Property Technology Uganda to support local innovations in the Built Environment Sector
Proptech Uganda (Property Technology Uganda) is set to support the different built environment innovations in Uganda contributing to the entire Built environment sector in the country.
Uganda is the third country in Africa supporting the initiative after Proptech South Africa and Proptech Nigeria with Proptech Kenya, Rwanda and Namibia in the pipeline. This is driven by the number of various property related innovations contributing to the sector with some disrupting business operations. Additionally, the emergence of global Proptechs in almost the entire developed world and emerging economies has highlighted the importance of leveraging technological innovations in the sector to create business value.
Now is the right time for Uganda to embrace a regional local Proptech platform that has been highly dominated by South Africa and Nigeria. These are the only economies in the region that have embraced the emergence and adoption of technological innovations and gone further to enjoy representation at the global property technology forums such Future Proptech (London), the biggest global rotational construction fair Bauma (Munich) and the global real estate finance and asset management innovation forum MIPM Proptech (Cannes). All these forums took place this year with limited involvement of regional and local built environment stakeholders despite global collaborative partnership platforms. Therefore, the timely presence of Proptech Uganda enables built environment innovators in all verticals from building and construction to commercial real estate to leverage local support to scale and pitch their innovations at regional and the global stage through the established partnerships.
A local property technology frontier also acts as a gateway and channel for a wealthy inflow of technology use cases, favoring technology shift and transfer. Ugandan innovators can benchmark and conceptualize on these global use cases to innovate local cognitive solution for built environment related challenges.
Interestingly, nearly all the Sustainable Development Goals (SDGs) contain a built environment component not limited to responsible land management towards fighting poverty and hunger, solving housing related challenges or achieving sustainable cities and communities through smart city initiatives. To achieve these even after the target year, we need to leverage the benefits of technology to innovate local solutions and create value in the sector need to be leveraged.