The name of the company is “Grit” and they have higher expectations to make it in the United Kingdom, will they succeed?
he story of Africa is long and complex, kings, emperors, colonies, trade and so much more. Recently, this massive continent (with 54 countries, 1.2 billion people, and an area of 30.37 million km²) is getting lots of attention in important publications across the globe, talking about the sustained growth in its economies since the start of the new millennium.
Aside from those promising news, there are some sectors that do not get much discussion in the media, all because of the investor sentiment, which is vulnerable to volatile currencies and commodities that do not reflect positive and effective results.
Next is the case of Grit Real Estate Income Group, a Pan-African property investment company focused on real estate assets with dual primary listings on the Johannesburg Stock Market (JSE) in South Africa, and the Official Market of the Stock Exchange of Mauritius (SEM).
The vision of its CEO, Bronwyn Corbett is to convince global investors to think differently about property ownership in Africa.
“We want to diversify our shareholder base and put back the liquidity for our existing shareholders. It’s also about allowing the international investment community access to the African continent,” Corbett told to the press.
Their strategy consists in reaching out markets outside of Africa in order to get the investment circles interested in their business model, and the United Kingdom seems to be the place to go. With a plan to raise an IPO of $120 million on July 31 at the LSE (London Stock Exchange), the money will be used to boost the internal growth of the company by purchasing office and industrial properties in Ghana, something that Corbett repeatedly assures as a strong opportunity with a return on investment of more than 40 percent in the coming years.
Countries where Grit is present: Botswana, Kenya, Mozambique, Zambia, Ghana, Mauritius, Morocco, Seychelles and Senegal.