Africa's construction sector is pivotal to the continent's social and economic growth - providing the appropriate infrastructure that fuels development across urban and rural areas. However, despite its critical role in expanding development across the continent, the industry faces a myriad of challenges that hamper progress and efficiency across all of its levels and by extension, reduce economic growth and development potential across the continent. 

According to Commercium, the African construction industry is expected to grow at a compound annual growth rate (CAGR) of 5.2% between 2021 and 2026. This typically means that where the industry was valued at $104.3 billion in 2020, its value is expected to reach $135.3 billion by 2026. Despite this positive outlook and projection for the billion-dollar industry, the African construction space is still floating on issues ranging from financing hurdles, regulatory and bureaucratic impediments, skill shortages and labour issues as well as issues around material supply, logistics and trust.

Like many issues that exist in other multi-billion-dollar industries, understanding the obstacles in Africa’s construction space is essential for stakeholders aiming to unlock Africa's full construction potential. 

Experiencing first-hand, some of the hurdles faced in Africa’s Construction space led to the emergence of Urbex Africa a trailblazer platform positioned to revolutionise the construction space in Africa. As a forward-thinking entity, Urbex Africa is not entirely about just building structures; it's reshaping the future of construction through innovative practices, sustainability, and inclusivity.

Redefining Construction with Innovation

The motivation to build a platform that addresses these challenges in the constriction space began after Adekunle Adeyeye, CEO and Co-Founder of Urbex Africa, experienced some of the hurdles faced in the construction space personally. However, Urbex didn’t come to light till he connected with his Co-Founder, Akin Thompson at the Abuja Airport in October 2022. The duo began to develop the Urbex Platform from December 2022 till April 2023 before fully launching.

At the heart of Urbex's mission is integrating cutting-edge technologies into the construction process. From utilizing Building Information Modeling (BIM) systems to adopting the latest in sustainable building practices, Urbex aims to set new standards for the industry. The company's commitment to innovation is evident in its Product which seeks to build trust between contractors, project managers and real estate stakeholders. With the Urbex platform, one can monitor the progress of their project(s) from anywhere in the world while also conveniently completing financial commitments upon delivery of the project(s) milestones between the parties involved.

Championing Sustainability

Urbex's approach to construction goes beyond the surface of building structures; it's about creating a sustainable future for the entire continent. Recognising the critical challenges of climate change and environmental degradation, Urbex is at the forefront of green construction practices by incorporating world-standard sustainability practices and working with assigned regulators to get the appropriate framework and permits for each project and client.

Empowering Locals and Improving Labour

Understanding that the construction sector plays a vital role in economic development, Urbex is committed to empowering local communities. By prioritizing the hiring of local labour and sourcing materials from local suppliers, Urbex is contributing to job creation and skills development. Moreover, through its plans for an eConstruction Marketplace, vendors and builders can come together to trade in a safe environment under the Urbex Platform. This not only goes a long way to meet the needs of its clients but also positively impacts the broader construction community.

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Bridging the Infrastructure Gap

Africa's rapid urbanisation comes with a pressing need for infrastructure development. Urbex is responding to this challenge by focusing on projects that bridge the infrastructure gap. From affordable housing solutions to wide-service constructions like roads and bridges, Urbex has been positioned as a pivotal platform in facilitating urban development and enhancing connectivity across the continent.

The Future is Bright

Following its launch in 2023, Urbex continues to break new ground in the construction sector, all the while bootstrapping its way to the position it is now. Its visionary leadership in revolutionising construction practices in Africa offers a promising glimpse into the future. At its current stage, the founders have disclosed its preparation for pre-seed venture funding targeted at maximising Urbex to reach its set goals in revolutionising the construction space in Africa. According to Adekunle Adeyeye, CEO and Co-Founder of Urbex, this funding will go a long way to help the company scale while also making it possible to develop and implement future features like the “Urbex Exchange Scheme” which is targeted at making funding projects seamless from country to country by eliminating some forex bottlenecks one would typically encounter when leading projects in a different country.

With each project, Urbex is not only contributing to the continent's physical infrastructure but also to its socio-economic resilience, increasing Direct Foreign Investments (FDI) for many African countries. As Urbex continues to innovate, the construction space in Africa is set for a transformative journey that promises to elevate standards, empower communities, and pave the way for a sustainable future in Africa.