Wednesday, 23 August 2017

Project and Funding

Korle Project will be divided into 2 Phases:

·Phase 1: Construction and operation of the ground floor shops

·Phase 2: Construction of the floors two through five

 

Phase 1:

·Projected cost will be GHC150,000 – GHC200,000

·All materials will be obtained directly from the manufactures.

·No Middle Men

·A minimum of Seventy percent(70%) of workers on the Korle Project will have to be living in the inner city Accra community

·Work Force required will include but not limited to the following.

oAdministrative Assistants

oAccount Clerks

oMasons

oCarpenters

oElectricians

oPlumbers

oSteelBenders

oDrivers

·Day laborers will be 100% from the inner city Accra community

 

Funding:

·Project will be funded by outside investors and community members. Contributors will constitute an Investment Club which will be opened to anyone interested in investing in Ghana

·Initial contributors to the Korle Project will be classified as Founding Members and their contributions will be used to complete Phase 1.

·After the completion of Phase 1, the Korle Project will be valued “AS IS” and the Total Cedi Value will be the base number of Total Shares(BTS).

·An additional YY% of the BTS will be allocated to the Community Housing Administration (CHA) to hold in trust for the community, landowners and custodians of the leased land.

·The total number of Korle Project Shares (KPS) will be calculated as BTS + (YY/100 * BTS). This quantity will be distributed among the Founding Members and the Community Housing Administration

·Share price will be determined by the Korle Project management team

·Founding Members Shares in Korle Project will be awarded based on each Founding Member’s invested amount

 

Example of Initial Investors Share in Korle Project
Investor Amount Invested % Current Value Shares Allocated
A 80 32 128 128
B 40 16 64 64
C 30 12 48 48
D 30 12 48 48
E 20 8 32 32
F 50 20 80 80
Total 250 100 400 400
Current Value Total of 400 is the Total Assets Value of the Korle Project after completion of phase 1 (ground floor). The additional shares to be allocated to CHA will be 120 (30% of 400). The number of Korle Project Shares will be 520 (400 + 120)

 

  • Founding members will need to commit their funds for at lease two year before any withdrawal through sale of Korle Project shares
  • Other investors will be given the opportunity to buy Korle Project Shares at the prevailing price to fund Phase 2 of Korle Project