View Full Version : Ghana Armed Forces Bid For STX Deal

19th January 2012, 06:44 PM
The Ghana Armed Forces have shown strong interest in taking over the botched STX housing deal, Citi Business News has learnt.

President Mills has asserted that government is looking for alternatives in the failed housing deal.

The Deputy Minister for Water, Resources, Works and Housing, Major (Rtd) Dr. Mustapha Ahmed told Citi Business News: “The issue of STX signing an agreement to produce 30,000 houses does not mean the door is closed to anybody. ”

“A lot more companies are invited, indeed recently the Ghana Armed Forces did a presentation and came out with their own proposal and it is being considered. ”

Quite a number of companies are reported to have submitted proposals and government is currently on the due diligence state with many of the companies that have expressed interest in the deal.

The $1. 5 billion deal would see the construction of 30,000 units of accommodation for the security services. The deal, however, grinded to a halt following board room wrangling of the partners involved.

Dr. Ahmed said the Armed forces will “given the benefit of the doubt” contribute in reducing the housing deficits that confronts the nation.

One of the companies whose name has recently come up as being considered to take up the STX housing deal is Nairobi-based pan-African housing finance company, Shelter Afrique.

However, Dr. Ahmed told Citi Business News, Shelter Afrique is not one of the alternatives government is considering.