Accra, July 15, GNA – Parliament has approved a resolution between the Government of Ghana and the Wardens and Commonalty of the Mystery of Mercers, for the renewal of the headlease of Regina House in London, which provides accommodation for the Ghana International Bank (GHIB).
The House, therefore, adopted and approved the Finance Committee’s report on the contract agreement, in accordance with Article 181(5) of the Constitution, which requires parliamentary approval for international business and economic transactions involving the government.
Mr Thomas Nyarko Ampem, the Deputy Minister of Finance, speaking on the floor of the House on Tuesday July 14, said Regina House, located in a prime area of London, represented the face of Ghana abroad and has been occupied by the Ghana International Bank and other tenants for nearly a century.
He revealed that the renewal of the headlease would cost the Government of Ghana £17.25 million, securing the property for the next 150 years.
Ghana originally acquired the property in 1937, with the current lease due to expire in 2027.
Mr Ampem added that rental income from other occupants of the building, amounting to £1.4 million annually, will offset the lease cost within 12 and half years.
He noted that accumulated rental income would also be used to acquire other strategic properties in the United Kingdom.
Regina House had long served as a strategic property for Ghana, housing the Ghana International Bank and symbolising the country’s financial presence in London.
The renewal of the headlease underscores Ghana’s commitment to deepening international financial services and maintaining a strong institutional footprint abroad.
