Thebe Investment Management

What Thebe Investment Management does

Thebe Investment Management is a Lusaka-based, privately held land development and investment company founded in 2014 that builds and operates large-scale urban and rural estates in Zambia. Its portfolio is anchored by Nkwashi, a master-planned private luxury town on the Lusaka plateau designed for over 60,000 residents, and is extended by Protea Hills (a 600-acre countryside estate adjacent to Nkwashi), Luano Farm Block (an agricultural estate near Mkushi), Nyati Wilderness Estate (a wilderness reserve adjacent to Lower Zambezi National Park), the Nkwashi City Savings and Credit Union (a resident financial-services subsidiary), and Carbon Canopy (a 2025-launched climate investment platform partnering with rural communities owning 2.5 million hectares to develop forest-based carbon offset projects).

The company generates revenue through three principal streams: one-time land and property sales within its developed estates (sold via flexible installment payment plans), transaction-based sales of carbon offsets through Carbon Canopy, and professional-services/project fees from co-development partnerships with landowners and local communities. There is no proprietary technology platform disclosed; go-to-market is a direct sales model using in-house sales staff, a free shuttle service for site visits, downloadable brochures, and a content-driven website/blog plus social channels (LinkedIn, Facebook, Instagram). Customer segments are primarily middle-to-upper-income residential buyers and real estate investors (including diaspora buyers using land as a currency hedge), with a secondary segment of rural landowners and communities participating in co-development and carbon projects. The company is founder-controlled (CEO Mwiya Musokotwane) with no disclosed institutional investors, parent entity, or external funding rounds.

Name

Thebe Investment Management

Legal name

Thebe Investment Management

Website

https://thebe-im.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Thebe Investment Management is a privately held Zambian land developer founded in 2014 that builds and operates large-scale residential, agricultural, wilderness, and carbon-offset estates — anchored by the Nkwashi private town — selling titled plots and project partnerships to middle-to-upper-income buyers, investors, and rural communities.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Offices of Real Estate Agents and Brokers (5312), Support Activities for Forestry (1153)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Forestry (800)

akta.pro primary industry

Timberland & Forestry Properties Brokerage (BPAJADAC)

akta.pro secondary industries

Carbon Auctions & Tender Management (Buyer/Seller Programs, RFPs) (EUABADAH), Timberland & Forest Asset Management (IMAMAJAA), Real Assets — Timberland & Forestry (FSAHAIAJ)

Keywords

• Real estate development
• Land development
• Master-planned communities
• Carbon offset projects
• Agricultural estates

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Land and Property Sales: Thebe generates revenue primarily through the sale of land plots and residential properties within their developed estates, including Nkwashi, Protea Hills, Luano Farm Block, and Nyati Wilderness Estate. They offer flexible payment plans to customers, allowing staged payments for land purchases.
2. Carbon Credit Sales: Through Carbon Canopy, the company partners with rural communities to develop forest-based carbon offset projects and sells carbon credits to investors and buyers. The platform identifies project sites, conducts feasibility studies, designs forestry projects, and secures investors and buyers for the resulting carbon offsets.
3. Co-development and Partnership Revenue: Thebe partners with landowners and local communities to co-develop real estate projects, sharing value with all stakeholders. Revenue is generated through project development fees and profit participation arrangements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Thebe Investment Management is a Lusaka-based real estate and land development company that builds, operates, and sells master-planned residential, agricultural, and wilderness estates across Zambia. Its core offerings include titled land plots within large-scale developments such as Nkwashi, Protea Hills, Luano Farm Block, and Nyati Wilderness Estate, sold under flexible installment payment plans. The company also operates Carbon Canopy, a climate investment platform that partners with rural communities to develop forest-based carbon offset projects on over 2.5 million hectares.

Product overview

Thebe Investment Management operates a diversified portfolio of real estate and land development projects in Zambia. The core offerings include Nkwashi, a landmark private luxury town development, and Carbon Canopy, a climate investment platform for forest-based carbon offsets. Supporting projects include Protea Hills countryside estate, Luano Farm Block agricultural estate, Nyati Wilderness Estate, and Nkwashi City Savings and Credit Union. The company uses its balance sheet and partnerships with landowners to build and manage new communities across urban and rural settings.

Differentiator

Problem solved

Functional benefit

Brands

• Nkwashi: Private luxury town development on the edge of Lusaka plateau, master planned to be home to over 60,000 people upon completion. One of the most ambitious mixed-use developments in Africa.
• Carbon Canopy
• Protea Hills
• Luano Farm Block
• Nyati Wilderness Estate

Products and services

• Nkwashi A private town development on the edge of the Lusaka plateau, master planned for over 60,000 residents, offering titled residential and mixed-use land plots with infrastructure and amenities. Targeted at middle to upper-income residential buyers and real estate investors.
• Protea Hills A 600-acre countryside estate adjacent to Nkwashi, functioning as a natural reserve that preserves woodland forest while offering countryside living plots to buyers seeking scenic lifestyle properties.
• Luano Farm Block A large-scale private farming estate in Zambia's central province near Mkushi, offering agricultural land plots in the fertile Luano Valley for buyers seeking farmland investments.
• Nyati Wilderness Estate

Quantifiable outcome

• Portfolio valued at over US$4 billion with 10+ years of operating history since 2014
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• South Pole Group: Global carbon project developer and credit provider with significant African nature-based project portfolio. Directly comparable to Thebe's Carbon Canopy division — feasibility, project design, and credit sale to corporate buyers — though at much larger scale and with established buyer relationships.
• Konza Technopolis Development Authority: Kenyan government-led 5,000-acre planned city south of Nairobi. Comparable to Thebe as a large-scale African mixed-use, master-planned development with phased land sales to investors and operators — though driven by a public authority rather than a private developer.
• Mixta Real Estate (Actis portfolio): Actis-backed African residential and mixed-use developer (Nigeria, Morocco, other markets). Same business model of large-scale African land development with phased plot/unit sales targeting middle-income buyers; comparable to Thebe's Nkwashi and Protea Hills offerings.
• Rendeavour: Pan-African developer of large-scale, master-planned cities (Tatu City, Kigali Innovation City, Jigna). Same business model as Thebe: land acquisition, master planning, infrastructure delivery, and phased plot/unit sales to end users and investors across African markets.
• Jedo Group: Zambian property developer with residential estates in Lusaka. Closest pure Zambia peer to Thebe — same geography, same middle-income residential land buyer segment, same regulatory environment (ZEMA, local councils).
• Tatu City (CPC Group): 5,000-acre master-planned mixed-use city near Nairobi, Kenya — same model as Nkwashi (satellite town with residential, commercial, and industrial zones). Closest direct analog to Thebe's flagship in scale, structure, and target customer (middle-to-upper income African homebuyers and diaspora investors).

Others

• Actis: Emerging-markets private equity firm with a long-standing African real estate strategy (Mixta and other platforms). Not a direct competitor but the dominant institutional capital allocator in Thebe's category, and a likely capital partner or acquirer of relevance.
• Knight Frank (Africa): Global real estate advisory with active African operations across Zambia, Kenya, Nigeria, and other markets. Comparable as a Zambia/Southern Africa real estate intermediary but operates in advisory/brokerage rather than development — useful for understanding pricing and buyer behavior in Thebe's markets.

Emerging players

• Climate Impact X: Singapore-based voluntary carbon exchange with significant African nature-based project listings. Comparable to Carbon Canopy as a market access point for forest-based credits; an emerging venue where Thebe could sell or partner on Carbon Canopy output.

Broad incumbents

• Emaar Properties: UAE-based global mega-developer of master-planned cities (Dubai Downtown, Dubai Hills, Egypt developments). Comparable in master-planning and mixed-use model but operates at vastly larger scale and capitalization than Thebe; not a focused African residential peer but the benchmark for the category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nkwashi.soar
• LinkedInlinkedin.com/company/thebe-im
• Instagraminstagram.com/nkwashi.soar

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thebe Investment Management