We often do not come here to commend the government people. But truth be told, the current team in Nigeria’s Securities and Exchange Commission (SEC) has been amazing. I want to publicly commend them for their practical approach to regulation. In the past, it used to be a nightmare. But recently, they have improved with productive channels which simplify things.
My special commendation to the Registration Exchanges, Market Infrastructure & Innovation Department. Because of the confidence I have received from your messages with Ugo Peters, our entrepreneur working to digitize real estate REIT, we invested in his business to fractionalize real estate investment in Nigeria.
Our vision is to give people the opportunity to benefit from investing in income-producing real estate, allowing them to own or finance properties the same way they invest in other industries, through the purchase of stock, within our exchange: “REITs provide a way for individual investors to earn a share of the income produced through commercial real estate ownership – without actually having to go out and buy commercial real estate.” With that, even someone with N500 can “invest” in the most expensive real estate project in Nigeria.
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We are bringing blockchain technology in it and the SEC has been super supportive on this mission. On the strength of its quality regulation, Tekedia Capital has provided the first institutional fund. We do believe we can unlock housing opportunities in Nigeria. The startup will launch later in the year; it has already signed up an enormous amount of properties which will go live once the final SEC approval comes.
As a Nigerian in the diaspora, we understand what we need to push funds into the nation. This exchange will help many invest in real estate with higher confidence, superb transparency and velocity on alpha.
Tekedia Capital invests in all sectors, focusing on how technologies will improve the domains. For example, we are in the oil & gas downstream sector through TradeGrid, building construction via CinderBuild, moving into real estate with this investment. Simply, if we see how tech can work in a sector, we come in because we’re sector-agnostic. Our close to 60 startups demonstrate that philosophy.
Comment on LinkedIn Feed
Comment 1: There are handfuls of tech based products coming up in the real estate space, because with all the choas and scam there, it makes enormous sense to bring tech at scale.
With the right legislation, all the velocity we would like to witness in the property market can happen faster than we expect. Keep them coming…
My Response: We think technology will sanitize that sector. It is harder to “negotiate” with tech than humans when the demons posses. We did that in the downstream oil and gas via TradeGrid and those issues have been fixed for our customers. We’re doing same in building construction sector via Cinderbuild. In all these firms, we see that tech helps. Real estate is the big one and I am confident we will get it right. UGO PETERS is working with experienced compliance team and I have personally joined some of their SEC meetings. The goal is clear: transparency and visibility will grow this sector.
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There are handfuls of tech based products coming up in the real estate space, because with all the choas and scam there, it makes enormous sense to bring tech at scale.
With the right legislation, all the velocity we would like to witness in the property market can happen faster than we expect.
Keep them coming…