Dollars and Deals: The Lucrative Appeal of Investing in African Real Estate

April 16, 2025

The article explores a growing trend among the African Diaspora, particularly Nigerian-Americans and other individuals with African heritage, who are increasingly investing in real estate across Africa while maintaining lives in Western countries. Lanre Famodu exemplifies this movement as a 45-year-old civil engineer who owns four properties in Nigeria despite living in Maryland. Beyond those with direct family ties, the "Blaxit" movement has sparked interest among African Americans seeking connection with ancestral roots, with Ghana's "Year of Return" in 2019 attracting 1.

Who is affected

Individuals in the African Diaspora, particularly Nigerian-Americans
African Americans participating in the "Blaxit" movement
Investors buying property in African countries (Ghana, Nigeria, South Africa, Senegal, Tanzania, Liberia)
Local communities in African countries receiving investment and employment
Companies facilitating African real estate investments like Seso Global
Potential victims of property fraud when investing in Africa

What action is being taken

Diaspora Africans are actively purchasing properties in their ancestral homelands while maintaining lives in Western countries
Companies like Seso Global are using blockchain technology to verify property titles and create secure land registries
Seso Global is offering mortgage solutions allowing diaspora investors to leverage their U.S. or U.K. credit scores for African property purchases
Real estate agents like Mr. Eze Okwodu are helping African immigrants understand the American housing system
Seeds Accommodations Ltd. is employing locals in Nigeria and implementing U.S. workforce practices such as fair wages and work-life balance

Why it matters

Remittances to Nigeria totaled $23.8 billion in 2021, nearly 10 times the country's foreign direct investment
African real estate investments offer returns of 15-20%, significantly higher than comparable investments in America
Ghana's "Year of Return" in 2019 generated nearly $1.9 billion in revenue
Short-term rental demand is growing rapidly, with Airbnb bookings in Ghana, Nigeria, and Liberia increasing by 30%, 17%, and 19% respectively between 2022-2023
The investments create jobs for locals and contribute to community development
Real estate investment allows diaspora Africans to maintain connections with their heritage and ancestral homeland

What's next

No explicit next steps stated in the article

Read full article from source: The Washington Informer