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South Africa’s first ever blockchain-based property register pilot

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The pilot study area consists of almost 1 000 properties located in four sites in Makhaza, Khayelitsha

CAPE TOWN, South Africa, November 6, 2019- The Centre for Affordable Housing Finance in Africa (CAHF), research consultancy 71point4 and Seso Global have partnered to develop South Africa’s first blockchain-based property register. The pilot study area consists of almost 1 000 properties located in four sites in Makhaza, Khayelitsha. All the properties are Government subsidised properties that have not yet been registered on Deeds Registry.

According to Daniel Bloch, the CEO of Seso Global, a blockchain property registry company, this will be the first working example of a blockchain-based property registry in South Africa. Aside from creating an immutable record of who owns which house, the Seso platform facilitates and records transactions such as sales and transfers out of deceased estates and integrates with third parties who facilitate transactions, including mortgage lenders. “For the time being, property owners will record these transactions at the Transaction Support Centre, a walk-in housing advice office created by CAHF and 71point4 located in the area. But over time, we will record transactions through the Seso app” says Bloch.

The benefit of the blockchain solution is that it allows the data to be stored in a decentralised, secure database that can be updated without any loss of historic data. This means there is a secure, back-to-back record of all transactions that is completely tamper-poof. Eventually the vision would be to integrate this record into the Deeds Registry when other impediments to transfer have been removed.

South Africa has a serious titling problem. According to Kecia Rust, the CEO of CAHF, the government has built over three million RDP houses since democracy. But CAHF’s analysis of deeds office data indicates that only 1.9 million of these properties have been registered. The National Department of Human Settlements, Water and Sanitation (NDHSWS) estimates that the title deed backlog for RDP properties built prior to 2014 currently stands at 511 752. These properties were given to beneficiaries, but no title deeds were registered and handed over. At the same time, there is a backlog of 351 470 title deeds on newer properties.

Registering these properties so long after they were built and handed over to subsidy beneficiaries is an administratively complex task. In some cases, original subsidy beneficiaries are no longer living in the properties. Some beneficiaries might have passed away, some might have tenants in their properties while others have sold their houses informally.

“To create a register of property owners we first had to go door to door to find out who lives in each property and to establish how they came to be there” says Melzer, founder and lead consultant at 71point4. “We hired a team of 17 enumerators and trained them to collect information and capture supporting documents. Thankfully we can leverage smart phone to collect the data, but it still requires a significant effort. It took us two months to cover these areas.”

But the effort is well worth it. Properties in the area sell for over R200 000 informally – and would sell for more if they were listed on a trusted registry and were ‘bankable’. This would enable buyers to obtain mortgage finance and create affordability. Without access to mortgages, buyers have to pay cash for a house, or use an expensive unsecured loan. There are also significant benefits to the City of Cape Town of being able to access an accurate and up-to-date record of property ownership. Without it, the City cannot collect revenue from households in the area who are not indigent nor can City departments facilitate building plan approvals.

Next steps

In many cases in the pilot areas, the original beneficiary is still living in the property. “We hope that these properties can be registered in the deeds registry within a few months, and we are working closely with the City of Cape Town to facilitate that” says Melzer. “Where the beneficiary no longer lives in the property, we are in the process of tracing the beneficiary to confirm information we have gathered on who owns the property. We will also be working closely with the City on a resolution process where ownership is disputed.”



It will take some time before all the required information has been collected and validated. It will also take time for validated properties to be registered on the deeds registry.  In the meantime, we will enable property owners and occupants to keep those records up to date.

“We will also be using Seso’s platform to manage other client service requests that come to the Transaction Support Centre from all over Cape Town” says Rust. “These include helping clients to regularise informal sales and wind up deceased estates. Going forward, as the country moves towards an electronic deeds registry, we hope the lessons we have learned will provide valuable evidence to inform the development of accessible, secure, affordable and efficient mechanisms to facilitate property market transactions. This is important across the market, but particularly in entry level segments of the market where existing mechanisms are simply too costly”.

CAHF, Seso Global and 71point4 have a working agreement to extend this pilot into other areas and use cases. There are hundreds of thousands of RDP properties around the country where no primary transfer has taken place. In addition, in many areas where title deeds were issued, property owners have transacted informally, which means there is no longer an accurate record of ownership at the deeds registry. Blockchain-based solutions can help there too.

Also Read: Meet Mariatheresa S. Kadushi, Founder of M-afya, A Mobile App Providing Health Information In Native Languages In Africa

Blockchain can also enable households who live in informal settlements and rural areas to record and maintain land records and secure their rights. “We are very pleased with the pilot results. We think the solution we have developed is scalable, and replicable” says Bloch. That does not mean it is easy but, says Melzer “blockchain technology together the potential value we can unlock makes it worthwhile”.

Affordable Housing Finance in Africa (CAHF).

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Press Release

Social media main enabler for growth among women-owned businesses

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95% of women SMEs in the region identify social media channels as the top tool to drive their business ventures

Mastercard, the Official Payment Technology Partner of Expo 2020 Dubai, and Female Fusion Network unveiled new research at the first in a series of workshops for the region’s female entrepreneurs at the world’s largest cultural gathering.

Held at Expo 2020 Dubai’s Women’s Pavilion, in collaboration with Cartier, the session focused on the power of the digital economy in enabling women-owned businesses to go online. In a study conducted among Female Fusion’s network of 20,000+ members across the region, it was revealed that 95% of women SMEs in the region identify social media channels as the top tool for their business ventures. Other channels include their own e-commerce websites (72%) as well as messaging services such as Facebook and Whatsapp (50%).

In addition, three out of four (72%) women-owned businesses said they rely on word of mouth to market their products and services. The workshop identified how SMEs can make the most of their online footprint, and better connect to their consumers in a digital economy.

Speakers included Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard, Sarah Beydoun, Founder and Creative Director of social impact fashion business Sarah’s Bag in Lebanon, Ioanna Angelidaki, co-founder of Instashop, and Maureen Hall, Founder and CEO of COÉGA Sunwear.

“The findings from the study indicate a clear need for further education and empowerment. Mastercard has long pushed for the success and growth of women as we break gender barriers around the world. Digital tools and technologies are the greatest equalizer for businesses and as the shift towards e-commerce becomes increasingly permanent, we are committed to helping women businesses go digital and grow digital as they pursue their entrepreneurial passions,” said Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard.

The recent unveiling of the inaugural Mastercard MEA SME Confidence Index also revealed that in terms of a digital footprint of the region’s women entrepreneurs, social media (71%) leads the way followed by a company website (57%).

“We are proud of the successful launch of our workshop series in partnership with Mastercard. As a growing community of ambitious women leaders, Female Fusion Network looks to support our members with access to platforms that offer simple yet effective takeaways for them to grow their business. We look forward to having more of these impactful sessions during Expo 2020 Dubai,” said Jennifer Blandos, Managing Partner, Female Fusion Network.

Mastercard has made a global commitment to connect 25 million women entrepreneurs to the digital economy by 2025 as part of its goal to build a more sustainable and inclusive world. As part of its efforts, the technology leader recently launched  ‘The Entrepreneur’s Odyssey’ a first-of-its kind digital education platform that brings together a range of world-class academic and business resources to help small businesses learn and thrive.

 

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AOC dazzles visitors with a special game room at GITEX Technology 2021

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AOC Sales Director Middle East & Africa, Carol Ann Dias (Image: Hazem Abed)

AOC, the world’s leading manufacturer of computer monitors, highlights its presence at GITEX Technology Week 2021 through their authorized distributor, Hiperdist. At GITEX, AOC is showcasing a special game room where visitors can get try out the latest lineup of gaming monitors, some of which are made for professional e-gamers.

“Being one of the largest information technology exhibitions not just in the region but the whole world, AOC would not want to miss the opportunity to participate at GITEX 2021,” said Carol Ann Dias, Sales Director Middle East & Africa at AOC. “More than making our presence felt at the show, we are now focusing on emerging markets which is why we have partnered with Hiperdist due to their strong presence in the MEA region,” she added.

Some of AOC’s well-known monitors that include the Agon and the G2 line up are all on display at GITEX. Where visitors are encouraged to try out the new displays that offer some of the best technologies that make it fit for the gaming crowd.

Already a top choice by gaming professionals, the AGON AG352UCG6 features a 35-inch display with a 120HZ refresh rate. The curved design supports a WQHD (3440 x 1440) resolution that has 2.4x more pixels than a standard widescreen monitor. It also features a lighting panel at its rear which can be customized in colours of red, green or blue.

Also on display is the AOC C27G2 gaming monitor that comes in a 27-inch size with a 165Hz refresh rate. There’s also a 1ms response time for more accurate play. And Freesync support so high-intensity games are razor-sharp without ghosting.

Visitors can join and experience AOC monitors at the Hiperdist stand in Hall 3 E1 at GITEX Technology Week in the Dubai World Trade Centre.

 

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Philips Introduces Momentum 559M1RYV 4K HDR display with Ambiglow for Xbox

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Philips 55 lifestyle in situ Xbox (Image: Supplied)

MMD, the leading display specialist and brand license partner for Philips monitors, today announced the release of the world’s first designed for Xbox console gaming monitor. Philips Momentum 559M1RYV featuring 55-inch panel size boosting 3840×2160 resolution with 4K / 144Hz, 4ms GTG response time, and many other features that will be available in the UAE, Saudi Arabia, Kuwait and Pakistan.

4K HDR display with Ambiglow 559M1RYV/01 | Philips

Philips Momentum 559M1RYV: Design and Sound

This new “Philips Momentum 559M1RYV” bears the name Momentum 559M1RYV and bears the same exterior appearance as the previous version, including the adoption of a VA LCD panel with a W-LED backlight system with Ambiglow technology that adds a new dimension to your viewing experience. Innovative Ambiglow technology creates an aura of light on the surrounding wall from behind the screen panel. Its fast processor analyzes the content of the displayed image, and continuously adapts the color and brightness of the emitted light to match the displayed image. This technology also helps reduce eye strain to enjoy the scenes, it also supports DisplayHDR 1000 standard. The gaming monitor includes a specially designed speaker enclosure from the engineers at Bowers & Wilkins, the British loudspeaker company globally renowned for their innovative designs and sound engineering, that completes the experience.

Pankaj Budhiraja, Category Manager – Philips Monitor – Middle East & Africa, said: “The new Philips Momentum monitor offers unique user experience especially for gamers who demand exceptional graphic quality display and flicker-free pictures. This monitor is a wholesome entertainment package with build-in stereophonic speakers, sharp picture quality, vibrant colors and dynamic contrast and excellent resolution”.

Philips Momentum 559M1RYV: Performance

Philips Momentum 559M1RYV including Displayport 1.4, a USB-B port along with 4 USB 3.2 ports, two of them with fast charging. The Philips Momentum Monitor delivers designed for Xbox validates performance with ultra-clera 4K resolution at a minimum 120Hz refresh rate. 3840×2160 pixels with a 16:9 aspect ratio and a good response time of 4ms, as for the brightness rate in the mode up to 750cd / m2, while in the HDR mode it reaches 1200cd / m2. As for the color weight, we will notice that it offers DCI-P3 color gamut with 95% coverage, NTSC color gamut with 104% coverage, and sRGB with 125% coverage.

“As Philips always prioritizes user health, we introduce Ambiglow technology for eye-friendly productivity and a premium sound system. The monitor been extensively tested, and validated by engineers at Microsoft and MMD to ensure perfect compatibility, Philips Momentum meet’s the high expectations of the Xbox fans, creating an integrated gaming atmosphere to enjoy.” Budhiraja added.

Key features for Philips Momentum 559M1RYV:

  • Screen size: 55-inch
  • Resolution: 3840 x 2160 UHD 4K
  • Panel type: VA
  • Refresh rate: 120Hz (HDMI 2.1); 144Hz (DisplayPort 1.4)
  • Response time: 4ms
  • Aspect ratio: 16:9
  • V-Sync method: Adaptive Sync
  • Contrast ratio: 4,000:1
  • Ports: HDMI 2.1 (x3), DisplayPort 1.4 (x1), USB-C (x1), USB-B (x1), USB 3.2 (x4)
  • Ambiglow: 3-sided
  • Power supply: Internal, 100-240VAC, 50-60Hz

 The Philips Momentum 559M1RYV monitor is available through MMD authorised distributors in the UAE, Saudi Arabia, Kuwait and Pakistan and comes with a standard 3-year warranty, and EUP in UAE AED 6999*.

 

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