Verdant Ventures to commission 106-unit diplomatic estate in Accra
Verdant Ventures (“VV”) has entered into a strategic partnership with Ghanaian developer Dara Salam Group (“DSG”) to launch a high-end diplomatic residential project, targeted to start in February 2023.
The project will see the construction of 106 world-class units comprising two, three and four-bedroomed apartments and penthouses built to international, seismic and diplomatic standards.
Located in the diplomatic blue zone of Accra and adjacent to Independence Avenue, the state-of-the-art project will feature bespoke amenities and facilities suitable for diplomatic and high-end corporate tenants who require international standards of seismic compliance, fire and life safety in a community environment.
The conveniently located site is in close proximity to malls, restaurants, hospitals, diplomatic missions and the airport.
Verdant Ventures, a US-based real estate development company specializing in diplomatic and corporate accommodation development in Africa has recently completed two similar projects in Ethiopia and Kenya.
The Ethiopian development comprises a 112-unit residential tower located in the Gulele area of Addis Ababa. The Kenyan project consists of a 90-unit development with extensive amenities, and was awarded “Best High End Residential Development” at the API summit in September 2022. Both are anchor tenanted by the US Government through its Overseas Building Operations (OBO).
“Ghana is one of the fastest growing economies in Africa and provides attractive opportunities for investors and international organizations. We are honored to partner with Dara Salam Group to develop this landmark project that will offer the highest level of accommodation in Accra and support the country’s pole position as an international hub for corporates and diplomatic engagements,” said Tim Redman, CEO of Verdant Ventures.
“DSG is proud of partnering with Verdant Ventures to offer this exceptional project to the Accra market. Verdant Ventures’ track record of developing and delivering two similar projects on the continent gives us much confidence in our partnership and our vision to create international-class residential communities in Accra,” said Alhaji Yusuf Ibrahim, Chairman of DS Real Estate.
An award-winning consortium of international consultants have teamed up with local professional firms to design the project and ensure its completion within the stipulated timelines. Designed to IFC Edge Green building standards, the project features solar power, spare water storage, backup power generation and on-site wastewater treatment.
Amenities include a swimming pool, gym, club house and reception area, exterior barbecue zones, children’s playgrounds and dog runs. Underground tenant parking and storage are also provided, together with ample surface visitor parking.
“This is our third Diplomatic Housing project in Africa; we are extremely proud of our record of delivering international standard developments within programme and budget, allowing our clients to focus on their core activities in the continent,” Redman added.
Verdant Ventures’ team has extensive real estate experience on the African continent, having collectively completed more than 130 projects worth over $3.5B across 29 African countries. Verdant Ventures has a current pipeline of $330M of diplomatic residential and commercial projects in 9 countries.
The Dara Salam Group is an established Ghanaian company with a diversified portfolio of activities. DS Real Estate has delivered over 50 townhouse residential units in the past 5 years, and is currently developing an office building with 37,000m2 of leasable space in the Airport City area.
The Ghana project is set to create over 1,500 jobs during the construction phase and will include several social investment initiatives to empower communities in Accra.
About Verdant Ventures
Verdant Ventures is a US-based real estate development company established in 2016. Its mission is to provide high–quality real estate projects across Africa, meeting international standards, creating satisfied customers, empowered workers, and delighted investors.
Verdant Ventures’ team of professionals is fully conversant with both the demands of international corporations and the challenges of delivering real estate projects in Africa. The developer tailor-builds infrastructure to their clients’ specifications and leases it back to them, freeing their client’s capital to be immediately deployed on core operations and value-added services.
Verdant Ventures’ senior team has 50 years of combined real estate and construction experience in Africa and over USD 10 billion dollars of project value delivered worldwide.
More about Verdant Ventures on www.verdant-ventures.com
Global Citizen Festival raises $2.4 Billion to end extreme poverty
Pledges totalling $2.4billion were announced as part of activities to mark the Global Citizen Festival in New York City and Accra on Saturday, September 24, 2022.
Key commitments were announced to celebrate the 10th anniversary of the festival’s impact and advocacy, through the hard work of many partner organizations.
A statement issued by Global Citizen said the 2022 Festival saw “more than US$800 million announced to end extreme poverty NOW and US$1.6 billion announced by the European Commission and Canada as part of the seventh replenishment of the Global Fund to Fight AIDS, Tuberculosis, and Malaria on Sept. 21, in addition to the announcement of five companies signing on to the UN-led Race to Zero initiative to reach net-zero emissions by 2050”.
Of this funding, more than US$440 million was earmarked exclusively to initiatives to end extreme poverty on the African continent, with the remainder intended to reach people around the world, including across Africa.
The Global Citizen Festival campaign announced commitments by world leaders and governments in support of ending poverty now, including Canada, Belgium, Denmark, the European Commission, Germany, Ghana, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Slovenia, United Nations, and the United States.
From around the world, messages of support for Global Citizen’s End Extreme Poverty NOW campaign were received by President Joe Biden and First Lady Dr. Jill Biden, President of France Emmanuel Macron, Prime Minister of Spain Pedro Sánchez, COP27 Youth Envoy Dr. Omnia el Omrani, Taoiseach of Ireland Micheál Martin, Dr. Phumzile Mlambo-Ngcuka, World Health Organization Director-General Dr. Tedros, COP26 President Alok Sharma, Former Secretary-General of the United Nations Ban Ki-moon, US Rep. Jamie Raskin, US Rep. Ann Wagner, and US Rep. John Curtis.
Financial and policy announcements were also made by many corporate, philanthropic, and NGO partners including Accenture, Cisco, Citi, Delta, the Dutch Postcode Lottery, Ford Foundation, Gavi and Girl Effect, the Global Menstrual Equity Hygiene Accelerator, Lego Foundation, Procter & Gamble, Rotary International, Verizon, WWT, YouTube and Google.org.
“Amidst all the doomsday messages we hear today, hope lies in the fact that millions of citizens are rising up to take action, more than any other point in history. 10 years ago, Global Citizen was just an idea – and 10 years from now we’ll see a generation of Global Citizens running for office, starting companies, and transforming communities,” said Hugh Evans, Co-Founder and CEO, Global Citizen.
In support of the Global Citizen campaign to defend the planet and take climate action NOW, five businesses officially signed on to the Race to Zero campaign to achieve net zero carbon emissions by 2050 as a part of Global Citizen Festival, including American Eagle Outfitters, Betterfly, Harith General Partners, Juan Valdez Café, and WWT.
Global Citizens have taken more than 2 million actions with Global Citizen in 2022 to help achieve Global Citizen’s mission to End Extreme Poverty NOW, more than doubling the record previously set by the international advocacy organization.
“With 43 days to go to COP, we need countries to move from pledges to implementation — as youth we have a critical role to play in making sure our nations do not backtrack on their promises,” said Dr. Omnia el Omrani, COP27 youth envoy, in a video message to Global Citizens at Global Citizen Festival.
With stages in Accra and New York, the event captured the Global Citizen ethos, channelling an eclectic array of musical talent in support of our efforts to End Extreme Poverty NOW and build momentum ahead of the G20 summit and UN Climate Conference, COP27, both in November.
BOST profit: State-owned enterprises can deliver value with right leadership – NAPO
Minister of Energy, Dr. Matthew Opoku Prempeh, has commended the Bulk Oil Storage and Distribution Company Limited (BOST) for the turnaround in its operational and revenue fortunes.
This comes on the back of the state-owned firm, increasing its profits to GH¢161million in 2021 after it recorded a loss of GH¢291 million in 2020.
Speaking at the first Annual General Meeting of the company, Dr. Opoku Prempeh said the development demonstrates that state-owned enterprises can deliver value through the right leadership and management to boost national development.
“The transformation is indeed massive, as evidenced in improved operational efficiency. This is the path to go if we should attain the path of State-Owned Enterprises contributing to the fiscal policy of government for its national growth and development agenda. Imagine if 100 SOEs each made GH¢150million net income,” Dr. Opoku Prempeh said.
The Minister disclosed that the improvement in BOST’s revenue was due to a core business strategy and an increase in petrol and diesel sales revenue of about 83 percent.
He added that an amount of US$611 million paid from the US$624 million debt accumulated in 2017 was generated from BOST’s internally generated funds.
The sector minister also lauded the management of the state-owned firm for the effective utilisation of revenue generated from the nine pesewas BOST margin on petroleum products.
He explained that proceeds from the petroleum levy were used to undertake renovation and repair works on fuel depots, decommissioning of tanks, revamping four river barges for fuel transportation on the Volta Lake, and the upgrade of the Akosombo jetty.
“The rest are upgrade and replacement of loading arms, pumps and valves across all the depots at Buipe-Bolgatanga-Petroleum-Product-Pipeline; Tema-Akosombo-Petroleum Product-Pipeline; and Bolgatanga Petroleum Export Depot among others.”
He continued, “Comparing figures, I also saw BOST reducing its administrative expenses from as high as GH¢538 million in 2016 with a staff strength of 349 to GH¢212 million in the year 2021 with a staff strength of 487.
The energy minister also commended BOST for deploying cost-cutting measures in its operations.
“Genuine administrative costs grow upward and not downward due to factors like inflation among others but I would like to commend management for the prudence that resulted in these massive reductions in the cost of operations.
The company is spending less while achieving more for the government and people of Ghana; from the face of the record, this is an impressive performance that the company’s board and management need to be commended for,” the energy minister stated.
Dr. Opoku Prempeh in his concluding remarks reaffirmed BOST of government’s commitment to make the entity an effective and profitable one.
“I am aware of recent developments in the mass media on BOST, but I am also aware of the political economy around operations of the company. Government is also aware of the turf-war to get the company derailed, and we are not falling for those who seek to engage the reverse button,” he emphasised.
Silver Star loses benz dealership deal in Ghana
Silver Star Auto Limited, a popular automobile firm in Ghana has lost its deal as the authorized distributors of Mercedes benz in Ghana.
A Press Statement issued on Thursday, September 15, 2022 by the Company said Mercedes Benz Germany has decided to engage a new multinational dealer for the Ghanaian and West African market at large albeit leading the market share by far in Ghana for luxury vehicles.
“We have tried our level best to make a case with Mercedes-Benz in Germany without luck, all appeals failed to have produce any response from them leaving us no choice but to seek redress from the courts,” the company said in its statement.
Despite the separation, SSAL assured its customers that it will still remain an independent trusted partner for Mercedes-Benz advice, support, and aftersales service.
Below is the full statement
England defender Harry Maguire gets roasted in Ghanaian parliament (Video)
Ghana vs Switzerland (2-0) Full Highlights Goals, Pre-Qatar 2022 FIFA World Cup Friendly Match (Video)
StorONE is transforming software-defined storage
ICANN Boost Africa Internet Access with New Root Server
Parliament to begin implementing no scanning, no entry directive today
PIAC, GNPC expected at Ofori-Atta censure hearing today
Public university workers remain on strike after continued stalemate
- England defender Harry Maguire gets roasted in Ghanaian parliament (Video) December 4, 2022
- Ghana vs Switzerland (2-0) Full Highlights Goals, Pre-Qatar 2022 FIFA World Cup Friendly Match (Video) November 18, 2022
- StorONE is transforming software-defined storage November 17, 2022
- ICANN Boost Africa Internet Access with New Root Server November 17, 2022
- Parliament to begin implementing no scanning, no entry directive today November 17, 2022
- PIAC, GNPC expected at Ofori-Atta censure hearing today November 17, 2022
- Public university workers remain on strike after continued stalemate November 17, 2022
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