Hard not to at least be cautiously optimistic seeing what was accomplished in the past year.. from the filing for the period ended September 2017..
In 2017 the Government of Ghana initiated several discussions with Kallo Inc., to revisit how the Ministry of Defense – Military Hospital requirements, the Ministry of Health healthcare infrastructure requirements and the Ministry of Education Teaching Hospital infrastructure requirements can be met using the Kallo Integrated Delivery Model. The success of these discussions confirmed Ghana's continued belief in the Kallo Integrated Delivery System, as the best solution for the nations healthcare infrastructure development, which is very encouraging for our continued business in Ghana.
On 20th June, 2017, Kallo Inc.'s branch office was legally registered in Ghana. A valid tax identification number was issued and this number is to be used by Kallo in all of its transactions within Ghana. We have incorporated four SPVs (Special Purpose Vehicles / Companies) to oversee the various projects Kallo intends to operate in Ghana. The SPVs are all incorporated under the laws of Ghana as private companies.
Kallo has entered into four major concession agreements with four key governmental institutions in Ghana. Kallo Inc., through its SPVs has entered into the following concession arrangements for the construction and operation of various hospital facilities in Ghana:
Project Description
Kallo SPV
1
Tamale Military Hospital project
K-TMH Ghana Limited
2
Cape Coast Teaching Hospital project
K-UCC Cape Coast Limited
3
Sunyani Teaching Hospital project
K-UENR Sunyani Limited
4
Ho Teaching Hospital project
K-UHAS Ho Limited
These agreements are effective upon execution and the concession period will start from the date on which financial close is achieved with the Lenders and all conditions precedent are satisfied or waived. The financing has not closed yet and there is no guarantee that financial close will be achieved.
We are also having very active discussions with other neighboring countries in Africa such as Niger, South Africa, and Nigeria for further expansion of our businesses in the region.
In 2017, we have also initiated project negotiations in Canada with two First Nations Groups to provide innovative solutions to increase accessibility and monitoring and management of medication from prescription to consumption with direct reporting to the provincial ministries.
Project Financing for the projects is being arranged by Seawave Invest Ltd. Bahamas, Nova Capital Global LLC, New York, and GRISSAG AG (PTY) LTD and the risk guarantees are being provided by the African Guarantee Fund and the Multilateral Investment Guarantee Agency (MIGA), the Political Risk Insurance arm of the World Bank Group.
In order to manage the aggressive expansion of our business, we have entered into collaboration agreements with TAHPI, an international company with expertise in Health Service Planning, Health Facility Planning, Architecture and Interior Design on 30 th June 2017 and FORTA MEDICAL, an advanced off-site building methods company on 28th July 2017. FORTA offers healthcare facilities based on a fast– track modular design and construction solutions with minimal disruption to the surrounding facilities operation. Their advanced factory prefabrication helps shorten project construction timetables in a way that is not achievable with on–site building technologies. These collaborations will augment Kallo's project delivery capacity and our ability to deliver complex projects in multiple geographies.
Kallo has also secured renewed commitment from our technology partners and technology infrastructure providers.
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