A look back at 2023 and the steps
taken on our journey to unlock the
$1 trillion African affordable housing market
Empowa Annual Report 2023 Achievements and Milestones
As we reflect on the year 2023, we are excited to share with you the significant milestones and achievements that Empowa has accomplished in its mission to empower communities and provide affordable housing solutions across Africa. Here is an overview of the key developments:
Financial Modeling Advancements:
In a strategic move, Empowa expanded on its white paper, introducing the groundbreaking Blackpaper. This detailed financial modelling necessary for collateralizing loans using the EMP token has paved the way for attracting substantial institutional capital and reinforcing Empowa’s commitment to affordability and financial sustainability.
A Purpose-Built CRM
Empowa Pay, a purpose-built CRM, was successfully launched to better manage funds deployed by offering transparent and auditable payment data on-chain. This development enhances Empowa’s ability to manage lease-to-own contracts efficiently.
The Maraza Project
Empowa, in collaboration with local partners such as SDU Beira, continued progress on the Maraza Project in Mozambique. Notably, a 3-hectare pilot area was prepared with basic infrastructure, marking a significant step toward the construction of the Maraza Residential and Commercial Park. SDU Beira’s commitment to sustainable urban development aligns with Empowa’s vision for community growth and improvement.
International Recognition and Partnerships
Empowa was invited to present at prestigious events, including the World Bank’s Global Affordable Housing Conference and the East Africa Property Investment Summit. These opportunities showcased Empowa’s commitment to innovation, technology, and sustainable housing solutions.
Climate Smart Construction
Empowa’s commitment to climate-smart construction was put to the test during Cyclone Freddy in Mozambique. The resilience of Empowa homes to extreme weather conditions demonstrates the importance of sustainable building practices in the face of climate change. In the images to the left you can see the condition of homes in Beira the day after cyclone Freddy and the condition of the Casa Real built homes.
Coinbase recognized Empowa’s mission to address the backlog of affordable homes in Africa by featuring it in their “Update the System” series. This acknowledgment highlights the importance of Empowa’s efforts in providing solutions for those excluded from the traditional financial system.
Empowa Pay Expansion
Empowa Pay functionality was expanded to include Hedera distributed ledger technology, further enhancing transparency and management capabilities. Read more about the Hedera integration here.
We have also onboarded 17 developers who are currently tracking
$7 853 000 worth of housing through the platform. This has been
achieved in only 6 months.
Empowa Trade (Consumer) Launch
Empowa Trade (Consumer) was launched on the testnet, enabling holders of collateral NFTs to trade them in EMP tokens. This strategic move increases the utility of the EMP token and opens new avenues for token holders.
Empowa celebrates the success of its Rent-to-Own program, with the first 30 residents showcasing inspiring payment profiles. This success validates Empowa’s commitment to making finance for quality housing accessible to those traditionally excluded from mortgages. To date, all tenants are up to date on their payments and on average have already paid off 15% of the value of their homes in 12 months.
Empowa was selected by the Cardano Foundation as the official NFT partner of the summit. The NFT, dedicated to raising funds for affordable homes, has garnered tremendous support, with over 85,000 ADA already sold. This partnership not only demonstrates Empowa’s commitment to leveraging blockchain technology for social impact but also signifies the growing recognition within the Cardano community of the importance of addressing housing challenges in Africa.
Maraza Project’s Environmental Impact
The Maraza project received positive results in its initial EDGE assessment, reinforcing Empowa’s commitment to environmental sustainability and unlocking potential funds from institutions with a strong focus on green initiatives.
Recognition in the 2023 Housing Finance Yearbook by CAHF
Empowa was honoured to be featured prominently in the latest 2023 Housing Finance Yearbook by CAHF | Centre for Affordable Housing Finance in Africa. The Yearbook, a comprehensive resource in the affordable housing sector, acknowledges Empowa’s impactful contributions and innovation along the housing delivery value chain. This recognition validates our efforts and positions Empowa as a noteworthy player in the broader discourse on housing finance, showcasing our dedication to driving positive change and innovation in the industry.
$EMP Vault Launch
with Genius Yield
Empowa partnered with Genius Yield to introduce the EMP Vault, a platform designed to provide rewards for token holders. This innovative solution enhances the attractiveness of EMP tokens, fostering community engagement and loyalty.
As we conclude the year, we express gratitude for your continued support and belief in Empowa’s mission. Together, we are making a meaningful impact on communities, addressing housing challenges, and contributing to a sustainable future for Africa.
Thank you for your trust and for joining our journey,
The Empowa Team