• Wizodia: immovable property made in Africa

Wizodia: immovable property made in Africa

Africa is experiencing a “brain gain”. Although very difficult to measure, the phenomenon of ‘the repats movement’ is observed throughout the continent. Often this is accompanied by the acquisition of an immovable property.

Rudy Casbi

The economic growth of the African continent does not leave the diasporas indifferent. Even if they provide already an important contribution for the development of their countries. According to the Senegalese Ministry of Interior, the Galsen diasporas (Senegal in Wolof) weighs for nearly 1.38 billion euros per year in the state budget. However today, they wish to involve differently in the development of their countries of origin. Their want to return to Teranga.

This phenomenon is observed all over the world where Senegalese people are located. « In the United States, we have 8,000 members registered in the Association of the Senegalese in America,” says Papa Ibrahima Sow –  “In recent years, we contributed to facilitate the implementation of the Senegal Housing Bank.  Today, five of its North American agencies are based in New York,”he explains.  Thus, a partnership was also signed between the Association of the Senegalese in America and the Senegal Housing Bank to facilitate their return to their own countries. «Thank to this partnership, we offer our community the opportunity to acquire an attached building land at a reduced coast », tells Papa Ibrahima Sow. 

Immovable property : priority number 1

If the diasporas are ready to shift to a return in their own countries of origin,  some others can be still reluctant. «As indicated on our website, we invite people to dispel their prejudices about  an acquisition of a property in Africa. On the spot, there is relative stability with the regulations “, explains Yao Attignon, co-founder of the Wizodia platform. Created in 2017, this startup based in Paris targets only diasporas.Actually, Côte d’Ivoire is attracting investments . «Recently, we have witnessed a constant increase in demand particularly for the region of Bingerville. A new town is currently being built there,”explains Yao Attignon.

This new city located in the south-east of Abidjan, is extending. «Several bridges and roads now allow access to the city centre of Abidjan from Bingerville”, explains Yao Attignon. Apart from the affective attachment that diasporas feel for their country of origin, the prices per square metre of land are also very attractive: according to Wizodia, the acquisition of a 600 square metre property  on the coast currently costs between  30 000 euros and 35,000  euros the equivalent of 45 euros per square metre.

Rudy Casbi
Credit photo : Yao Attignon, co-founder of Wizodia

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