Accra, Ghana, November 16, 2021—IFC and Rehoboth Properties today announced the first affordable housing project in Ghana to achieve IFC's Excellence in Design for Greater Efficiencies (EDGE) green building certification, helping Accra reduce greenhouse gas emissions while conserving energy and water usage.
Rehoboth's 1,700-unit Knightsbridge community in the suburb of Kwabenya features efficient lighting, natural ventilation, low-flow faucets, and dual-flush toilets, among other energy efficient technologies, reducing electricity and water use by a third for residents.
Adding to its green credentials, the Knightsbridge community was built from materials that require 50 percent less energy to manufacture, transport, and install compared to materials used in other buildings in Accra. A second IFC EDGE-certified development, the 1,400-unit Palms community in Accra, is expected to open in late 2022.
"Rehoboth is proud to offer Ghanaians, for the first time, a triple-edged chance to save: save on purchase price, save on utilities, and save the Earth, leading to a significantly lower total cost of ownership over a lifetime and beyond," said Gideon Akrofi, Rehoboth's CEO.
"The first EDGE certification of an affordable housing project in Ghana demonstrates IFC's commitment to supporting a greener, more inclusive post-pandemic economic recovery. Green buildings will help Ghana transition to a lower-carbon future as specified in the country's commitments under the Paris climate change agreement," said Ronke Ogunsulire, IFC Country Manager for Ghana.
IFC's EDGE program was launched in 2014 to support the construction of green buildings and help fight climate change. The program is active in 170 countries.
In Ghana, EDGE has certified 12 large buildings since 2017 in the health, hospitality, retail, and financial sectors, and is encouraging developers to adopt green building techniques.
About Rehoboth
Rehoboth Properties Limited is a wholly owned Ghanaian real estate company founded in 2012. It builds quality and affordable housing for middle-income and high-income earners. As one of Ghana's leading real estate developers, it aims to create quality and affordable housing for all. For more information, visit https://www.rehobothpropertiesgh.com/
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
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