Renaissance Management Group, Inc. (RMG) is pleased to announce that we have obtained a $250 million funding commitment from Merrill Lynch to support the Government of Ghana’s affordable housing project. The funding commitment enables RMG to extend a supplier’s credit to the Government of Ghana in support of the first phase of our commitment to construct 15,000 units of affordable housing for the West African nation.
“The development of affordable housing is a key priority for the Government of Ghana and this commitment from Merrill Lynch is a significant step toward making affordable housing a reality for the Ghanaian people. However, this is not the final step. The Supplier’s Credit Agreement and Housing Construction Contract require final approval by Cabinet as well as the Parliament of Ghana” states Tshaka Lafayette, RMG’s General Counsel and VP of Corporate Development.