The Nigeria Mortage Refinance Company (NMRC) has partnered with House Africa, a blockchain startup, in order to deploy a digital land / property title authentication and verification system.
The verification system, propvat.com, makes it possible for individuals and organizations to authenticate, validate, and confirm the value of any property or land across Nigeria, ultimately improving mortgage financing transactions in Nigeria.
According to Taofeeq Olatinwo, Head of ICT & Business Operations Operations, NMRC, said:
“NMRC is delighted to partner with HouseAfrica in solving the land titling issues to strengthen the housing market in Nigeria.”
Speaking about the partnership, Nnamdi Uba, CEO and Co-founder, House Africa, said:
“The partnership will help to unlock trapped assets and capital in residential real estate valued at over 300-900billion USD. and then wealth creation through increased access to credit and growth in mortgage penetration by as much as 3% – 5% of GDP over a 5-10-year period (subject to increased adoption and user rates).”
About House Africa
HouseAfrica.io is a real estate focused start-up headquartered in Nigeria, leveraging emerging technologies like Blockchain to make property transactions secure, transparent and affordable.
In 2019, the startup won the “Best African Blockchain Startup at the 2019” at the AfricArena Conference – Fantom Blockchain Challenge and was also amongst the elven startups selected for the AfriTech accelerator 2019 cohort.
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