Rising cost of real estate due to inflation in Nigeria

In Nigeria, inflation is driving up construction and rental costs at an unprecedented rate — with building expenses increasing by 300% and rental prices soaring by over 200%. Architects, developers and prospective homeowners face daily uncertainty, while low- and middle-income families struggle to secure housing. Through the voices of developers, tenants and market experts, this report explores how skyrocketing costs are impacting housing access and what this means for the future of Nigeria’s real estate. Watch the full video for a closer look at the human and economic consequences of an unregulated market under inflationary strain. Journalist: ANNABELLE AYANGBADE

Publications

Economy 10 February 2023

Learning Chinese, a solution to unemployment in Africa

China is Benin's third largest trading partner, with trade valued at more than US$60 billion a year, and Africa's first. According to a report released in Beijing in 2021 by China-Africa Business Council, Chinese private companies account for about 70% of investment in Africa. China carries out more than a third of infrastructure projects on the continent. In 2009, the Confucius Institute was created and set up on the Abomey-Calavi campus, offering training for a degree in Chinese translation and interpretation. Students from this school are the most sought-after in the African job market. Some also work as tourist guides.

Economy 3 February 2023

Interview Natty Ngoy founder of the accessories and leather goods brand INADEN

Natty Ngoy is a French entrepreneur from the African diaspora who works with master artisans in leather workshops in Ethiopia to create leather goods and accessories. She created her company in 2013, intending to promote African work, creation and products. 97% of the raw materials used are from the continent. INADEN is pronounced [inadene] and means Artisans in the Tamasheq dialect, a language of Berber origin.

Economy 26 January 2023

Transforming bauxite in Guinea, an impossible mission

Guinea holds one-third of the world's bauxite reserves, a mineral used for aluminium production. The government plans to create refineries and, in the long term, to become a world leader in the alumina sector.

Economy 13 January 2023

Cameroon : Cassava flour as an alternative to wheat flour

Since the beginning of the Russian-Ukrainian war, wheat flour has become too expensive and scarce in several African countries. In Cameroon, young entrepreneurs have started to produce cassava flour. In Douala, you can find pastry and couscous made from this flour.

Economy 4 November 2022

Tears over the construction of the Abidjan underground

In Côte d'Ivoire, economic progress imposes heavy social and human sacrifices on the population. The construction site of the urban underground of Abidjan confronts the local residents with the demolition of their houses. Residents near the 43rd Infantry Battalion of the French Navy camp in the seaside town of Port-Bouët have been ordered to leave their homes without notice. More than 150 families out of the 13,000 affected by the project are concerned. Finding a home, educating their children... This hasty change of life now threatens their future.

Economy 2 November 2022

GIMAC card shakes up the digital banking market in Central Africa

Valentin Mbozo'o, Director General of the Groupement Interbancaire Monétique de l'Afrique Centrale (GIMAC), wants to bring digital into all African homes with simple and secure systems for money transfers and payment cards. In 2015, he launched the GIMAC interbank card with the Central Bank of Central African States (BEAC). This democratised the use of the bank card within the six member countries of this entity and has facilitated mobile transfers and transactions for its users. Today, in the Economic and Monetary Community of Central Africa (CEMAC), the GIMAC card is second only to the VISA card.

Economy 21 October 2022

Gabon, Julie’s Gabonese Chocolates success story

The chocolate confectionery industry represents a global market of almost 115 billion euros per year worldwide. For a long time, African cocoa-producing countries were satisfied with exporting beans and importing chocolate, thus hindering the development of local production. Julie Nyangui, a Gabonese entrepreneur, is fighting to achieve the best possible quality in making chocolate from local resources. Her goal is to produce 100% African chocolate.

Economy 8 September 2022

In Guinea, farmers complain about the lack of fertiliser

Guinean agriculture has been weakened by the Russian-Ukrainian conflict, which has made fertiliser a rare commodity. The price of fertiliser is rising considerably, compromising the supply of farmers. The situation threatens an economic sector vital for the employment of 80% of the population.

Economy 1 July 2022

Islamic finance supports weakened Nigerian SMEs

Nigeria has 40 million SMEs that employ 80% of the population and contribute to 50% of the country's growth. The Islamic Corporation for the Development of the Private Sector is the private sector subsidiary of the Islamic Development Bank, which implements a partnership strategy with local banks to enable SMEs to find suitable financing.