I own no real estate in Africa...
Why?
The protection, offered by the law, of one's property in Africa is almost non-existent. If the laws are there, the courts or enforcers are lazy, corrupt, powerless or do not care.
Kenya is an example where kamau wa ngengi (aka jomo "land-grabber' kenyatta) and his family acquired huge chunks of the best land through theft. Many of the victims were law-abiding citizens who had bought their land. kamau who became senile in the early 70s still dreamed of acquiring more land even in his senility.
Zimbabwe is another example where for all the inequities, there were many who lost their land. Of course, the land was 'taken' to benefit the majority but given to mugabe's whores & cronies. Senile is too kind a word for mugabe. Why don't the Zimbabweans just assasinate him?
Tanzania nationalised the farms to catastrophic results.
Uganda's idi 'idiot' amin kicked out the Ugandan Asians, grabbed their properties without due process and coz he had some dream that he had.
Rwanda saw bloodshed with over 1mn deaths. All for 'land'.
Kenya has had land clashes over the years but it reached new heights in early 2008.
Anyway, I was watching a video on KenyanEntrepreneur's site... the house was being demolished... and it sorta explains why I rent...
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Rants, Raves & Reviews
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Real Estate in Africa - Very Risky Posted: August 26th, 2008, 3:06pm EDT