Gov't to adopt new strategy to implement Affordable Housing

By Michael Abayateye
Samuel Atta Akyea

Works and Housing Minister, Samuel Atta Akyea has said government will adopt a new strategy to implement the Affordable Housing scheme.

According to the Minister, government would amend portions of the Pensions Act to make funds available for the implementation of the scheme as the demand for accommodation in Ghana remains high.

He said the demand for decent housing in Ghana is far above the level of supply with a staggering 1.7 million deficit.

Speaking to Joy News at the ongoing M&C/Multi TV Habitat Fair in Accra, he said they are amending the Pensions Act to make available atleast 30 to 40% of the monies which come to the housing fund as a pool that banks would leverage on to pay investors.

He added that, when investors can be paid for job done, there will be no amount of housing unit they cannot roll out in the country.

This legislative measures he said would ensure that, government achieves something good for the country as far as housing is concerned.

However he said, government would complete the affordable housing project started by former administrations before building new houses.

"There are houses that former President Kufuor started and a lot more that ex-President Mahama started but the Akufo-Addo's government would finish those houses and then try to deal with the housing deficit,"he stated.

The John Kufuor's administration rolled out the Affordable Housing programme in 2005 to address the challenge.

Last year, former President John Mahama inaugurated 1,500 housing units at Ningo in the Greater Accra Region as part of phase one of the affordable housing project. GhanaNews