Shelter Afrique, Ghana Home Loans sign loan deal
Shelter Afrique (SA), a Nairobi-based Pan-African Housing finance company and Ghana Home Loans yesterday signed a $ five-million agreement to support the delivery of affordable housing in the country.
The facility, to be delivered over the next 10 years, will support Ghana Home Loan’s mortgage operations in the provision of new houses, improvement of already built ones and completion of half-built houses.
Mr Dominic Adu, Chief Executive Officer of the Ghana Home Loans, said the facility will help find solution to building houses for people in the lower end of the market.
“Ghana Home Loans is very passionate about our ambition to make the dream of the average Ghanaian to own their home a reality,” he said, adding that the company has already organised a $100 million long-term funding from world class institutions to invest in the Ghana housing sector.
“The loan from Shelter Afrique, which makes Ghana Home Loans the first Ghanaian institution to benefit from their facilities, is particularly welcoming because it has expanded our universe of funding partners and underlines our thought leadership of the industry,” he said.
Mr Alassane BÂ, Managing Director of Shelter Afrique, said the institution is committed to delivering housing in the country through the support and development of the private sector.
“This facility marks our introduction into the industry and we look forward to working with all…participants to address the acute housing shortage in Ghana,” he said.
Mr BÂ said the team from his outfit is in the country to build partnership with the Government, to erect a pipeline for the project and to understudy the financial environment and market of housing projects.
He said SA is determined to work with government in using public, private partnership approach to effectively implement social housing policies.
Mr BÂ described the role of SA as that of advising governments to build capacity to make success of delivery of housing policies; provide funding and partner governments to deliver affordable housing services to the citizenry.
SA was established in 1982 with the mandate of mobilising resources for housing development in Africa.
The company came into existence against the background of the acute housing shortages prevalent in most African countries and the urgent need for African Governments to pool resources to tackle the problems.
It has served an instrument for the mobilisation of financial and technical resources deployed for funding housing development in Africa.
Source: GNA
Accra, May 17, 2012
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