Sankofa Capital, a Philadelphia-based Real Estate Development Company and Jobomax Global, West Africa’s most trusted homebuilder, announced a joint venture pilot housing project in Ghana. The homes can be either owner-occupied residences or income generating investment properties, appealing to buyers in the historical and recent diaspora as well as those currently living in Ghana.
Keith Williams, Founder and CEO, Sankofa: “As an African-American owned real estate developer I have always been drawn to Africa. A few years ago I made my first investment property acquisition in Ghana but knew that I really wanted to be more than a passive player in the Accra market. Sankofa saw Jobomax’s experience of developing communities from the ground up in Guinea and Sierra Leone as a perfect addition to Sankofa’s boots on the ground experience in Ghana. Investing in the land of my forefathers is a personal mission for me. Jobomax’s know-how and experience getting it done in West Africa made them the ideal partner.”
Jonathan Halloran, Co-founder and CEO, Jobomax: “From the moment my Co-founder Robert Hornsby and I met Keith, we knew we wanted to work with him. His passion for engaging African Americans in a connection with the continent fits perfectly with our experience and passion with engaging local buyers and the recent diaspora. Sankofa has the local market knowledge and experience to ensure a successful launch. Although this initial phase of our work in Ghana together is of modest scale, we believe that Ghana is one of the most exciting real estate markets in West Africa and that by working with Sankofa, we can multiply our impact many times over.”
The Jobomax/Sankofa joint venture has already acquired land in Appolonia City, a master planned community in suburban Accra. The site offers a gated community, paved roads, water and electric service, and retail and other amenities to complement the homes. By adapting a Jobomax design for the Ghanain market, the project delivers homes in the mid-priced range sought by many diaspora members and investors. Financing for a term of up to ten years will be available to some buyers through Jobomax’s partnership with US-Africa Housing Finance. Ghana residents are encouraged to finance with local banks which offer both Cedi and USD financing.
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