Tema-Ghana, Feb. 23, CDA Consult – Mr. Yaw Acheampong Adjei, Marketing and Communication, Appolonia City has revealed that the real estate developer has earmarked ten million dollars for massive infrastructure development to reduce the housing deficit in the country.
He explained that the investment in Appolonia City’s newest futuristic city located 20km east of Accra in the Oyibi-Afienya enclave is also in response to the government’s call to the private sector to help bridge the country’s infrastructural gap.
Mr. Adjei noted that Appolonia City covers a 2,535-acre development on the format of Tema Communities one through 12 which was developed by Ghana’s first President Osagyefo Dr. Kwame Nkrumah.
He described the project as the most visionary city development embarked on since the Nkrumah presidency which ended in 1966.
Mr. Adjei also revealed that Appolonia City, in 2016 launched a 20 Mega Watt power station for an amount of 2.5 million dollars to provide stable electric power to residents.
“This was to ensure that beyond the residents of Appolonia City enjoying stable power, the 200-acre industrial park located in the enclave continues to be one of the most power-secure industrial enclaves in Ghana,” he said.
He said Appolonia City is a project by Rendeavour, Africa’s largest private city developer with over 30,000 acres of visionary projects in growth trajectories of large cities in Kenya, Ghana, Nigeria, Zambia, and the Democratic Republic of Congo.
He noted that the government often calls on the private sector to assist in reducing the infrastructure deficit stressing that in response to the call to assist in bridging the infrastructure gap, “we are undertaking an infrastructural facelift in phases over the next three years”.
Mr. Adjei told newsmen in an interview in Tema that Ghana has a huge infrastructure deficit that will require investment in the hundreds of billions of dollars.
He said the amount is too huge for any government to fund without the involvement of the private sector, adding that in the country’s 2023 budget, an amount of USD 222 million was earmarked for capital expenditure.
“For a country with a total land mass of about 59 million acres, an amount of USD 222 million could be broken down to USD 3.7 million per acre, clearly showing how insufficient this amount is relative to the infrastructural needs of the country.
“Following this rich history and culture of investing in infrastructural development in Ghana, Appolonia City intends to invest an additional amount of USD 10 million over the next three years, approximately, USD 2 million will be invested in 2023”.
Mr. Adjei noted, “this amount will be used in expanding access to water, power, and selected roads within Nova Ridges two and three in Appolonia City where there are significant development activities by existing clients”.
He said as part of the massive development, the access roads within the Appolonia City Industrial Park will also see a significant facelift.
He noted that as part of its corporate social responsibility the entire Oyibi-Appolonia-Afienya enclave where Appolonia City is located as the new infrastructural upgrades would have the indirect benefit and positive impact.
