles and increasing access to credit.

The startups also ensure problems that rotate around land ownership which do lead to duplicate land titles and illegal sales, as well as low access to mortgages, is nullified.

HouseAfrica divides properties into shares (in square meters, SQM), recorded as digital units on Blockchain.

Empowering you to own property shares for a very low fee.

Last year, the startup took part in “Startupbootcamp AfriTech” accelerator in Cape Town and emerged as one of the winners at AfricArena.

HouseAfrica has partnered the Nigerian Mortgage Refinancing Company to give it the opportunity to exclusively service 100,000 land titles across six states, will soon set to expand across the whole of Nigeria.

According to Co-founder Uba Nnamdi who expatiate HouseAfrica big ambitions “Our solution is very scalable because most African, Asian and Latin American countries have the same issues but first we are looking at expanding to other African countries, like Ghana, Kanya, Rwanda, South Africa, Tanzania, and Angola.”

Accessing HouseAfrica is very easy as it is designed in such a way that it is user-friendly via a slick web app.

HouseAfrica’s business model is based on fees for land title validations and commission on mortgage payments.

The startup has been bootstrapped (self-funded) until now.

To further deepen its penetration in Nigeria and across Africa, the startup is looking to raise a US$350,000 angel round by the end of January to grow its team and continue onboarding properties.

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