ACCRA, Ghana 18th January 2012. – Shelter Afrique, a Nairobi based pan-African housing finance company and Ghana Home Loans signed a $5 million Facility Agreement to support Ghana Home Loans’ mortgage lending operations in Ghana.
Shelter Afrique, majority owned by the African Development Bank, uses its distinct presence and competitive advantage to create value added products to enhance the development of the real estate sector with a view to improving the living environment and facilitating the achievement of the goal of housing for all.
Ghana Home Loans, is the market leader in mortgages and the only specialist home finance company in Ghana. Established in 2006 by three Ghanaian promoters and a team of world class financial institutions, the company has already provided financing of over $70m for the acquisition, construction and improvement of homes across Ghana.
“Supporting the development of a vibrant real estate sector in Ghana is a key priority of Shelter Afrique. This facility marks our introduction into the industry and we look forward to working with all its participants to address the acute housing shortage in Ghana” said Mr. Alassane Bá Managing Director of Shelter Afrique. “In Ghana Home Loans we found a natural partner in Ghana.”
Commenting on the transaction, the CEO of Ghana Home Loans, Mr. Dominic Adu, said he is excited by this pioneering facility from Shelter Afrique. “Ghana Home Loans is very passionate about our ambition to make the dream of the average Ghanaian to own their home a reality. In pursuit of this ambition we have already marshaled over $100m of 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. We, at Ghana Home Loans, look forward to an excellent relationship with Shelter Afrique.