Africa’s Real Estate Boom Is Just Getting Started | How to Invest Safely-MP3

Summary

Episode Summary: "Africa’s Real Estate Boom Is Just Getting Started | How to Invest Safely"

Podcast: Earn Your Leisure
Hosts: Rashad Bilal, Troy Millings
Guest: Real Estate Expert/Investor based in Dakar, Senegal
Date: June 10, 2026
Theme:
This episode explores the dynamic opportunities and challenges in Africa’s rapidly growing real estate market. The conversation centers on investment fundamentals, navigating risks, how African markets differ from each other, and practical insights for both local and diaspora investors. The guest, an experienced real estate developer and entrepreneur, unpacks his journey from hospitality to real estate in Africa, providing actionable advice for safe and successful investing.

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Main Topics & Insights

1. Entering Africa’s Real Estate Market

• Guest’s Backstory: Originally from New York, the guest shares his decision to build a career and wealth in Africa after working in hospitality in the south of France. Faced with a choice between Montreal or Dakar, he chose Senegal for a sense of impact and opportunity ("When you come here, you become a player quickly. So it's a bigger playground, more interesting." — 04:00).
• Market Potential:
  • A $100,000–$120,000 investment can buy a solid one-bedroom apartment in Dakar, with returns as high as 23% per year. Five years ago, the same property could be had for $80,000.
  • Example ROI: Rent can reach $1,500–$2,000/month in central areas (05:15).
• Purchasing Style:
  • Majority of buyers in Africa prefer cash transactions due to distrust in banking systems and tough mortgage approval processes. Mortgage interest rates, if available, are around 7–8% (05:36).
  • "In Africa, they like cash. They don't trust banks that much and they don't want to be in the system." — Real Estate Expert (05:36)

2. How to Invest Safely

• Avoiding Scams & Protecting Investments:
  • Don't go through informal networks ("I know a guy who knows a guy... Forget about this." — 06:53).
  • Always use official channels: certified real estate agents, notary services, and escrow accounts for transactions ("If you have money, you go through the official channels, everything's going to be fine." — 07:19).
  • Seek a "permanent title" (Titre Foncier) — the most secure form of land ownership, protected by law regardless of local politics (09:14).
  • "Never give money hand to hand. Even if I sell you an apartment, don't give it to me, find a notary." — Real Estate Expert (09:32)

3. Demand Dynamics, Market Constraints, and Buyer Behavior

• Geography Matters:
  • Dakar's coastal geography (almost an island) limits expansion and increases property value, especially near the coast (13:46).
  • However, renters prioritize proximity to schools and business districts over sea views, especially local residents. Expats value water views more, but won’t sacrifice work proximity (14:43).
  • City is split between business districts and residential/lifestyle zones; daily cross-commuting is rare (15:11).

4. Opportunities and Risks in Africa’s Real Estate

• Best Bets for Investors:
  • Real estate offers stability and predictability, as operational risks in sectors like agriculture and industry are too high unless you are locally based and hands-on (15:56).
  • Start with $50,000–$200,000 in residential property for rental income; more advanced options include hospitality or financial services if moving to Africa.
  • "If you have the ability to raise US money and bring it to Africa, then you can make a lot of money. But again, you have to find a way to make this money safe." — Real Estate Expert (17:09)
• Focus on Middle Class:
  • Africa’s middle class is growing and demanding better products and services. Many investors overlook this market in favor of luxury segments, which are becoming saturated (19:38).
  • Sustainable investment means meeting the needs of these rising consumers, not just the ultra-rich.

5. Practical Tips for Due Diligence & Execution

• Avoid “Ego Investments”:
  • Large scale, flashy projects often ignore real demand ("I'm the biggest player in town, I want the biggest tower, even though it doesn't respond to a need." — 21:38).
  • Always research local demand, transport links, proximity to schools, safety, and rental yields.
• Execution > Ideas:
  • Successful African projects come down to operational excellence, strong processes, and good people, not just innovation or branding (22:50–23:50).
  • "In Africa... the most important is the quality of your execution. Can you execute? Execution is key." — Real Estate Expert (23:38)

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Notable Quotes & Memorable Moments

• "You all are the bright spot..." — Guest (02:52), complimenting the hosts for creating essential financial and business education content for black Americans.
• "Literacy isn't a country issue... It's a world issue." — Sponsor/Ad Voice (03:03), underscoring the global importance of financial knowledge.
• "You see, there's a lot that still has to be done. But that's opportunity." — Co-host (04:25)
• "When you go work in big cities, you just add some small percentage... When you come here, you become a player quickly." — Real Estate Expert (03:40)
• On property title: "It's registered in the African constitution that it's yours forever. Regardless of the president, regardless of the law." (09:14)
• "Never give money hand to hand... Even if I sell you an apartment, don't give it to me. Find a notary." (09:32)
• "Dakar is like an almost island... everything on this coast is like Miami style." — Real Estate Expert (13:46)
• "For me, I will focus on real estate because of, let's say, the stability and the predictability of it." — Real Estate Expert (15:56)
• On Africa’s youth and future: "The African continent is a very young continent. Anything that has to do with the youth and next generation... is a big topic." (19:38)
• "When you want to invest in Africa, most people... focus on luxury goods... What can we do for the middle class?" (20:58)
• On hospitality and execution: "In hospitality, I learned the execution. If you have a group of 20 person... They want their rooms... You need to deliver. There is an ending time. Execution is the first thing." (30:02)
• "It’s overrated to talk about Africa. You have North Africa, many North Africas... We need to get in that point where we say Dakar, Abidjan, Niamey, Nairobi." (32:04)
• On the growing intra-African travel market: "Now, about 60% of your travelers come from Africa... which is something that is very good for us to have our own autonomous local market." (33:00)
• On collaboration: "The ability for Black African and Black American and Black French to come together... and collaborate at a high scale without unhealthy competition. That's the main asset that we can wish for us." (37:36)

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Key Timestamps

• 04:00–05:31: Guest discusses moving from France to Africa and the capital needed for investment; up-to-date prices and ROI examples.
• 05:36–06:53: Details on why cash is king in Africa and mortgage challenges.
• 06:53–09:32: How to avoid scams and unsafe investments — formal channels, notary, and importance of proper title paperwork.
• 13:46–15:47: Unique constraints and drivers of market value in Dakar; importance of location relative to schools, business.
• 15:56–17:44: Industries with opportunity (and risk); why real estate is best for diaspora investors.
• 18:02–19:27: The role of education, information, and content creation in empowering African entrepreneurs.
• 19:38–21:23: Africa's youth, growing middle class, and shifting consumer demand landscapes for investors.
• 21:38–23:50: Consulting advice: avoid ego-driven projects, focus on basics and operational execution.
• 26:32–29:34: Real talk on salaries, cost of living, and what qualifies as middle class or wealthy in Africa vs US.
• 30:02–32:22: Lessons from hospitality: execution, leadership, and cultural nuance.
• 33:00–34:34: Rise of the African travel and intra-continental tourism market.
• 34:50–36:55: Markets to watch: Benin, Guinea, Morocco—stability and government vision as the "first gift."
• 37:01–37:53: Final words on diaspora reconnecting and the global Black community's opportunity to collaborate.

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Actionable Takeaways for Prospective Investors

• Thoroughly research local laws and always use official agents and notaries.
• Prioritize permanent title property ownership and never transact in cash directly with sellers.
• Focus on mass-market and middle-class opportunities — luxury is saturated.
• If you’re new, invest in real estate for rental; only branch into hospitality or other sectors if you’re local and hands-on.
• Recognize Africa’s diversity; treat each country and even city individually for investment analysis.
• Value operational reliability and execution over grand ideas or ego-driven projects.
• Leverage cross-continental connections and knowledge-sharing.

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This episode is a must-listen for diaspora and international investors, entrepreneurs seeking Africa's booming market, and anyone curious about the continent’s next wave of growth. The guest’s grounded, candid insights illuminate both the promise and the pitfalls of building wealth in African real estate.

Transcript

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[Real Estate Expert/Guest]

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[Interviewer/Co-host]

communities that we grew up with.

[Real Estate Expert/Guest]

You all are the bright spot.

[Co-host or Interviewer]

Thank you.

[Real Estate Expert/Guest]

Real estate.

[Co-host or Interviewer]

Thank you. And entrepreneurship for black Americans.

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[Co-host or Interviewer]

Thank you.

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[Real Estate Expert/Guest]

He came to earn our leisure.

[Co-host or Interviewer]

So how'd you, how'd you like get started specifically in Africa, like doing this like. Well, the relationship.

[Real Estate Expert/Guest]

When I was doing hospitality and running a hotel in south of France, I told myself either I go to Canada to work at the Sofitel at Montreal or they offered me to come to Dakar to work at the Novotel Hotel here in Dakar, the hostel. And I wanted to feel like home. I wanted to feel like I had an impact. Because when you go work in big cities, you just add some small percentage over small percentage and you're just a number. They replace you. When you come here, you become a player quickly. So it's a bigger playground, more interesting. And then you can actually become a Carnegie of your area. You can become a big investor. Whereas it's not impossible in big countries. But the, the, the struggle you have to go through, the difficulties, whatever you go through is too much headaches compared to the reward. And here you feel home. And where are you originally from? Have you.

[Interviewer/Co-host]

New York.

[Real Estate Expert/Guest]

New York?

[Interviewer/Co-host]

Yeah.

[Real Estate Expert/Guest]

Both. Yeah,

[Co-host or Interviewer]

it's beautiful, beautiful country. Definitely. You see, there's a lot that still has to be done. But that's opportunity.

[Real Estate Expert/Guest]

Yeah, lots of opportunity. And the purchasing power, when you're an American and you can put 100 grand in an apartment and looking at ROI around 10% is not crazy. It's interesting.

[Co-host or Interviewer]

So like a hundred thousand and get you an apartment here.

[Real Estate Expert/Guest]

Yeah, it can get you a one bedroom apartment. And now it's more running around one hundred ten, one hundred twenty. It keeps growing. The two. I have one bedroom apartment, I bought them eighty thousand each five years ago. Now they go around eighty, one hundred, one hundred and ten something. But the return is very high because it's 23%.

[Co-host or Interviewer]

How much is the rent?

[Real Estate Expert/Guest]

It's in US two thousand, approximately two thousand dollars. So 24 year. So around in this area, in this area it's going to be more like 1.5, 1.6.

[Co-host or Interviewer]

Do people buy cash or they get mortgages

[Real Estate Expert/Guest]

in Africa, they like cash. They don't Trust banks that much and they don't want to be in the system to show their earnings, to show traceability so that they can leverage funds. And bank system here is very tough. Like in US Mortgage is like nothing. You work a little and then you get it. Here you have to kill somebody to get the, to get the mortgage. Yeah, it's very tough.

[Interviewer/Co-host]

High interest rate.

[Real Estate Expert/Guest]

Let's say it's 8, 7, 8, that's not bad. But for, for African market, when you get the 24% RI, you borrow money at 8. Makes sense.

[Co-host or Interviewer]

That makes a lot of sense.

[Real Estate Expert/Guest]

Makes sense. But we need to be careful and resist the urge to be in the formal kind of mentality and be rushing to buy land, to buy apartment without thinking ahead. That's the issue. Some people like, they see the excitement and instead of taking the time they go into formal mode. And then you hear stories, oh, he came, he brought 50k down payment and now he's never heard about his 50k more again. You have to be careful.

[Co-host or Interviewer]

Let's talk about that because that's something that a lot of people are kind of nervous of. Like how do you avoid that?

[Real Estate Expert/Guest]

Yeah, you have to go through the proper channels. It cannot be, you know a guy who knows a guy and he's going to help you out. That's over. Forget about this. Anybody selling you that kind of, let's say I know a guy who knows a guy. Half the time it's yeah, you don't need to know a guy. If you have money, you go through the official channels, everything's going to be fine with you.

[Co-host or Interviewer]

Official channels would be like a real estate agent.

[Real Estate Expert/Guest]

Yeah, real estate agent, A notary agent. For example, we sold this penthouse here to an American guy in Texas, top 1,700k. And he insisted to go through the notary. We went through the process, we put the money in escrow account and no problem, you know. And he was insisting in procedures, which is good.

[Co-host or Interviewer]

How big, how big is that?

[Real Estate Expert/Guest]

It was about 250 square meter with a big balcony and you have a beautiful sea view from there to the ocean. Yeah.

[Interviewer/Co-host]

Is this building sold out?

[Real Estate Expert/Guest]

50% sold out. But the company I run because we are family investment fund and we don't depend on the sale to finish the property. So we don't rush out to sell because we want to finish it and to sell at the highest price expected. Whereas when you need money you sell quickly, early stage of the project to make sure you have the cash and then you build with the cash you've been given by the clients.

[Co-host or Interviewer]

How's the like? Is it like the land lease? Is it a land lease?

[Real Estate Expert/Guest]

Good question. You have like three types of contracts. One that is called I don't know in English. Deliberation is like the mayor of city says, if you have a project, I will give you this land. Once you build the project, we can make the paperwork so that you can get the official documents. Then you have the lease. This is maybe 50 years, 99 years. Once you have a real project, then you can ask for a permanent title. And then you have the permanent title, which is something that you should always ask. If you are foreigner, you come from outside Africa, ask for the official title.

[Co-host or Interviewer]

What's the permanent title?

[Real Estate Expert/Guest]

It's like Titreau and it's like it's registered in the African constitution that it's yours forever. Regardless of the president, regardless of the law, it's impossible for anybody to get that land from you. Except if he gives you money in exchange.

[Co-host or Interviewer]

Is that only in this country or

[Real Estate Expert/Guest]

no, A lot of countries, in every notary, whenever there is a notary, he has the power because he's a subsidiary of the state's power. So he can say, okay, we sign together, it's yours no matter what. That's why always go through. Even the money you give, never give it hand to hand to anybody. Even if I sell you an apartment, don't give me to me find a notary. Because legally speaking, he has the required. He's required to do the due diligence. If he doesn't do it, it's on him.

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[Interviewer/Co-host]

How competitive is this Market like this area, I think with all this coastal property and the appreciation for the land alone has to be going up, you know.

[Real Estate Expert/Guest]

Well, yeah, Dakar is like an almost island.

[Interviewer/Co-host]

Yeah.

[Real Estate Expert/Guest]

Contrary to Ivory Coast, Abidjan, which is a land city. Abidjan is growing like this exponentially without limit. Dakar is constrained to the top of the ocean. So that everything on this coast is like Miami style. Let's say the coast, then it's going high, high, high, high. Because it's impossible to go to like in Dubai, you cannot go in the water. So yeah, prices are going high. However, rented rent are being stable. That's why you have to be careful and start thinking ahead in. In a world where competition is high, lots of supply, lots of apartments, which are the ones that your tenants will pick the first. And this is where you have to invest.

[Interviewer/Co-host]

Are most people more likely to go closer to the water or is it just something that's walking distance?

[Real Estate Expert/Guest]

So let's say they're going to look at schools, schools and business districts. In Senegal, water is not something that deep because they are used to it. In Cabo Verde, water is not that deep. So but for expats.com water is a small factor, but they will not compromise distance, work distance for water.

[Interviewer/Co-host]

So how far away from the business district here?

[Real Estate Expert/Guest]

Something to know. Dakar is split into two areas. Where you are in Numen Azalai, it's the middle that you're in the middle. You can go both ways. Here you're in Al Mady area. The other side is business district area. So there is its own life here, business district, etc. And there is its own life over there. It's very rare that you have somebody that lives here and go in the morning, works over there is like one, one, one hour and a half. They're not going to do it. They're going to find a way to live here and work here, live there and work there, unless you really have to.

[Co-host or Interviewer]

So, like, for people, what's the biggest opportunity you think, just in Africa, period, right now for like the average, the average person that wants to invest in Africa?

[Real Estate Expert/Guest]

Good question. Well, because of the operation risks, I cannot recommend, let's say agriculture, industry, manufacturing, those are opportunities. But the operational risk are too high. So your money is too much at risk. So for me, I will focus on real estate because of, let's say, the stability and the predictability of it. You invest in farming. If and you don't live here, you have no idea whatever the guy is doing with your money, how serious he is. Is he selling at the right price? Is he producing at the right price? His employees, are they being legally contracted, etc. Etc. So I would say for this confederation, it's realistic. Then if you, let's say, come from the US and then you want to come and start to live here, then I would be open to any kind of business. You can go into hospitality. There is an American woman here. She's not American, but she studied in the US a lot of time. She has two hotels here. They're working, let's say services also.

[Interviewer/Co-host]

I think we just met with her.

[Real Estate Expert/Guest]

I had lunch today and yesterday at her restaurant in Fan. She's great. Swadu. So hospitality is okay, let's say financial service also is okay. Raising money. If you have the ability to raise US money and bring it to Africa, then you can make a lot of money. But again, you have to find a way to make this money safe as well. So it's a headache. Also people say oil and gas, but can the common person go in gas? So for me, when you have a 50k to 200k real estate.

[Interviewer/Co-host]

So for entrepreneurs that are here in Senegal, obviously you studied, you studied in Paris.

[Real Estate Expert/Guest]

Paris, yeah, came here.

[Interviewer/Co-host]

What does it look like for young entrepreneurs? Are there people like yourself that are talking to young people here to educate them on the process of real estate?

[Real Estate Expert/Guest]

Well, I have for, for instance, I will take my example. I have my platform with my podcast. And the reason why I wanted to create that podcast is because one of the things in the black community is that there is a shortage of information. It's not that we don't have the resources. It's not that we don't have the opportunity or the skills. There is a shortage of accessing information succession. How to build your real estate llc what you should do when you get your first money, what do you do with it? Do you spend it on, let's say expandable goods or do you invest in land, in properties, etc. And accessing information in Africa is definitely key. Definitely key. So more and more platform are doing this, let's say in Ivory coast, in Senegal also is starting. Some of them in France also are starting. But we still need more. We need more and more content creator to bring awareness. And awareness bring level of expectations, brings level of performance. When people know, then you cannot easily get around their knowledge and let's say light them.

[Interviewer/Co-host]

Sounds like another opportunity.

[Real Estate Expert/Guest]

Absolutely. Information. What you guys are doing, there is a void in what you guys are doing. The bridge between Africa and America. Let's say North America at large has to still be fulfilled.

[Co-host or Interviewer]

Yeah, 100%. What do you, what do you think this country will be like in 10 years? In the whole continent, like in 10 years. What do you, how do you think this is going to look in 10 years?

[Real Estate Expert/Guest]

Let's say, first thing that I want to to mention is that the African continent is a very young continent. So anything that has to do with the youth and the next generation, whether it's communication, whether it's technology, whether it's education, whether it's housing, everything that has to do with the young people getting older, it's a big, let's say, matter and topic. Also the growing of the middle class. We've known a gap between, let's say the lesser revenues kind of population and the high, high, high revenues. There is a big discrepancy between the two. And now if we take the example of ivory cost, this gap is getting smaller and smaller. You have a middle class that is now starting to require services, requiring quality experience, restaurant, clothes. And they don't, they no longer want to only look at the west to say, okay, I have a little money, I will spend it in Paris, I will spend it in New York. What can I do if I'm a Senegalese and travel to ivory cost, I'm an ivory cost and travel to Senegal. What can I have as a product? So the middle class and every service you can do for the middle class is very important. And also what I want to mention is that when you want to invest in Africa, most people, let's say, will focus on luxury goods, luxury service and only high level, which is a niche and it's getting crowded in that niche. What can we do for the middle class? What are the mass market products that I can create for that middle class?

[Interviewer/Co-host]

When you travel to different countries, you said Benin, Cote d', Ivoire, Morocco, as obviously real estate developer, but also as a consultant.

[Real Estate Expert/Guest]

Yeah.

[Interviewer/Co-host]

What are the things that you were advising them in based on the countries?

[Real Estate Expert/Guest]

Well, if we focus on real estate, the first thing I would tell my big investors or the state, I advise is to run away from ego investment. Let's say real estate and hospitality are huge platform for ego assets. I'm the biggest player in town, I want the biggest building. I'm the biggest player in town, I want the biggest tower, even though it doesn't respond to a need. So the first thing I say is make sure you do your due diligence in the market you're going to tackle. I know it's a basic it seems basic but. But you have no idea how much ego investment is big here. So if you want to invest in, let's say residential real estate, where are the schools, where are the work centers, where are the shops? What times does it take to go from this point to the other point? Is it safe? What are the rents? How much did you have to invest to produce that rent? And when you sort out all those question already, that's a big, big, big investment. And also I advise them to focus on people. Again it seems like a basic, but school and education and professionalism is a very paramount stake for Africa. If you want to build your factory, your hotel, your project, an engineering company, construction company, you're going to spend most your time creating skill, automatization, reporting process, you will spend all your time in the basics, not in the fancy stuff of the branding, the naming, the innovation, that's easy. So the last thing I would say is that in Africa, innovation and new ideas, let's say it's okay, but the most important is the quality of your execution. Can you execute? Can you go from point A to point B? Can you gather around you the good guys to work with you? Can you report? Can you follow process? Can you help other people follow process? Execution is key.

[Co-host or Interviewer]

The middle class like how much do

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What's up?

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[Co-host or Interviewer]

How much does the middle class make?

[Real Estate Expert/Guest]

Good question. It's hard to have numbers, let's say. But what I've observed based on my previous occupations is that let's say in ivory costs you can have middle class toy winning from 1,000 US to even 1.5,000, 2,000. And for ivory costs then it's a nice kind of living. You cannot have access to the best real estate property with that kind of money, but you can have a very good living. For rent. For rent and for everything. I even question that a guy that makes 1.5 here live significantly better than a guy that makes 1.5 in France. Significantly better. US or euros?

[Co-host or Interviewer]

Thousand, thousand, $500?

[Real Estate Expert/Guest]

Yeah, $1.5k a month. A month.

[Co-host or Interviewer]

That's how much money they make.

[Real Estate Expert/Guest]

Yeah, you can have that.

[Co-host or Interviewer]

You can live off of that.

[Real Estate Expert/Guest]

Yeah, definitely. Yeah, yeah. Definitely.

[Co-host or Interviewer]

Yeah.

[Real Estate Expert/Guest]

Yeah. Imagine that. Let's say the common salaries that you find in restaurants, in the hotels, in construction work is around roughly €200 and €250 US a month. Yes.

[Co-host or Interviewer]

For construction.

[Real Estate Expert/Guest]

For construction, entry level. I mean for waiting tables, entry level jobs. Those are numbers.

[Interviewer/Co-host]

250amonth?

[Real Estate Expert/Guest]

Yeah. So when you reach 1,000, if you

[Co-host or Interviewer]

make $1,000 a month, you're in the middle class.

[Real Estate Expert/Guest]

It's hard to define, let's say, because we don't have the right stats, but you're good enough that you can start to invest, to save. And that's why you have to be smart. Because most people who have salary gap, positive salary gap, instead of keeping the same lifestyle and the extra is for saving or investing, all of a sudden they change lifestyle.

[Co-host or Interviewer]

How much money do you need to

[Interviewer/Co-host]

be rich here monthly or just.

[Co-host or Interviewer]

Or just engine. Yeah. Somebody. It's like so for. Because I'm asking because.

[Real Estate Expert/Guest]

Yeah.

[Co-host or Interviewer]

People think a lot. Some people are thinking about moving to Africa.

[Real Estate Expert/Guest]

Okay.

[Co-host or Interviewer]

And in America they might be middle class.

[Real Estate Expert/Guest]

Yeah.

[Co-host or Interviewer]

But here they might, they might be rich. Right.

[Real Estate Expert/Guest]

What is the, the middle class? Let's say salary for New York is crazy, but let's say America.

[Co-host or Interviewer]

Just America.

[Real Estate Expert/Guest]

Yeah, America.

[Co-host or Interviewer]

I would say a hundred thousand dollars.

[Real Estate Expert/Guest]

With that kind of money, you're, you're well off here, really. Yeah.

[Interviewer/Co-host]

Single person or family.

[Co-host or Interviewer]

I mean, you're saying like in middle

[Real Estate Expert/Guest]

America, if you have two household and you make that kind of money, you have a business that can be operated from distance and then you work from here and you make that kind of money. Yeah. You can invest.

[Co-host or Interviewer]

If you make, let's say, $5,000 a month.

[Real Estate Expert/Guest]

Yeah.

[Co-host or Interviewer]

Then you're, you're doing good.

[Real Estate Expert/Guest]

Yeah, you're doing really good.

[Interviewer/Co-host]

You're wealthy.

[Co-host or Interviewer]

No, you're not wealthy, but you're doing good.

[Real Estate Expert/Guest]

Yeah, you're doing good because you have a wealthy class here that I believe is in the same level as the wealthy class wherever you. Yeah. In France or in US it's not like, let's say common, but you can find some of them.

[Interviewer/Co-host]

So you said you started in hospitality. Now I want to reverse engineer it. There's somebody right now that's working in hospitality, maybe at the noon.

[Sponsor/Ad Voice]

What were you taking notes on?

[Interviewer/Co-host]

What were you learning that you're implementing now?

[Real Estate Expert/Guest]

Okay. In hospitality, I learned the execution. If you have a group of 20 person that comes to your hotel in 20 minutes, they want their rooms. They don't want to talk to you, they don't want excuses. They're tired, they're hot. You need to deliver. There is an ending time. And that is something that helped me a lot to help my team reach that level of demanding expectation that no excuses. And when you work in hospitality, no excuse is possible. There is a human being that will come to you, shout at you, be mad at you right now, you cannot invent something. So execution is the first thing. Anticipation, like I don't believe that's my philosophy that you can have bad employees, but you can have negligent leadership. For example, if you as a leader, you make sure you prepare your team to anticipate, to ask the right question, to implement the right moves. And as well you make sure you accept the demand that you can respond to. Because some business owner, just for the appetite of the revenue, then they will say, okay, yes, come in, I can accept you, I can welcome you. But you can't. It's better you say, okay, look, I can welcome only 50 of you, not 100 of you, and do it well. Then say okay, come the hundred and then be shouting at your team because they're unable to perform at the hundred people you wanted to welcome. So leadership and smart and anticipating leadership is key. And lastly, something that is very important is to adapt to many cultures. I think it's overrated to talk about Africa now. You have North Africa and you have many North Africa, you have West Africa and you have many in West Africa and Central Africa and South Africa, East Africa. When you work in hospitality, then you see all of those culture combining and working together and you know how to adapt to each and every one of them. So one thing that we should do is to limit our reference. And I do it myself also a lot of time as Africa and start being more precise. And like we say, we say New York, we say Miami, then we need to get in that point where we say Dakar, Abidjan, Niamey, Nairobi, etc. Etc.

[Interviewer/Co-host]

Point taken.

[Real Estate Expert/Guest]

But I'm the first one who still also do it.

[Co-host or Interviewer]

I think that it has power both ways. Like it has power as a collective Africa.

[Real Estate Expert/Guest]

Yeah.

[Co-host or Interviewer]

But it also has power, like you said, of just not looking at it as, as one either. Because for, for people, when something happens in one place, then it's just like something happens in Congo, then it happens. Like that's how people are thinking. Like that's what it's like they don't understand. It's like it could be an eight hour flight, it'd be the same thing. Like if something happened in Mexico, you wouldn't be looking at New York City.

[Real Estate Expert/Guest]

That's a very key point. Let me emphasize on something. Let's say 20 years ago in hospitality in Africa, let's say Ivory coast, Senegal, Ghanaian, 65% to 70% of your travelers were European or North American. 65 to 70%. The drawback of that is that they are Very sensitive to changes in reputation, changes in landscape, changes in political landscape, etc. You hear about COVID everybody leaves Ebola, everybody leaves political issue. Everybody lives Africa. Now there is a shift where now about 60% of your travelers come from Africa. North Africa, Ivory Coast, Senegal, Mali, the Gambia, Ghana, Nigeria. Which means that. Exactly what you said. When a guy from Nigeria hears about the conflict in, let's say Lome is not going to be scared to go to Abidjan. He knows the landscape, which is something that is very good for us to have our own autonomous local market that is very, very important and it's growing now. That's why I'm. I'm saying let's not only focus on luxury goods, let's also learn how to manufacture, let's say mid scale range products or even mass market products.

[Sponsor/Ad Voice]

Which, which markets do you like?

[Interviewer/Co-host]

Outside of the car, obviously you brought up Ivory coast, so I'm thinking Aban is definitely one conqueror. We were just there in Guinea. What markets in West Africa are there some in East Africa as well? You mentioned Nairobi.

[Real Estate Expert/Guest]

We've been there, let's say from a very subjective standpoint, Bena, because also I'm from Haiti, both my parents, although I've never been. And Bena has been doing a really great work for the last 10 years. The President has officially announced that he will leave democratically and which is a big step for African countries. The African countries are so much in the appetite to develop that when you give them stability, it skyrockets. So the first gift we should wish for Africa is political stability, regime stability. And Binan has shown that. And Benin is doing a crazy great work with the new Sofitel Hotel, with the events they do at the end of the year, every end of December, which is very, very, very high demand and great events. If you love music, they have also we do where they do the Voldem days also is a great work. The city is very clean. And let's say also I look at Gynea right now, I know you've been there recently. And also there is a huge appetite to build, to develop and they are very, very ambitious. You talked to Tion, I think recently and is an exemplification of that. Let's say I've been impressed with Morocco. I've been impressed with Morocco. I was in Morocco 20 years ago, 15 years ago, 10 years ago. Every five years I go there and I say, what's going on? How are they able to execute that quick? Their vision? I'm impressed with that. The malls, the hotels, how clean it is. It's not perfect. As you can hear recently, there are some protests and nothing is perfect. But when you look from an outside point of view, I can see from a subjective point of view, the progress, let's say those are the countries I'm looking at right now.

[Co-host or Interviewer]

Well, thank you, man. Thank you for taking your time.

[Interviewer/Co-host]

Appreciate you.

[Co-host or Interviewer]

Thank you for taking your time. Really got a lot of great insight from this man.

[Real Estate Expert/Guest]

My pleasure. And I'm very happy because I have my cousins in the U.S. historians, New Jersey, in New York, in Boston, in Miami. And I'm always happy when they ask about Africa and they want to discover their roots because let's say 20 years ago, it was not something that was obvious for a black American to say, I'm from Africa. And now I don't know if it's thanks to the Afrobeats, thanks to the marketing, thanks to Wakanda, thanks to, I don't know. But it's becoming more and more trendy to say I'm from Africa. I don't mind the reason, the key is that we're getting together and the ability for black African and Black American and black French to come together as a whole and to collaborate as a high scale without unhealthy competition. That's the main asset that we can wish for us.

[Interviewer/Co-host]

100% all plays a part.

[Co-host or Interviewer]

It's important. Appreciate it, man.

[Real Estate Expert/Guest]

Pleasure.

[Co-host or Interviewer]

Thank you.

[Real Estate Expert/Guest]

Thank you.

[Interviewer/Co-host]

Mercy earners.

[Sponsor/Ad Voice]

What's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partner with Empower. Empower is all about helping you invest well so you can go out and live a little. Their free Empower Personal Dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals and more. You've worked hard for your money, now make sure it's working hard for you. Download the Empower Personal dashboard or visit empower.com not an Empower client, paid or sponsored.

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[Real Estate Expert/Guest]

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