July 13, 2017 (Toronto) – Axilogic announced today that it has officially launched a valuation Proof of Concept (POC) in the West African country of Sierra Leone, in collaboration with the Municipal Property Assessment Corporation (MPAC).
Selected cities and district councils in Sierra Leone have been conducting property identification, classification, valuation and taxation since approximately 2006. Notwithstanding Sierra Leone’s status as a developing nation with significant poverty present (2017 nominal per capita GDP of $623, versus $43,631 for Canada), the country provides Axilogic with a strong opportunity to showcase how we can produce significant social, economic and human development impacts in Africa. In undertaking this project, Sierra Leone seeks to improve property inventory quality, enhance tax equity, improve compliance with the property taxation regime and enhance tax yield to fund municipal services.
While the POC will be implemented in Sierra Leone’s fifth largest city (Makeni) and be designed to produce property valuations and tax statements for their annual assessment by December 2017, the broader opportunity after a successful POC is to create a national valuation structure for the entire country of 7 million people including its largest city, Freetown. For the POC, Axilogic and MPAC have teamed up to use the patented VaaS ecosystem.
This POC will be implemented using a 100-day Rapid Results Approach (RRA) framework which will end on October 20, 2017,