South Africa's Thomani launches a new real estate investment platform

June 16, 2019
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Thomani, a South African startup, has launched a new platform for investing in real estate that will allow individuals to begin the process

Launched this year via a data science program at AlphaCodeThomani is aimed at individuals that earn too much money to qualify for South African government housing subsidies but too little to access bank capital.

It allows these people to invest in property regardless by becoming part of a community that co-invests for as little as ZAR5,000 (approximately US$350) at a time. Thomani makes revenues from commissions and property management fees, and handles rental collection from tenants.

Co-Founder Shaka Ramulifho said the existing real estate industry in South Africa was only catering for part of the market, and Thomani was trying to fill the gap.

“The concept of a property stokvel has existed for generations. Thomani makes it safe to co-own property because we remove the risk of being jointly or severally liable because the stokvels owns the property,” he said.

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