The Ministry of Works and Housing has announced a forthcoming partnership with private developers to undertake large-scale housing projects in Ghana.
According to the Minister of Works and Housing, Kojo Oppong Nkrumah, the necessary incentives package and Public-Private Partnership (PPP) Framework for this initiative are pending approval by the Cabinet and Parliament, following engagement with the Ministry of Finance. This announcement was made during a courtesy call by the leadership of SuCasa Properties on Monday, July 8, 2024.
SuCasa Properties expressed their gratitude to the Minister for his support during the commissioning of their No.2 O’Grantson Communities in East Legon Hills, Accra. The project, consisting of 55 affordable homes, received high praise from the Minister.
During the meeting, Minister Nkrumah emphasized the synergy within the government’s intra-ministerial administration, facilitated by the Ministry’s uniquely crafted Public Partnership Framework. This coordination among Ministries such as Roads and Transport, Water and Sanitation, and Energy aims to streamline the provision of social amenities like roads, water, and electricity to construction sites and communities. This will alleviate the burden on private developers, making it easier for them to provide these services.
The CEO of SuCasa Properties, Michael Kwabena Owusu O’Grantson-Agyapong, expressed his appreciation to the Minister and underscored the importance of effective collaboration for affordable housing projects. SuCasa’s next project in Prampram will consist of 10,000 homes targeted at civil servants. O’Grantson-Agyapong also mentioned a mortgage access plan in collaboration with key financial institutions, including FNB Bank, to benefit the median class of society.
Currently, Ghana faces a housing infrastructural deficit of approximately 1.8 million units. Minister Nkrumah acknowledged that housing construction cannot be the sole responsibility of the government. Therefore, establishing partnerships with the private sector is essential to overcoming hurdles, with the government providing necessary incentives such as favorable tax regimes on import duties for construction materials and equipment.
This partnership between the government and private developers is seen as a crucial step in addressing the country’s housing deficit and making affordable housing accessible to many civil servants in Ghana.
