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Capetano Oil Eyes Liberia for Housing

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The Deputy Officer-in-Charge of the National Housing Authority (NHA), C. Raphael During, has concluded a two-day official visit with officials of Managing Partners of Capetano Oil Limited in Accra, Ghana.

Mr. During (on Feb. 22-23) met with representatives of Managing Partners of Capetano Oil Limited, including, Jeremie Wilson, managing partner and Nicky Wilson, the executive director.

The meeting was arranged by Hon. Zoe Emmanuel Pennue, chairman on State-Owned Enterprises of the House of Representatives.

Mr. During said the meeting centered on how Capetano Oil Limited could invest in the real estate sector to build affordable houses in Liberia.

Capetano Oil Limited is based in Ghana with affiliates in the United Kingdom has been investing  in the real estate sector.

Their interest sparked from President George Weah’s top priority enshrined in the Pro-Poor Agenda for Development and Prosperity in the affordable housing sector.

Mr. During, at the meeting, thanked Capetano for its interest in the housing sector in Liberia and gave detailed explanation on the policy guidelines established the committee on investment at the NHA. He also spoke on the procedures required to carry out such an investment in the housing sector through the National Housing Authority (NHA).

Based on the discussion, the interest in constructing affordable housing in Liberia is a major investment that sets standards on variables such as land acquisition, financial implications and returns and guarantee by the Government of Liberia.

According to Mr. During, while the NHA appreciates the strong interest to get the project done, Capetano should do an official request and submit copies of their credentials, including profile, to the NHA for advanced discussions.

According to a release from the NHA, Capetano is very intrigued by the opportunities to invest in Liberia and their representatives said they would work as soon as possible to send an official ‘Expression of Interest’ in the housing to the NHA.

Capetano’s officials are meanwhile expected in Monrovia as guests of the Government of Liberia, through the NHA for the first round of discussions at the latter part of March 2019.

Capetano Oil Limited said it is willing to bring investment to Liberia once discussions on several key issues are addressed by the proper authorities. Its officials are willing to make their first trip to Liberia to sign a Non-Discloser (Non-Binding) Memorandum of Understanding (MOU) to cement the partnership with the Government of Liberia through the National Housing Authority, after the competition of discussions.

The NHA has received several requests from international partners who have expressed interested in the real estate sector.