Africa’s nascent proptech sector has begun attracting global attention, a key indicator that the continent’s property market is poised for growth.

Prominent African proptech startup, Spleet Africa, has joined proptech accelerator, MetaProp Accelerator which will provide the Nigerian startup with improved access to expansion funds. In June, Seso Global, another Nigerian prop-tech startup, raised 600,000 US dollars in a pre-seed funding round to build on its strong initial traction and challenge Salesforce in property management in emerging markets.

Spleet Africa is looking to offer “hassle-free” property listings and bridge trust issues between landlords and tenants.

“Joining the accelerator is a catalyst towards achieving the company’s goals and further driving its value proposition as well as opening up new opportunities for the growing proptech startup ecosystem in West Africa,” said Spleet’s Chief Executive Officer, Adetola Adesanmi.

The funding from Metaprop will enable Spleet to grow its presence, initially in Ghana and Kenya and later on in other African markets.

Metaprop co-founder and partner, Zachary Aarons, believes proptech will most likely be the next wave in Africa after fintech.

“The Nigerian fintech ecosystem has been absolutely on fire recently. Guess what usually follows fintech? It’s proptech. I have spoken to two high-quality Lagos based proptech companies in the past week alone,” Aarons said in a statement.

Knight Frank Africa’s Report 2020-2021 shows that in 2016, global investment in proptech hit 12 billion US dollars, up from 20 million US dollars in 2008, with an estimated 4.6 billion US dollars invested in proptech in the first six months of 2019.

While proptech companies in Africa currently only account for 1% of the global market, the continent’s technology ecosystem is among the fastest-growing in the world, according to the report.

During the COVID-19 pandemic, real estate developers in Africa have been adopting advanced technology mechanisms to optimize operations, restore customer confidence and improve their sales.

In Kenya, a low-cost housing developer, Mizizi Africa Homes, recently launched a WhatsApp Chatbot to enhance the ability of customers to match their affordable dream-house searches remotely.

The developer said it leverages cutting-edge artificial intelligence to allow customers to interact directly with the company’s projects and access services across different parts of the country with minimal in-person interactions.