Charting a Resilient Future: Insights from the 2023 West Africa Property Investment Summit

In a significant gathering of real estate influencers, the West Africa Property Investment Summit 2023, which took place on Wednesday, 23rd November, brought together leading figures from Kenya, Ghana, South Africa, and Nigeria. Under the theme “Rewriting the Narrative: Positioning & Strategies for the Future,” the summit served as a vibrant forum for in-depth discussions and strategic planning, aiming to shape the trajectory of West Africa’s real estate landscape: “Industry Leaders Chart Course For Resilient Future At The 2023 West African Property Investment Summit.”

Resilient Future: The 2023 West Africa Property Investment Summit

Resilience in the Face of Macroeconomic Challenges

One of the key speakers, Mr Tola Akinhanmi, the Head of Real Estate Finance at Stanbic IBTC, took centre stage to address the challenges posed by the current macroeconomic environment. Despite grappling with inflation, exchange rate volatility, and fluctuating interest rates, Akinhanmi’s message was one of resilience. He underscored the real estate sector’s intrinsic strength, characterizing it as a long-term asset class that provides essential business infrastructure supporting people’s livelihoods, work, and recreation. Akinhanmi highlighted Stanbic IBTC’s commitment to working closely with sponsors, understanding assets, and structuring solutions that ensure stability, allowing these assets to remain relevant through various economic cycles.

Optimism for 2024: A Balanced Outlook

Oladapo Runsewe, the Projects and City Reports Lead at Estate Intel provided a positive outlook for 2024. Citing statistics from the Nigerian Bureau of Statistics that indicated an increase in the real construction sector’s contributions to the GDP in the last quarter, Runsewe foresaw a balanced and positive effect on the market. He emphasized the inevitability of construction and development continuing, driven by the ongoing demand for housing and real estate investments. However, Runsewe highlighted the imperative for collaboration, urging industry participants and the government to join forces on a larger scale to address the substantial housing deficit, particularly in urban centres like Lagos.

Sustainability as a Driving Force

Temilola Shonola, Head of the Edge Program at the International Finance Corporation (IFC), brought attention to the importance of sustainable building practices. Shonola urged developers to embrace green building, dispelling the misconception that it is an expensive endeavour. She introduced the IFC’s free App designed to simplify the green certification process, making it accessible for builders looking to contribute to environmental sustainability. Shonola stressed that more of the market need to adopt green building practices, not only for environmental reasons but also as a means to reduce utility costs and ensure long-term impact.

Navigating the Commercial Real Estate Cycle

Pepler Sandri, the Director of Capital Markets at JLL, delved into the complexities of the commercial real estate cycle. Acknowledging the sector’s challenges and the impact of the global COVID-19 pandemic, Sandri painted a picture of recovery and resilience. He noted that Nigeria, like many other countries, faced unique macro issues affecting its recovery. Looking ahead, Sandri expressed optimism as interest rates stabilize, predicting a potential recovery in the next 6-12 months in global developed markets. However, he cautioned that Nigeria might experience a longer recovery period, echoing sentiments from Stanbic’s chief economist, who suggested a year or two before a strong trajectory toward recovery becomes evident.

Conclusion: A Call for Collaboration and Sustainable Growth

The West Africa Property Investment Summit 2023 provided an invaluable platform for industry leaders to share insights, strategies, and collaborative approaches to propel the real estate sector forward. As the summit concluded, attendees were left with a renewed sense of optimism and determination to navigate the ever-evolving landscape of West Africa’s property market. The resounding message from the summit echoed the need for collaboration, sustainability, and strategic planning to ensure a resilient and prosperous future for the region’s real estate industry. Read More

Overpopulation: Leading To Decline In Scare Resources

Overpopulation has emerged as a global concern affecting various aspects of our lives, including the availability of resources needed for human survival. As the world’s population continues to expand at an alarming rate, it is crucial to recognize the detrimental effects it poses on our ability to sustainably manage and distribute scarce resources: “Overpopulation: Leading To Decline In Scare Resources.”

This puts immense pressure on agricultural systems to produce more food, leading to deforestation, habitat degradation and pollution caused by intensive farming practices. This article will explore how overpopulation increases the problem of resources scarcity and the consequential decline in global sustainability.

Meaning and Perspectives

Overpopulation refers to when there are more people living in a given region than there are resources available and the ecosystem can support. Due to the remarkable rate at which the world’s population is growing, this subject matter has received a lot of attention. Overpopulation can have negative effects on the environment, the economy and our overall quality of life, among other things.

One of the primary concerns associated with overpopulation is the strain it places on the earth’s limited resources. As the population increases, demand for food, water and energy rise dramatically.

The earth’s population has grown exponentially over the past century, crossing the 7.8 billion marks in 2021. This rapid expansion places an immense strain on essential resources, including food, water, energy and land.

Overpopulation: Leading To Decline In Scare Resources

The impact of overpopulation on the environment is not limited to the depletion of resources alone. Rapid urbanization often accompanies population growth, resulting in the destruction of natural habitats to make way for housing and infrastructure development. This loss of biodiversity has far-reaching consequences, disrupting ecosystems and disturbing the delicate balance between various species. It can lead to the extinction of certain plant and animal species, affecting biodiversity and undermining the stability of the entire ecosystem.

Moreover, overpopulation affects the economic landscape of nations. The exponential growth of population creates a high demand for jobs, housing, and resources. It results in increased competition for limited job opportunities, driving down wages and potentially leading to unemployment and poverty. Furthermore, inadequate infrastructure and insufficient public services become prevalent as governments struggle to keep up with the demands of a growing population, particularly in developing countries. This puts a strain on education, healthcare, and transportation systems, leading to compromised quality and accessibility of these essential services.

The implications of overpopulation extend beyond the environment and economy and permeate into the daily lives of individuals. As cities become overcrowded, congestion, traffic jams, and pollution become significant concerns, impacting air quality and overall health. Additionally, increased competition for resources can lead to social tensions, such as unequal distribution of wealth and resources, strained social services, and inadequate living conditions. In extreme cases, the population density can even result in crime rates and social unrest.

Facing the challenges associated with overpopulation requires collective action from individuals, communities, and governments. Education and family planning initiatives play a vital role in empowering individuals to make informed decisions about family size and reproductive health. Accessible and affordable contraceptives, alongside comprehensive sexual education programs, can help curb population growth rates. Governments need to invest in sustainable development, focusing on renewable energy sources, efficient agricultural practices, and improved infrastructure. Additionally, efforts to promote conservation and protection of natural habitats should be prioritized to preserve biodiversity and mitigate the environmental impacts of overpopulation.

Decline In Scare Resources 

1. Food Scarcity: With more mouths to feed, the demand for food increases significantly. Overpopulation amplifies the challenge of ensuring food security worldwide. Arable land, necessary for agriculture, is diminishing due to urbanization and soil degradation. Additionally, water scarcity further limits the ability to expand agricultural production. This interplay between population growth and limited resources leads to higher dependence on unsustainable agricultural practices, causing soil erosion, deforestation, and overuse of chemical fertilizers.
2. Water Scarcity: Availability of fresh water is vital for various sectors, including agriculture, sanitation, and industrial production. Overpopulation leads to an increased demand for water, which depletes water sources faster than they can be replenished. Furthermore, population concentration in urban areas strains local water supply systems, resulting in water scarcity and compromised water quality.
3. Energy Scarcity: The growing population requires more energy to power homes, industries, and transportation systems. Fossil fuels, which are currently the primary energy source, are depleting rapidly and have severe environmental consequences. Meeting escalating energy demands with finite resources leads to energy scarcity and the continued reliance on unsustainable practices that contribute to climate change and air pollution.
4. Land Scarcity: As urbanization spreads, overpopulated areas face a scarcity of livable space. Rapidly expanding cities often encroach on fertile lands and natural habitats, leading to deforestation, loss of biodiversity, and reduced sustainability in land use. This undermines delicate ecosystems and disrupts the balance necessary for maintaining a healthy planet.

Causes Of Overpopulation

Today the Earth is home to more than 7.8 billion people. By 2100 the population is on track to hit 10.8 billion, according to the United Nations — and that’s assuming steady fertility declines in many countries. Interestingly, if extra progress is made in women’s reproductive self-determination, and fertility falls more than the United Nations assumes is likely, the population in 2100 might be a relatively smaller 7.3 billion. Most common causes include:

1. Falling mortality rate: The primary (and perhaps most obvious) cause of population growth is an imbalance between births and deaths. The infant mortality rate has decreased globally, with 4.1 million infant deaths in 2017 compared to 8.8 million in 1990, according to the World Health Organization (WHO).

At the same time, lifespans are increasing around the world. Those of us who are alive today will likely live much longer than most of our ancestors. Global average life expectancy has more than doubled since 1900, thanks to advancements in medicine, technology, and general hygiene. Falling mortality rates are certainly nothing to complain about either, but widespread longevity does contribute to the mathematics of increasing population numbers.

2. Underutilized contraception: These women aren’t using contraceptives for a variety of reasons, including social norms or religious beliefs that discourage birth control, misconceptions about adverse side effects, and a lack of agency for women to make decisions around sex and family planning. An estimated 44% of pregnancies were unintended worldwide between 2010-2014. Getting more women, the access and agency to utilize family planning methods could go a long way in flattening the population curve.
3. Lack of female education: Although female access to education has increased over the years, the gender gap remains. Increasing and encouraging education among women and girls can have a number of positive ripple effects, including delayed childbearing, healthier children, and an increase in workforce participation. Plenty of evidence suggests a negative correlation between female education and fertility rates.

The Effects of Overpopulation

1. Ecological degradation: An increase in population will inevitably create pressures leading to more deforestation, decreased biodiversity, and spikes in pollution and emissions, which will exacerbate climate change. Ultimately, unless we take action to help minimize further population growth heading into the remainder of this century, many scientists believe the additional stress on the planet will lead to ecological disruption and collapse so severe it threatens the viability of life on Earth as we know it.
2. Increased conflicts: The scarcity brought about by environmental disruption and overpopulation has the potential to trigger an increase in violence and political unrest. We’re already seeing wars fought over water, land, and energy resources in the Middle East and other regions, and the turmoil is likely to increase as the global population grows even larger.

 Sustainable Solution To Overpopulation 

To address the challenges caused by overpopulation and the decline in scarce resources, it is crucial to adopt sustainable solutions:

1. Population Stabilization: Promoting family planning initiatives and education, empowering women, and ensuring access to reproductive healthcare can help control population growth.
2. Resource Efficiency: Encouraging sustainable farming practices, such as organic farming and irrigation management, can help conserve water and land resources. Investing in renewable energy sources and promoting energy-efficient technologies will help reduce reliance on fossil fuels.
3. Urban Planning: Developing smart cities that prioritize resource management, efficient transportation, and green infrastructure can alleviate the strain on resources in densely populated areas.

 Conclusion 

Overpopulation poses a significant threat to the availability of scarce resources and undermines global sustainability. To mitigate the decline in these precious resources, it is crucial to focus on population stabilization, resource efficiency, and sustainable urban planning. Only through collective efforts and long-term strategies can we effectively address the challenges of overpopulation and secure a better future for generations to come.

In conclusion, overpopulation is a pressing issue with profound consequences for our planet. The strain it places on resources, the environment, the economy and the overall quality of life cannot be ignored. Recognizing the importance of addressing this issue is paramount in ensuring a sustainable future for generations to come. By taking proactive measures and implementing sustainable practices, the society at large can achieve a balanced population size that coexists harmoniously with our planet’s resources. See

BEST PLACES TO VISIT IN MOROCCO WITH A TIGHT BUDGET

Some people travel to have fun, while others travel to explore. It`s time to add Morocco to your list of places to visit if, without a doubt, you believe that you fall into the latter category.

Morocco not only offers the best in tourism, but it also immerses you in a culture and way of life that is hard to find anywhere else in the world today. Morocco is a diverse and extraordinary country in North Africa, influenced by different cultures such as Arabic, Berber, and even French.

Along the Atlantic coast, you’ll find coastal regions such as Essaouira, Casablanca, and Tangier, as well as vibrant cultural centers such as Marrakech and Fez, and the stark landscapes of the Sahara Desert It is a place that will leave you with unforgettable memories while also providing you with a better understanding of different cultures and lifestyles.

If you are planning a trip to Morocco in the near future, make sure to visit these well-known and charming Moroccan destinations. All of these locations are your answer to where to go in Morocco on a tight budget!

ASILAH

Asilah, located on Morocco’s North Atlantic coast, is a popular summer destination for tourists and locals alike.

In addition to the sandy beaches, the city walls are covered with colorful murals making this city one of the best places to visit in Morocco! This is just one of many great reasons why a honeymoon in Morocco should be on your to-do list! In Asilah you should Shop in the markets, have lunch at Oceano Casa Pepe, and visit Aplanos, the famous art gallery.

If you visit in August, don’t miss the city’s annual arts festival, which makes it everyone’s favorite city for young people in Morocco right now!

VOLUBILIS

With ruins of towns ranging from the pre-Roman to the early Islamic periods, Volubilis is one of Morocco’s biggest and most significant archaeological monuments. Volubilis was the seat of the Mauritanian monarchy during Juba II and Ptolemy’s reigns. The enormous Old Medina in Fez and Bab Mansour in Meknes are what the Fez-Meknes region is best known for.

The Roman ruins of Volubilis are located outside Meknes, about a 30-minute taxi ride from the city’s ancient walls. One of Morocco’s nine UNESCO World Heritage Sites, Volubilis costs just 70 MAD ($7.8) to enter.  Guides can be hired at the entrance to the historic site. The surcharge is MAD 100.

While there, explore the ruins’ intricate floor tiles. The flora and fauna of the Roman period are represented in preserved images of marine life, cattle, and native plants.

ESSAOUIRA (For Game of Thrones lovers)

A famous tourist destination known for its numerous riads (a sort of bed and breakfast), the Old Town (Medina) was declared a UNESCO World Heritage Site in 2001. Essaouira is known for its handicrafts, especially marquetry. Not only is it the perfect place to escape the heat and monotony of the big city, but it is also where Game of Thrones Season 3 was filmed.

Essaouira is a beachfront port city with 18th-century defensive walls that are honey-colored. With direct road links to Safi, Marrakech, and Agadir. Camels can be seen roaming the beaches with golden sand. By the sea, you can find a wide range of inexpensive foods, such as regional favorites like fish, seasonal fresh fruit, and various Moroccan pancakes.

When the weather is too windy outside, spend a few dollars at the Sidi Mohammed Ben Abdellah Museum. If you’re interested in traditional music or simply want to learn as much as you can about the history of the city, the museum is a must-visit.

RABAT

The Atlantic Ocean and the Bouregreg River both have shores where Rabat, the capital of Morocco, is located. It is well-known for places like the Kasbah of the Udayas that reflect its Islamic and French colonial traditions.

This royal fort from the Berber era overlooks the sea and is encircled by formal gardens created by the French. Above a mosque’s ruins rises the famous Hassan Tower, a 12th-century minaret.

The pleasant weather throughout the year and the serene beaches in Morocco are only a couple of the factors contributing to its popularity. It is among the top sites in Morocco because of its excellent experiences!

The city is divided into a contemporary section with large boulevards and outdoor cafes and an older section known as the medina with defensive walls.

Make sure not to omit this location from your itinerary because it has so much to offer visitors of all ages and ethnicities!

IFRANE

Ifrane, a hilly city in Morocco, gives forth all the scents and noises of the country while looking like a tiny Swiss village in the Alps. It is renowned for its alpine-style architecture and close proximity to forests and ski slopes. A famous sight is a stone lion statue that is located close to the lush Parc la Prairie. Ain Vittel is a spring with numerous waterfalls located just outside of town.

Rare Barbary macaques can be found in Ifrane National Park to the west, which has forests of Atlas cedars. Ifrane stays relatively cool in the summer, with temperatures hovering around 30 degrees Celsius, while the rest of the kingdom swelters. And throughout the winter, snow can roll off buildings thanks to the alpine-style A-frame construction.

In just over an hour, a MAD 60 grand taxi journey from Meknes will bring you to the city’s core. When you get there, it’s wise to first enjoy some barbeque in one of the city’s many eateries before going to Ifrane Lake. There are many locations outside the city center where you may enjoy a picnic in the great outdoors while sipping traditional Moroccan mint tea. You can also drink from Ain Ifrane’s gushing, fresh water spouts.

CASABLANCA

In western Morocco, Casablanca is a port city and a major commercial center that faces the Atlantic Ocean. The downtown Moresque architecture, a fusion of Moorish design and European art deco, is evidence of the city’s French colonial past.

The massive Hassan II Mosque finished in 1993, features a 210-meter minaret topped with lasers pointed toward Mecca and partially overhangs the lake. Although Casablanca may not be as atmospheric as the other Moroccan cities, it is unquestionably one of the best destinations to visit and the epitome of modernity. The nicest thing to admire in this city is its magnificent Moresque buildings, which blend French colonial architecture with traditional Moroccan design.

It is undoubtedly one of the best destinations to visit in Morocco because of its amazing cuisine and architecture.

CHEFCHAOUEN

Because of its amazing blue houses and streets, Chefchaouen is referred to as the “Blue Pearl” of Morocco. People have been speculating about the motives behind the blue paint job on Jewish immigrants’ homes for years.

This mystery gives the city its attractiveness and contributes to its long history as a well-liked tourist attraction. Some claim that the color blue symbolizes the sky and heaven, serving as a pleasant reminder to live peacefully.

You will be in wonder as you stroll around the artistic northwest mountain village of Chefchaouen, and it won’t cost you much. The entire city’s walls are covered in flowering pot plants and a blue wash.

Although it’s regarded as a starting point for trips to Tangier, it’s worth stopping by for at least a day to unwind, get lost in the town’s confusing streets, and escape the hustle and bustle of the bigger towns.

BEST TIME TO VISIT MOROCCO

Morocco is best visited in the autumn (September to November) or in the early spring (March to April). Although it is heated outside, you won’t experience the bitter cold or searing heat. Morocco is remarkable no matter what time of year you decide to come.

In conclusion, if you want to scratch your itch of wonder. If you want to go through mankind’s memory and enjoy the best of modernity at the same time, morocco is the next place you should go for vacation.