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Friday, August 19, 2022

How State Housing bounced back and collected over 30-yr-old debt after near collapse

Managing Director of State Housing Company Limited, Kwabena Ampofo Appiah

Managing Director of State Housing Company Limited, Kwabena Ampofo Appiah, has disclosed the approach they took to raise money for their building projects.

Speaking on Asempa FM’s Ekosii Sen Thursday, Mr Appiah said his outfit had to raise money to make the company more attractive and therefore had to embark on revenue mobilisation and collection.

Mr Appiah revealed the company had people who owed them up to over 30 years.

“It was almost impossible to go out for loan because the company was not all that doing well and so we had to look inside ourselves to be able to raise some funds for our projects. We had to collect our monies, most of them were big corporations , we had to cut waste and work smarter to make us attractive for business and find ways to generate support,” he said.

Through the benevolence of some traditional leaders and well meaning individuals, he noted, they managed to acquire lands for construction.

“Otumfuo gave us land, Sefwi Wiawaso chief also gave us over 500 acres, Okyenhene about 200 acres, other Ghanaians also supported,” he added.

So far, Mr Appiah noted all their projects are funded by Internally Generated Funds, adding that there is no other source of funding.

“As a company, we don’t compromise on quality in all our projects. We don’t just build and hand over but help in its maintenance.

“So far all our projects were done through IGF and we have not borrowed money from anyway. We have been able to reopen offices that were closed down for years,” he stated.

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