The world is facing a large-scale unemployment and land distribution problem. While the work that governments and NGOs do to solve these issues is crucial, their capacity is limited. Out of the belief that good-natured entrepreneurship offers a faster, grassroots, more sustainable and empowering route to addressing these issues, Bitprop was founded in early 2019.
By enabling landowners to turn their properties into income-generating assets that have long-term value, individuals can create a reliable pension or inheritance for children using their previously inaccessible land asset. The homeowner provides the land, and Bitprop provides the investment to develop rent-generating apartments, behind the homeowner’s house. By sharing the rental income over a fixed period, the partnership provides the homeowner with an immediate stable revenue stream.
Bitprop’s proof of concept (2019-2020) in Khayelitsha, Cape Town, showed that the model works and can be taken across Africa and beyond.