Ken Ofori Atta – Finance Minister
Government has stated that it’s determined to effectively address the country’s housing deficit, which has been put at over 2 million units, through aggressive collaboration with real estate developers.
“The real estate sector has experienced overall growth but access to affordable housing remains a challenge to many of our citizens. The country currently has a housing deficit, with some estimates putting it in excess of 2 million units.”
Ken Ofori Atta, Finance Minister, who disclosed this in Parliament on Thursday, said government would initiate the legislative processes towards the establishment of the Ghana Housing Authority to spearhead implementation of the National Housing Policy, especially with respect to affordable housing.
He cited unencumbered land, infrastructure, construction and mortgage finance as some of the key challenges to address.
“The Authority will also serve as the regulatory body for the housing industry to ensure conformity with housing standards. In the last quarter of the year, government will roll out a rent-a-bed scheme for the socially marginalised manual workers, mostly female porters, in urban centres. The proposed intervention is to provide them with hostel facilities close to where they work. This secure environment will also give them the peace of mind to plan and work towards moving up the economic ladder.
“As a matter of great urgency, the government will also embark on an accelerated affordable housing scheme through the development of 600 acres of serviced plots, near Dawa (63 kilometers from Accra) in the Greater Accra Region in partnership with real estate developers on a pilot basis, and replicate similar schemes in all regions.
“This project is strategically located to fit into government’s plan to development new settlements along the new road and rail transport corridors to facilitate easy access into major cities. The government will also accelerate its programme to set up a National Housing and Mortgage Fund to provide construction and mortgage financing for the project.”
By Samuel Boadi