The absence of a proper regulatory framework in the real estate sector has been decried by some players in the industry, with Eddie Wiafe, the Chief Executive Officer of Landsar Group, highlighting the negative impact on the economy.
Speaking at an aerobic session of the Canada-Ghana Chamber of Commerce, Wiafe emphasized the need for the enforcement of existing laws to attract investors.
Wiafe expressed his concerns about the lack of regulation in the sector, stating, “For the real estate sector, the problems are many. We can only talk about a few, which is not a properly regulated sector because anybody at all can just go and register his or her business, and that's where we are when it comes to permit and other stuff. Any mason can just wake up and say he is a contractor, so it is bad.”
The General Secretary of the Canada Ghana Chamber of Commerce, Edwina Atta-Sonno, echoed the sentiment of fostering more partnerships within the chamber.
She emphasized the ongoing successful trading activities between Ghana and Canada, with various sectors of Ghana's economy being targeted for investments by chamber members.
“We have always had a good relationship with the Canadians, and the chamber will continue to invest in various sectors of the economy. We will deepen the relationship between Ghana and Canada,” Atta-Sonno stated.
Source: James Eshun