Nairobi, 31st October 2012 – The Government of Ghana has made an additional payment of US$3.14 million on account of the institution’s capital subscription. With this payment, Ghana now becomes the second largest Member State Shareholder of Shelter Afrique with 11.26% shareholding.
Ghana became Shelter Afrique’s 43rd Member State Shareholder in 2011. The increase in capital subscription is a clear demonstration of the country’s support and confidence in Shelter Afrique’s objectives. The institution will leverage on the increased capital base to expand its investments in Ghana and the continent in general.
Within the short time that Ghana has been a shareholder, Shelter Afrique’s Board of Directors has approved investments valued at US$ 17.7 million. Out of this, US$ 4 million will go towards construction of 116 housing units and associated infrastructure while US$ 13.7 million is aimed at mortgage origination which will see over 140 Ghanaian families access long term mortgages. A pipeline of more investment opportunities and housing schemes are currently under review and it is hoped that, upon conclusion, these investments will go a long way in addressing the housing gap evident in the Ghanaian housing market.
Shelter Afrique’s management applauds the support from the People of Ghana.