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Gov’t secures $50 million for the construction of a new International Terminal for Tamale Airport

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new International Terminal for Tamale Airport

Gov’t secures $50 million for the construction of a new International Terminal for Tamale Airport

The new International Terminal for Tamale Airport, the Bekwai Hospital project, and the Kumasi Central Market are all set to receive funding to either undergo a major expansion, construction or facilitate the installation of essential equipment as part of the UK government’s partnership agreements with the Government of Ghana.

The Government of the United Kingdom has pledged funds to undertake three major infrastructure projects in Ghana this year.

The UK’s Minister for Africa, Hon Harriet Baldwin, announced the funding support on Tuesday, 26 February 2019 at the end of the second UK-Ghana Business Council (UKGBC) Meetings held in London, UK.

The meetings, co-chaired by Mrs. Baldwin and the Vice President of the Republic, Dr. Mahamudu Bawumia, brought together Ministers and other government officials from both countries as well as captains of industry to deliberate on ways to deepen business and other ties between the two countries.

“We will be backing the modernization of Kumasi Central Market with a total of 80 million Euros in support of this major trading centre. It’s visited by over 800,000 people every day and it will see upgrades of its electrical networks, its water supplies, it’s generators, its fire detection systems and it’s public transport,” Mrs. Baldwin announced.

“Second, we will be backing the expansion of Tamale Airport which will include the construction of a modern, new International terminal building. It’s a $56 million US loan which will enable the airport’s expansion to improve tourist access and promote economic growth as well as benefiting Hajj pilgrims with a new multi-purpose facility.

“And the third project we’re backing is in completing Bekwai hospital. Led by the Eurofinsa Group and insurance firm Ellipse UK, UKEF (UK Export Finance)’s guarantee of a 20 million euro loan will support every aspect of the hospital’s construction which will include 120 new beds, an Emergency Department, a Maternity Ward and an Operating Theatre,” she disclosed.

The announcements, Mrs. Baldwin said, was “just a flavour of some of the amazing announcements that have come through as a result of this UK-Ghana Business Council meeting”, adding, “it’s something we’re committed to doing with a 6 months frequency in terms of taking this agenda forward.”

The overarching goal of the UKGBC is to match as closely as possible Ghana’s needs with UK expertise, financing and private sector support. The London meetings explored new strategies and opportunities to enhance trade and investment between the two countries.

The UK-Ghana Business Council will next meet at Accra in October this year.

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Shelter Afrique receives USD2.7million capital boost from Tanzania

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Shelter Afrique Group MD and CEO And

The Government of Tanzania has increased its stake in Shelter Afrique after paying USD2.7 million in additional capital, the pan-African housing development financier has disclosed.

The Additional stake now takes Tanzania’s shareholding to 1.54% up from 0.3% held previously.

Effectively, the contribution now reduces ownership of the top three shareholders with Kenya’s, Nigeria’s and African Development Bank’s shareholdings now standing at 17.78%, 13.27% and 12.83%, respectively.

Thanking the Government of the United Republic of Tanzania, Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah said it was gratifying to see the unwavering support and renewed confidence by shareholders.

“We thank the government of Tanzania for choosing to increase her stake in Shelter Afrique despite the prevailing condition, and in particular the Ministers for Housing and finance Honourable William Lukuvi and Honourable Mwigulu Nchemba for making the disbursements – It’s a vote of confidence in the Company. We are also grateful to other shareholders who have increased their stakes recently,” Mr. Chimphondah said.

In addition to Tanzania’s contribution the Company has also received additional capital contributions from Kenya (USD 9.92m), Cameroon (USD 3,529,801.29) Mali (USD 2,062,994), Rwanda (USD 1.1m), Uganda (USD 0.08m), Togo (USD 0.58m), Swaziland (USD 0.32m), Ivory Coast (USD 0.57m), and Democratic Republic of Congo (USD 0.5m), bringing the total additional capital receipts to $20.69m within the last six months of 2021.

“We also wish to thank several other shareholders such as Namibia, Zimbabwe Morocco, and Swaziland, Cameroon, Kenya, DRC, Mali, Ivory Coast, Uganda, Rwanda and Togo for their positive response to the call for recapitalization, this continues to show confidence in the strategy of The Company” Mr. Chimphondah said.

Shelter Afrique has approved financing of more than USD 52,246,000 in Tanzania. The Company invested equity into the Tanzania Mortgage Refinance Company (TMRC) in 2014 and has remained an active member. The Company is actively pursuing large-scale low-cost housing projects in both Dodoma and Zanzibar through public private partnerships and the provision of lines of credit.

In August of 2021, Shelter Afrique through its Centre of Excellence, at the invitation of the Revolutionary Government of Zanzibar held a masterclass session for government officials to deepen capacity within the industry. Similar conversations are being held to hold another one in Dodoma as well before the end of the year.

In the same period, Shelter Afrique, as part of its ongoing engagement with Tanzania, led a high-level delegation to meet with the Minister of Lands, Housing and Human Settlements, Honourable William Lukuvi, and Ministry officials where discussions were held on the provision of land for projects featuring innovation and alternative building materials. The Minister committed to the provision of 50 acres of land in Dar-es-Salam where an annual event showcasing the improvements and breakthroughs in the building sciences can be exhibited. Shelter Afrique on its part has committed to developing the concept and will explore the possibility of hosting the first event in 2022.

 


BY: Shelter Afrique

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McDan CEO Buys A Private Jet

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McDan CEO Buys A Private Jet

McDan CEO Buys A Private Jet

  • The owner of McDan Group of companies has bought a new Private Jet for his personal use
  • Mr. Daniel McKorley is the owner of McDan Group of Companies.
  • He holds Executive MBA in Entrepreneurship from GIMPA

The CEO of McDan Group of Companies, Mr. Daniel McKorley has become the first business mogul to purchase a new luxurious private jet for his personal use.

In 2019, McDan obtained the license to operate and manage the executive lounge for private jets in Ghana.

This formed part of government’s effort to change the face of aviation in the country. McDan and his company became the first in Ghana to have obtained such a license to operate private jets in the country.

He now manages and operates an executive lounge for private jets at the terminal 1 (T1) of the Kotoka International Airport (KIA).

CEO of McDan Group of Companies, Mr. Daniel McKorley

CEO of McDan Group of Companies, Mr. Daniel McKorley

Henceforth, travelers are spoilt with the choice of a secure and private alternative to the airport’s main terminal kind courtesy McDan Group of Companies.

The company will further offer a range of services for private jet customers, aircraft and crew.

Professor Kofi Abotsi tweeted the video the luxurious private jet and viewers took turns in commenting and admiring the effort of the businessman.

 

Daniel McKorley is a Ghanaian business magnate, Founder and Chief Executive Officer of McDan Group of Companies.

He started the McDan Shipping Company which was established in November 1999, with headquarters in Accra, Ghana.

He holds Executive Masters in Business Administration (EMBA) and a Certificate degree in Entrepreneurship both from the Ghana Institute of Management and Public Administration (GIMPA).

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“Prang 1D1F Starch Factory A Dream Come True For Me” – Prang Chief Hails President Akufo-Addo

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“Prang 1D1F Starch Factory A Dream Come True For Me” – Prang Chief Hails President Akufo-Addo

  • Nana Kwadwo Nyarko III is the Paramount Chief of Prang Traditional Area.
  • Prang is located in the Pru West District of the Bono East Region.
  • Prang is lucky to have a gigantic Starch Processing Factory being established there under the 1-District 1-Factory Initiative.

The Paramount Chief of the Prang Traditional Area in the Pru West District of the Bono East Region, Nana Kwadwo Nyarko III, has expressed his gratitude to the President of the Republic, Nana Addo Dankwa Akufo-Addo, for establishing a starch processing factory in his district under the “One District, One Factory” initiative.

In his speech, following the President’s visit to his palace, on Sunday, 8th August 2021, at the commencement of his 2-day working visit to the Bono East Region, Nana Kwadwo Nyarko III expressed his profound joy and appreciation to the President for the establishment of the factory.

According to the Chief, “Pru West District is a proud host of a gigantic starch processing factory that we are confident that very soon you will be back with us again to commission. Personally, I feel proud and privileged to see such a project in my lifetime.”

Nana Kwadwo Nyarko III continued, “Since ascending the throne, as the Paramount Chief of Prang, it has been my desire to attract industries and companies to my area, which would become my legacy by posterity. Lo and behold, Mr. President, now I can say that this long-burning desire and dream has become a reality in my lifetime. The youth will be employed and hopefully vices will reduce.”

The Paramount Chief also thanked the President for solving their perennial water shortages that have plagued the Traditional Area.

“Mr. President, as part of improving the perennial water shortage that was a nightmare in Prang, you have successfully constructed the Prang Small Town Pipe Water System Project. The people of Prang now have running water in their homes, all year round” he said.

He also indicated that several mechanized boreholes and hand pumps have also been constructed across the district, supplying potable water to the people in Pru West.

The chief was also full of praises for President Akufo-Addo for ensuring that, under his government, “Pru West District has witnessed historic developments across the district. These include all the governmental flagship programmes; first under your able leadership, Pru West constituency was made a district on 15th March, 2018. This was after several years of failed attempts. It was a dream come true for us” he stressed.

Touching on agriculture, the Paramount Chief noted that the Pru West District has received two farm tractors and other farm implements, and has started an Agriculture Mechanization Centre, which is helping farmers plough their fields at subsidised rates.

“Mr. President, with the free SHS education program, Planting for Food and Jobs and Planting for Exports and Rural Development, my people who are mostly farmers are grateful to you”, he added.

Thanking President Akufo-Addo for the citing of an office of a state institution in the district, the Prang Chief stated that “we are grateful, once more, that you were generous to make Pru West District the host of an ultra-modern regional office of the Department of Feeder Roads. The construction of the two-story office complex is fully completed and we understand that you are here today to commission it. We say thank you, and God bless you.”

On the fight against COVID-19, he congratulated the President on the “remarkable leadership” shown in the battle to defeat the disease.

“It is without doubt your industrious leadership efforts and abilities have earned you the Chairmanship of ECOWAS, and, I must say through your dedication and commitment to duty, we shall defeat the pandemic. This too shall pass”, he stressed.

With the pandemic having ravaged even the most resourced countries, Omanhene Kwadwo Nyarko III said, “we are certainly very fortunate that Ghana has you as our President and leader in these very trying times.”

Acknowledging the inclusion of the Pru West district as a beneficiary of the “Agenda 111”, in which a district hospital will be constructed for the area, he indicated that, “a team of consultants from Accra have already visited the site to undertake an assessment of the land provided for the construction of the district hospital. I know we soon be commissioning the district hospital and will no longer have to travel to Atebubu or Mampong to access healthcare.”

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