Afribiz Invest and Ghana’s NHF finalise R27bn agreement to deliver 22 000 homes

Afribiz Invest and Ghana’s National Home Ownership Fund (NHF) have officially concluded a landmark R27 billion Master Agreement to develop 22 000 mixed-use homes across Ghana, marking one of the largest African-led urban development initiatives in recent years. The agreement, signed during a ceremony at the Seven Villa Hotel and Spa in Sandton, represents a significant milestone in strengthening economic, infrastructural and diplomatic ties between South Africa and Ghana.

Afribiz Invest is a South African investment company founded in 2005 by entrepreneur Collen Mashawana. The company has grown into a large and diverse group with more than 25 subsidiary businesses operating in construction, property development, energy, information technology, mining, financial services and infrastructure consulting. Over the years Afribiz Invest has become known for delivering major urban development and infrastructure projects across South Africa, including large mixed use developments such as Rama City and the West Rand Mega Park. 

The newly signed agreement lays the foundation for a major housing programme aimed at addressing Ghana’s rapidly rising demand for affordable urban homes. As the country experiences steady population growth and accelerated urban migration, pressure on housing infrastructure has intensified. The Master Agreement provides a structured framework for a multi-phase rollout of community-centred developments designed to offer dignified living conditions to thousands of families.

Afribiz Invest chief executive Pongo Pule said the signing reflects a decisive moment for African institutions taking charge of the continent’s development agenda. Pule emphasised that the partnership illustrates what African collaboration can achieve when driven by a shared purpose and an ambition rooted in community upliftment. According to Pule, Afribiz Invest is honoured to contribute to the creation of sustainable, modern living spaces that mirror the needs and aspirations of ordinary families. She added that the deal demonstrates Africa’s growing capability to conceptualise, fund and execute large-scale development projects independently.

National Home Ownership Fund CEO Prosper Hoetu echoed this sentiment, noting that the partnership comes at a crucial time for Ghana’s expanding cities. He explained that the Master Agreement gives the Fund the capacity to significantly scale up its delivery of affordable housing while stimulating economic development. Hoetu said the project will not only provide homes but also support job creation, bolster local industries and strengthen long-term economic empowerment.

A key feature of the development is its mixed-use model, which moves away from traditional, isolated housing layouts. Instead, the project will integrate residential units with essential amenities, commercial spaces and community facilities. This approach aims to create self-sustaining neighbourhoods that encourage economic activity, social cohesion and improved quality of life. By combining housing with broader urban infrastructure, the developers hope to set new standards for community-oriented urbanisation in Africa.

The partnership was facilitated by Black Knight Advisors, a firm that oversaw the financial, structural and strategic design of the agreement. Their role included ensuring that the project’s framework is bankable, sustainable and aligned with both countries’ development priorities. Their involvement helped shape a project blueprint that balances commercial viability with social impact.

With the Master Agreement now signed, the project enters its implementation phase. This includes final planning, technical preparation and mobilising construction teams. Once underway, the development is expected to generate thousands of employment opportunities across various sectors, ranging from construction and engineering to manufacturing and local supply chains.

For Ghana, the project promises not only much-needed housing but also broader economic stimulus. For Afribiz Invest and South Africa, it reaffirms an expanding leadership role in driving continental infrastructure development.