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Ghanaian couple builds 500 apartments in the country
Ghana’s construction sector records 5.9 % percent growth
14th annual Africa Property Investment Summit to take place in Johannesburg on October 10th and 11th
Ghanaian couple build 500 apartments in the country
A Ghanaian couple, Stephen and Alice Debrah, have a remarkable story that demonstrates the potential for achieving extraordinary success within their homeland. Armed with wisdom, determination, and a shared vision, they embarked on a journey that saw them build over 500 apartments in Ghana without ever leaving their native land.
Stephen, a civil engineer, dedicated tireless hours to various real estate companies in Ghana, working diligently in his field. However, it was his wife, Alice Debrah, who recognized his untapped potential and encouraged him to take the entrepreneurial path. Her unwavering support and vision laid the foundation for their extraordinary journey.
Stephen leveraged his engineering expertise and deep understanding of the real estate market to identify a unique niche: catering to the housing needs of young doctors in Ghana.
He offered them affordable housing solutions and facilitated connections with mortgage banks for financing. This strategic approach led to their first successful project, proving that wisdom and determination could overcome immediate capital limitations.
This initial triumph ignited their remarkable real estate journey, culminating in the establishment of their thriving company, CPO Developers, which constructed over 500 apartments.
Their inspiring story serves as a beacon of hope and motivation for aspiring entrepreneurs in Africa. It underscores the significance of self-belief, persistence, and a steadfast commitment to one’s dreams. Their narrative also highlights the fact that success doesn’t always necessitate leaving one’s homeland, as opportunities often exist right at home, waiting for visionary individuals to seize them.
Ghana’s construction sector records 5.9 % percent growth
According to the Ghana Construction Report 2023, data provided by the Ghana Statistical Service (GSS) reveals significant growth in the construction sector. In both the first and second quarters of 2021, the sector expanded by 14.25% and 12.4% year-on-year, resulting in an impressive average annual growth rate of 5.9% for the entire year.
The outlook for Ghana’s construction sector remains quite positive, with its growth largely attributed to the government’s fiscal plans for infrastructure development. The government’s proactive measures, such as Public-Private Partnership (PPP) initiatives, private investments, and Foreign Direct Investment (FDI) in key sectors like mining, oil, and gas, coupled with the anticipated benefits of the African Continental Free Trade Area (AFCFTA), are positioning Ghana as a prominent market in the region.
Ghana presents a substantial, yet largely untapped, market for affordable housing, commercial buildings, and overall infrastructure development. This untapped potential represents a significant and promising opportunity for both local and international investors and businesses operating within the country’s construction industry.
Regenerate
In other news
The 14th annual Africa Property Investment (API) Summit, including the API Hospitality and API Proptech forums, is set to take place in Johannesburg on October 10th and 11th, 2023.
This prestigious event, known as the continent’s most influential property gathering, serves as a pivotal platform for property dealmaking and insights into Africa’s diverse real estate markets.
The summit is highly regarded as the foremost arena for property dealmaking and insights into Africa’s real estate markets. It attracts investors, developers, and property leaders from more than 25 African and international countries.
Standard Bank is the lead sponsor of the API Summit, emphasizing its commitment to the African real estate sector. The event will host over 550 delegates representing more than 150 companies.
This year’s API Summit theme is “A New Horizon.” It offers tools and insights for real estate leaders to navigate and thrive in a market that has evolved significantly. Success stories, strategies, and growth opportunities will be explored.
In Nigeria
The Cement Producers Association has warned that the ongoing plan of the federal government to introduce concrete roads will raise the price of cement to N9, 000 per bag from the current price of N5, 000.
It also called on the current administration to permanently address the perennial cement price hike problem by facilitating larger participation in the cement industry.
The association, in a statement jointly signed by the National Chairman, Prince David Iweta and National Secretary Chief Reagan Ufomba, commended the works Minister’s position on cement-made roads but warned of dire consequences, if the supply end is not addressed properly.
As a solution, the cement producers urged the government to lay more emphasis on road design that allows both cement technology and asphalt pavement to run concurrently and provide ample time for a smooth transition that allows contractors to invest in commensurate and requisite equipment and retooling.
Source : Africa Home Building News -Joycelyn Marigold