Bawumia commissions 1,072 affordable homes at Kpone
The Ghanaian government has marked a significant milestone in its efforts to address the country's housing deficit. Vice President Dr. Mahamudu Bawumia has commissioned the 1,072-unit Kpone Affordable Housing Project, which is set to provide decent homes for thousands of Ghanaians.
The project, which was initiated in 2006 but stalled due to lack of investment, has been revived under the current administration. The completion of Phases 1-3 marks a major achievement in the government's efforts to provide affordable housing.
During the commissioning ceremony, Dr. Bawumia emphasized the government's commitment to addressing Ghana's housing deficit through innovative approaches. He highlighted the importance of leveraging Public-Private Partnerships (PPP) to deliver affordable housing and proposed a Decade of Housing Programme to reduce the country's 1.8 million housing deficit.
“The lack of a robust, long-term mortgage has made it difficult for many prospective home orders to access affordable financing needed to realise their dream of home ownership. The housing market and the mortgage market general are so important for any economy in most of the advanced economies,'' he stated.
“When the housing market goes down, the economy goes down. When the economy is going down, you see it in the housing market because the mortgage market is in trillions of dollars and pounds across various advanced economies.''
“We have seen the year of roads and what impact we have made with it in Ghana and what I will be ushering in God willing is a decade of housing for us to address our housing needs. We have already set forth, giving our experiences with the financing model for this. It’s a private-public partnership. That is the model we are going to apply, as we have done with the National Home Ownership Fund, to really solve this housing problem,” he added.
On his part, the Minister of Works and Housing, Kojo Oppong Nkrumah, lauded the project as a testament to the government's commitment to bridging the housing gap. He revealed that since 2017, over 10,000 homes have been delivered through various initiatives, in addition to over 1,000 housing units for security services.
“Phases 1, 2, and 3 of this transformative project have delivered a remarkable 1,072 housing unit. This achievement reflects the exceptional leadership both on the side of government, TDC and the commitment, expertise, and professionalism of the contractors who brought these phases to life,” he said.
“We are completing the Adenta SHC flats, and we have also handed over the Saglemi stalled units to the selected private partner to finance and complete,” he said.
The government has also assured Ghanaians of its commitment to completing stalled housing projects. The Vice President inspected ongoing works on Phases 2 and 3 of the National Housing Fund (NHF) estates, which will add 534 new homes to Ghana's housing stock.
Source: Lead News Online
