Executive Summary: African Realities present Opportunities

Dr. Tisa Farrell Muhammad

November 2018

“Africa is the only place in the world where black people can go and build several companies within 5 years. Come back to Africa…Invest in Africa”
~Akon

The headline reads, “The nations of West Africa, including Senegal, Guinea, Ivory Coast and Ghana have recently seen a significant increase in growth.”

Dakar: A scenic view of Dakar, Senegal on any given day.

Al Jazeera’s Nicolas Haque continued,“West Africans…are seven times more likely to move within West African countries than to go to Europe or North America. For the past 40 years, 15 countries in West Africa agreed to allow free movement of people and goods within its borders. Migrants from the region sent thirty-three billion dollars to their loved ones last year,” he added.

Additionally, a substantial number of Africans abroad have started to migrate back home, in a sweeping trend which seems similar to a “Back to Africa” styled movement, presenting a new school of thought of a Diaspora “who have returned with the skill set, talent and experiences acquired abroad to exploit opportunities available back home while contributing to the growth and development of their motherland”, according to Face2Face Africa Contributor Dziffa Akua.

In wake of this reverse-migration, a recent United Nations Report, The World Population Prospects 2017, revealed that Africa will account for nearly half of global population growth over the next two decades at 30%, of which West African nations will contribute 300 million peopleor 15% of Africa’s expected 570 million population surge, by 2050.

Despite these promising prospects, a report from the USAID stated that West Africa’s “economic growth rates have been insufficient in most countries to make significant reductions in poverty. West Africa’s farmers and firms produce and trade in highly localized markets and do not achieve the sufficient economies of scale required to attract broad-based investment that could accelerate growth and reduce poverty”. 

Senegal Statistics: Senegal presents a whole world of opportunities for those who seek business abroad.

Its’ solutions to this among many were to,“demonstrate West Africa’s productive potential in order to trigger greater regional investment.” These varying complexities of growth and change, though boasting of advancing populations in West Africa, promise even less economic advancement, employment opportunities or adequate housing, despite Africa being a major benefactor of the World’s Natural resources (30%), of which she is yet to benefit.

However, beyond these common African realities, a broader perspective of these challenges, coupled with a heart of intention dedicated to developing Africa, presents fortuity for the Developer, the Investor and the people- beyond measure, and there lies the opportunity.

With a steady 2.6% per year growth rate, Senegal’s demand for a new modernized city has been long overdue since its emancipation in 1960. The 2035 prospective development of “Diamniadio Lake City”on the outskirts of Greater Dakar, promises to satisfy some of her needs with the birth of a futuristic, “green” city, designed to provide exceptional infrastructure and amenities to support her rapidly growing population and the new migratory trends of Western Africa.

The Urban Housing Crisis Problem: Various issues of rapid urbanization, flooding and poor drainage systems lead to a major housing deficit.

The “Affordable Roof Project: Diamniadio, Senegal” is one such happenstance of 5,913 Social homes, provided for families who would otherwise disqualify, based on their lower income.Our clients have been qualified and their funding approved through a local financial institution.

Despite this, we still have a waiting list, and, there are still over 1 Million renters living in Dakar. Through future phases of development, The Affordable Roof Project 2019 will eventually provide ten thousand (10,000) Social Homes, representing a mere 2.8% of the 350,000 homes required for Senegal.

In a market where over 60% of the population (9,024,600) make less than $3.10 USD/day, this project will give people access to free land ownershiplower housing costs and a beautiful, efficient affordable home they own and a community they can be proud of. This city will have access to exceptional infrastructure and sewage systems designed to reduce flood risk-solving the common challenges of damage faced by homes built in surrounding regions.

The Affordable Roof Challenge: With 60% of the population making less than $3.10 USD/day, the ability to afford a home, becomes an everyday challenge.

With very limited competitors in this market, there are only ten other builders who provide Social Housing to their clients, however, none of them are currently able to offer their clients similar homes at the same competitive prices as we can because this land was granted to us for this purpose. Additionally, we do not have to pay any taxes on imported items used to build these homes. This remarkable leverage over our competition makes it easy for us to offer these benefits to our clients, which in turn makes us unique.

We surmise that based on the current issues at hand, this project can be utilized as a solution to the housing problem and over-crowding that currently plagues Dakar. We invite you to join us in helping to build an illustrious future for the people of Senegal!

Africa’s ‘lion economies’ growth exceeds forecasts, Nicolas Haque, Al Jazeera Media Network, http://www.aljazeera.comTop Reasons Why African Diaspora is Returning to Africa in 2016, Mark Babatunde, Face2Face Africa, http://www.face2faceafrica.com;

World Population Prospects: The 2017 Revision, Key Findings and Advance Tables, United Nations Department of Economic and Social Affairs/Population Division; West Africa Regional: Economic Growth and Trade Report,USAID, https://www.usaid.gov/west-africa-regiona/economic-growth-and-trade;

Advertisements