meQasa Acquires Jumia House GhanaWe are thrilled to announce the first ever acquisition by a MEST company!
Last week, MEST Accra Incubator company meQasa acquired Jumia House Ghana, firmly establishing their property portal as the country’s largest and most trusted platform. Founded in 2013, meQasa has over 450,000 views from over 80,000 visits from property seekers every month, who look at over 25,000 listings by more than 1,200 agents and developers. With the acquisition of Jumia House Ghana, meQasa.com will have over 150,000 visits from property seekers every month.
meQasa is all about their customers. As a housing platform they serve agents, developers, and property seekers. They invested in this opportunity as they believe it will benefit all of their customers. CEO Kelvin Nyame explained, “The reason behind this acquisition is to make sure our customers get more so they can grow their businesses. We are here to listen. We don’t see this as a monopoly, but an opportunity for customers to win and get more for less.”
Over the next few weeks, the meQasa team will be working overtime to make sure that the benefits of this acquisition are felt by their customers as soon as possible. Kelvin is even looking at expanding the team, drawing from Jumia House’s current staff, to help cover customer needs.
Over the past four years, meQasa has slowly been taking over the real estate market in Ghana. However, Nyame is the first to say that the path to success for meQasa has not always been easy. Originally, the team tried to replicate models from more advanced models and found that this just wasn’t working. After going back to the drawing board, they ended up developing a partnership with Fidelity. Through Fidelity’s experience, they were able to learn many key lessons and develop a strong understanding of the Ghanaian real estate market. The Fidelity partnership and the knowledge it brought combined with a clear path of execution and a strong marketing campaign that focuses on both online and offline strategies have helped them grow to become the largest online real estate marketplace in Ghana.
CEO Kelvin Nyame believes there is another factor to the company’s success: “MEST played a very fundamental and crucial role.” During the team’s time at the MEST training program, Nyame believes they were not only given the foundation to build a successful business, but also the seed funding and support to start that business.
When asked if he had any advice for early stage startups, Kelvin told us, “Keep pushing. Model and execute quickly. If it doesn’t work, go back to the drawing board. Don’t feel attached to one particular model.” He also encouraged entrepreneurs to learn from other similar markets, such as South Africa and several in Asia.
The future certainly looks bright for meQasa and their customers. Kelvin described his hopes of expansion: “In the next couple of years, we want to continue to improve. There is no stopping point. We want to make sure we expand beyond the city, especially.”
Congratulations to the meQasa team on this milestone! Follow their journey on Facebook and Twitter.
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Due to COVID-19, MEST postpones training program to next year and doubles down on growing portfolio companies
At MEST, we continue to be deeply concerned about COVID-19 and have been closely monitoring developments locally and globally. Our number one priority remains the health and safety of our community and we will continue to follow local authority and health official guidelines.
Due to the ongoing nature of the pandemic and the uncertainty that the future of travel holds, we have been unable to conduct in-person interviews and host recruitment around Africa for our next cohort. For this reason, we have taken the decision to postpone the Training Program to next year.
While these circumstances are indeed unfortunate, we see this as an exciting opportunity at MEST to double down on providing support and mentorship to our existing portfolio companies and the African ecosystem.
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