Fatou (template)
TEMPLATETEMPLATE — This story is a draft. It will be replaced with a real interview.
Fatou returned to Dakar with €45,000 saved, planning to invest in real estate. She bought her first apartment in Almadies using a diaspora mortgage at 7.5% (vs. 1.8% in France). The rental yield covered the mortgage — but only because she'd stress-tested for a 15% vacancy rate. Wave's near-zero transfer fees saved her €1,200/year compared to her original bank-based remittance strategy.
TEMPLATE — This story is a draft. It will be replaced with a real interview.
Fatou returned to Dakar with €45,000 saved, planning to invest in real estate. She bought her first apartment in Almadies using a diaspora mortgage at 7.5% (vs. 1.8% in France). The rental yield covered the mortgage — but only because she'd stress-tested for a 15% vacancy rate. Wave's near-zero transfer fees saved her €1,200/year compared to her original bank-based remittance strategy.
Key numbers
Background
Fatou left Dakar at 28 for a marketing role in Paris. She earned €45,000/year, lived frugally in a shared apartment, and saved 30% of her income. She sent €250/month to her parents in Pikine via her bank, paying 4.5% in combined fees and FX spread.
The decision
After 4 years, Fatou realized that Paris real estate was out of reach (she'd need €400,000+ for a studio), but Dakar real estate was appreciating rapidly. She decided to return, buy a property in Almadies with a diaspora mortgage, rent it out, and build a freelance marketing business.
The numbers
Total savings: €45,000. She switched her remittances from her bank to Wave 6 months before returning — saving €100/month in fees (4.5% → 0.5%). Her apartment in Almadies cost €80,000. She put 25% down (€20,000) and got a 15-year diaspora mortgage at 7.5% from CBAO. Monthly mortgage: ~€470. Rental income: €550/month.
The return
Fatou moved in with her parents in Pikine for the first 4 months while the apartment was being renovated. This saved her €2,400 in temp housing costs. She used the time to register her freelance business and sign her first two clients.
First year reality
The apartment was rented within 3 weeks of listing. But the first tenant left after 6 months (job transfer to Thiès), and it took 2 months to find a replacement. Fatou's stress test of 15% vacancy proved accurate — she had budgeted for 2 months of vacancy per year, and that's exactly what happened. Her dual-income strategy (freelance + rental) gave her stability.
What they'd do differently
"I would have switched to Wave 2 years earlier, not 6 months. I lost roughly €2,400 in unnecessary bank fees over those years. I also would have talked to 3 banks before choosing the diaspora mortgage — CBAO offered 7.5%, but Ecobank had a diaspora product at 6.8% that I didn't discover until after signing."
Lessons learned
Switch to Wave early (Senegal-specific)
Fatou's bank charged 4.5% per transfer. Wave charges near-zero. She lost €2,400 by waiting 2 years to switch. The Remittance Cost calculator quantifies this instantly.
Stress-test for 15% vacancy
Fatou's first tenant left after 6 months. Her 15% vacancy assumption (2 months/year) was exactly right. Without the stress test, she'd have been stressed during the 2-month gap.
Talk to 3 banks before choosing a mortgage
CBAO offered 7.5%, but Ecobank had 6.8%. A 0.7% difference on a 15-year mortgage is roughly €4,000 in saved interest. Shop around.