Ghana's Housing Sector Gets Boost as Government Inaugurates State Housing Company Board, Two Others
Accra, Ghana - 19 June, 2025 - Ghana's Ministry of Works and Housing has taken a significant step towards addressing the country's housing deficit with the inauguration of three governing boards.
The boards, established for the Real Estate Agency Council, Public Servants Housing Loan Scheme, and State Housing Company Limited, are tasked with implementing key initiatives to make housing more affordable and accessible.
The State Housing Company Limited's board has been mandated to prioritize innovative financing mechanisms for national housing projects, including the Pokuase-Afiaman and Dedesua Affordable Housing projects. The board is also expected to develop sustainable financing strategies for the District Housing Programme, which aims to deliver quality homes across the country.
Minister of Works and Housing, Kenneth Gilbert Adjei, emphasized the importance of creative public-private partnerships and leveraging green and climate-resilient housing finance.
He urged the boards to explore new approaches to address the housing deficit, including modernizing the Public Servants Housing Loan Scheme's operations and reviewing interest rates to attract external funding.
The Real Estate Agency Council's board has been tasked with regulating the real estate ecosystem through licensing, standard setting, and effective regulatory frameworks. The Minister emphasized the need for the board to maintain a public register, set performance standards, and promote education and compliance.
“These projects are not only central to our housing goals, but also have the potential to generate significant employment, support local industries, and deepen economic inclusion,”
“For instance, several schools of thought have argued that the scheme could reconsider its interest rate to adopt one that would possibly position the Scheme to attract external funding towards expanding its operations.
“This will require a significant change in the legal and regulatory frameworks that have governed the Scheme’s operations. Accordingly, I urge you to prioritise advancing policy reforms by critically reviewing the mandate to consider the amendment of the PSHLSB Decree (N.R.C.D 319),” he added.
“This is an ambitious, yet achievable goal. Your mission is to regulate this ecosystem through licensing, standard setting, robust policies, and effective regulatory frameworks – all for the sustainable development of our beloved Ghanaian economy,” he said.
The Chairmen of the respective boards have pledged to work towards restoring confidence in the housing sector and delivering decent housing for Ghanaians.
Source: Lead News Online
