NEW YORK, May 2, 2017 /PRNewswire/ -- Africa Growth Corporation (OTC: AFGC), herein after referred to as "Africa Growth," today announced the launch of its new website: www.AfricaGrowthCorp.com. The purpose of the site launch is to provide information about Africa Growth's important activities in the nascent sub-Saharan mortgage markets, including its plans to create Mortgage Acceptance Corporations ("MACs") for country-specific housing markets in the region. Africa Growth's country-specific MACs will channel both equity and debt funding from Wall Street to sub-Saharan markets where mortgage capital is either scarce or largely nonexistent, thereby unlocking attractive opportunities for the capital markets, as well as contributing to access to mortgages to millions of people in the region.
"The website gives further insight into the market opportunity to earn attractive rates of return while simultaneously improving the quality of life in the region by providing affordable mortgages to creditworthy families," said Christopher Darnell, Chairman and CEO, Africa Growth Corporation.
Africa Growth estimates that there is currently a shortage in excess of 100 million homes in the sub-Saharan African region because of a lack of mortgage finance. This represents an investment opportunity of approximately $2 trillion today. Only about 2 percent of sub-Saharan African families have mortgages. Furthermore, sub-Saharan Africa has the fastest growing population in the world, which means the demand for mortgages is growing every day.
Namibia MAC, the first Mortgage Acceptance Corporation established by Africa Growth, is working with Wall Street investment banks to launch an initial tranche of up to $250,000,000 of exchange-listed bonds. Namibia has maintained an investment-grade sovereign credit rating according to Moody's and Fitch since 2005.
To learn more about the Company and its investment opportunities, please visit AfricaGrowthCorp.com.
Namibia Mortgage Acceptance Corporation
Namibia Mortgage Acceptance Corporation was formed as a special-purpose, wholly owned subsidiary of Africa Growth Corporation (AFGC) to provide mortgage finance to Namibia.
AN INVESTMENT IN NAMIBIA MORTGAGE ACCEPTANCE CORPORATION (Namibia MAC) MAY ONLY BE MADE IN ACCORDANCE WITH, AND FOLLOWING REVIEW OF, A CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM. THIS INFORMATION IS NOT MEANT TO REPLACE OR SUPPLEMENT THE CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE SECURITIES. THIS INFORMATION IS FOR THE PURPOSE OF FAMILIARIZING YOU WITH A POTENTIAL OFFERING BY THE COMPANY. ANY INVESTMENT IN THE COMPANY WILL BE LIMITED TO ACCREDITED INVESTORS AND QIBs, AS SUCH TERM IS DEFINED IN RULE 501(a) OF REGULATION D UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
Information in this document constitute forward-looking statements or statements that may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Africa Growth Corporation herein are expressly qualified in their entirety by the above mentioned cautionary statement. Namibia Mortgage Acceptance Corporation, Inc. disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE Africa Growth Corporation