Ghana to own buildings for embassies abroad to cut on $15m annual rent

Ghana will no longer be spending over $15 million annually on renting properties for its foreign missions abroad, President John Dramani Mahama has said.

"This is not a judicious use of taxpayers' resources,” he said, as he announced a new policy, known as the Strategic Transition from Rental to Developing (STRIDE), that is meant to ensure state ownership of buildings for embassies and consulates abroad.

President Mahama said his cabinet had approved the policy and funding mechanisms were being negotiated.

A transaction advisor has been appointed and standard designs for the buildings had been developed, he added.