Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. This is higher than projected global averages of 2.7% and 3.2%
Urbanisation is one the most profound transformations that the African continent will undergo in the 21st century. Since 1990, the number of cities in Africa has doubled in number – from 3 300 to 7 600 – their cumulative population has increased by 500 million people. Africa’s cities are the most rapidly growing cities in the world; they are the youngest and they are changing fast. Their impact on Africa’s economic, social and political landscape in the coming decades is likely to be profound.
Certain real estate sectors on the continent have demonstrated relative resilience despite the unprecedented global economic headwinds albeit with a
divergence in performance between those well located, sustainable, core assets, hard currency income and the rest.
As an impact real estate investment group, it is important to remain conscious of the overall effect our operations are having on all stakeholders, including the environment. We are acutely aware that going beyond buildings carries with it a greater responsibility, especially in a sector that is one of the largest contributors to greenhouse gas emissions.
We remain firmly committed to becoming Net Zero, setting a global benchmark for sustainability in African real estate.
Grit Real Estate Income is an internally-managed, Mauritius-headquartered, Guernsey incorporated pan-African real estate company founded in 2014. It targets / invests in:
Our sustainability journey started a few years ago, and we have built a strong foundation based on the United Nations’ Sustainable Development Goals (SDGs) and ESG frameworks. The Responsible Business Committee (RBC) has structured and centralised our approach to ensure alignment with international sustainability frameworks. Until the 2025 financial year, our focus areas will include: