Ghana Home Loans Appoints Chairman

Ghana Home Loans (“GHL”), the mortgage finance specialist, has appointed Simon Stockley as non-executive chairman of its nine-member board of directors. Simon comes to GHL with an extensive wealth of mortgage experience, ranging from origination through financing and securitization.

In 1999, Mr. Stockley co-founded and served as the first CEO of South Africa Home Loans (“SA Home Loans”), South Africa’s first discount home loan specialist and non-bank mortgage lender.

During his tenure as CEO of SA Home Loans, the Company grew its mortgage portfolio from a zero base to in excess of $3.5bn. At the time of Simon’s departure from SA Home Loans in 2004, the business was taking on over 2,000 clients per month, claiming a 15% market share of South Africa’s highly competitive mortgage market.

Simon also led the team which brought South Africa’s first residential mortgage backed securities issue to market in November 2001 and was, subsequently, intimately involved in the structuring and marketing of a further three multi-million dollar bond transactions.

Since November 2005, Simon been retained by Kingdom Installment (“KIC”), a specialist loan finance company operating in the Kingdom of Saudi Arabia, as its Chief Operating Officer and advisor to the Chairman of the Board. During his tenure at KIC, Simon has successfully launched the Gulf’s first Sharia compliant mortgage securitization program (KSA MBS) and has executed an MOU with Arab National Bank under which KIC will be recapitalized in excess of $550mn, making it the largest specialist home loan finance company operating in the Gulf.

Simon has received numerous awards in recognition of his management and, particularly, his marketing expertise, including The Institute of Marketing Managers’ KwaZulu Natal Marketing Man of the Year Award and The British Airways / Natal Mercury Business Excellence Award.