Tech boom in Nigeria boosting demand for rooms and creating new businesses


Nigeria’s rapidly expanding tech scene is creating opportunities in other sectors such as hospitality where soaring demand means hotel prices are among the top five in the world according to travel experts Hogg Robinson.

To meet this demand Emerging Crowd, the crowdfunding platform for emerging and frontier markets investments has launched a brand new equity investment opportunity in Amara Suites, West Africa’s premier serviced apartment platform.

As previously reported Emerging Crowd is the brainchild of Co-Founders Lucien Moolenaar and Will Tindall and aims to link ambitious, well-run companies seeking finance with international investors pursuing the potential of higher returns from some of the world’s fastest growing markets.

Many small and medium-sized businesses around the world find themselves in a ‘funding gap’, where banks and private equity firms have failed to provide much needed financing for growth. Emerging Crowd offers qualifying businesses an alternative financing solution using state of the art crowdfunding technology.

Amara is raising £1 million in order to scale up the platform and expand its brand presence in Lagos and in other cities throughout Nigeria. Their premium service is competitive with five-star business hotels, and their client base includes business travellers from several Global Fortune 100 companies and other major multinational firms. Amara has also built partnerships with some of the key players in the global serviced apartment industry. Industry giants such as Oakwood, BridgeStreet, SilverDoor, and Synergy, trust Amara with their own clients and referrals.

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Amara currently operates 78 luxury apartments in prime locations throughout Lagos, Nigeria, at the heart of Africa’s largest economy. Ranked #1 on TripAdvisor, Amara offers modern, comfortable, well-appointed and cost-effective serviced apartments with five-star amenities (trained cooks, uninterrupted power, housekeeping and laundry, security, grocery provisions, drivers, and premium concierge services) that are ideal for medium to longer-stays.

“Having already proven its ability to execute, it is now able to sign apartment management contracts with landlords, allowing it to split the occupancy risk through a revenue-sharing model. This allows the company to leverage its fixed assets and marketing platform more efficiently and provide a lower-risk model that can be implemented quickly throughout other Nigerian markets and across Africa” explains Co-Founder of Emerging Crowd, Will Tindall.

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