African Startup HouseAfrica Allies With Nigeria Mortgage Refinance Company

Nigeria based real estate blockchain startup, HouseAfrica has partnered with Nigeria Mortgage Refinance Company (NMRC). According to DisruptAfrica, the partnership will help implement Provat.com which is a digital property verification and valuation system.

Founded in 2019 by Ndifrke Ikokpu, the startup is a decentralized real estate and rental ecosystem, which uses blockchain technology to enhance the rental process and open the African property market to international and local investors.

This system allows individuals and organizations to authenticate, vindicate, and confirm the value of any property across Nigeria. With this partnership, trapped assets of Nigeria in the residential estate which is valued at between US$300 Billion and US$900 Billion can be unlocked.

Nigeria is considering blockchain technology in the real estate market as a torchbearer, as land acquisition is quite complex in the country. The process is complex because there are many people involved at various stages. The blockchain technology will not only help in registries but will also property management process.

The startup won the “Best African Blockchain Startup at the 2019” at the AfricArena Conference – Fantom Blockchain Challenge. The startup was also part of AfriTech accelerator 2019 cohort.

#Africa #Technology #Nigeria #HouseAfrica
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