Huis Africa : The Back Story
The real estate industry in Ghana has been over time characterized by a number of problems; cumbersome title documentation, high interest rates, perceived money laundering that have financed building, an increased information gap. The big, hairy and audacious goal of Huis Africa is to give every player easy access to the right real estate information at a minimal cost. This takes away the current power of the few key players taking advantage of the system to rig in outrageous profits. It will mean that all players will finally have a fair market to transact real estate business.
As an innovative real estate business, Huis Africa was formed to give users leverage in the real estate industry. They do this by coupling the right information and data with an engaging user experience, to help users and players within the industry to gain the best value out of real estate transactions.
The founders; Paul, Michael and Anne are all members of the Ghana Institution of Surveyors and together, have over a decade’s worth of experience within the real estate industry. Each has engaged in transactions in both the public and private sectors of the real estate market, and have become very well versed in the Accra, Tema, Kumasi and parts of the Eastern Region markets. Amongst the many properties they have managed are properties owned by TDC Development Company Limited, The British High Commission as well as individually owned private properties.
Huis Africa wants to revolutionize the real estate industry through standardised practices. Essentially moving away from unhealthy industry practices within the industry. They also want to provide other services such as valuation reports made to international standards. Thus, they provide a thorough analysis of a property/ product and a detailed and data-rich report that often exceed customer expectations and prove to be very beneficial. The idea is that data gathered from the day to day activities within the market can be used by industry professionals for decision-making. For example, a real estate expert may need information on the kind of buildings often purchased in Spintex. Any information collected and recorded by Huis Africa about sales in that area that is beneficial to the expert, would be readily available at a fee.
As is common in the entrepreneurial life cycle, there are many challenges in starting a business. However, maintaining the ascent in the early stages is more difficult with problems like the case of the single client dependence; where the business is dependent on the patronage of one client, money management and finding a balance between quality and growth. Huis Africa, taking advantage of the Workshed innovation consulting line, has found a reasonable and economically viable route to overcome these challenges. Through our new venture design offering, Workshed has worked to get the business from ideation stage to launch. At Workshed, we’ve found that stringent business plans for a new business hardly ever go as planned once the business actually starts. Instead of putting together a ‘perfect’ document of how every aspect of the business should work, we design a framework that can be continually tested to understand if and how the business would work. We believe this is the key to creating innovative new ventures.