Ecobank Ghana and the Multimedia Group jointly launched the 2020 Joy News Habitat Fair at the plush auditorium of the Ecobank Head Office in Accra. The launch brought together key public and private sector players in the housing industry of Ghana to explore ways by which they can deliver truly affordable housing units to help bridge the ever-widening housing deficit.
Dan Sackey, Managing Director of Ecobank Ghana said the continuous growth in the proportion of the Ghanaian population that lives in urban areas, currently 57%, has always had adverse impact on the country’s housing deficit.
Mr. Sackey therefore intimated that the task of providing good accommodation for the nation’s working class is enormous and cannot be borne by government alone, requiring strong participation from the private sector.
“This is why Ecobank has partnered with Joy News to create this vehicle that brings together real estate companies, value chain suppliers, potential homeowners and other patrons of residential properties to help build and deliver dream houses to Ghanaians. It is our belief that this will offer prospective homeowners a wide range of home options to consider, as well as different financing options,” he said.
He emphasized that Ecobank recognizes the need for banks to act not only as financiers but as facilitators as well, providing customers with suitable payment platforms and solutions to the challenges that they may encounter in owning homes. “This collaborative effort of Ecobank, Joy News and other stakeholders, makes it possible for individuals to acquire homes today in a seamless manner.”
Ken Ansah, Chief Operating Officer for the Multimedia Group Limited, applauded stakeholders and partners for their numerous efforts at working together to provide affordable housing for Ghanaians.
He specifically thanked the Ministry of Works and Housing for their continuous support over the 11-year period of the Joy News Habitat Fair. Mr. Ansah urged all stakeholders to patronize this year’s fair, which runs throughout the month of October, for a better tomorrow.
Samuel Amegayibor, Executive Secretary of the Ghana Real Estate Developers Association (GREDA), said that providing affordable housing in Ghana is only possible, if politicians will agree to collaborate with local technocrats and private real estate developers.
According to him political promises on housing largely remain a rhetoric and unsustainable, hence the many unfinished government-led housing projects initiated by successive governments under the fourth republic. He called on political leaders to take a cue from the lessons learnt in handling the COVID-19 pandemic in Ghana and elsewhere.
“The pandemic has greatly affected businesses everywhere, including the construction industry. The negative effect of COVID-19 has further exposed Ghana’s poor housing situation, bearing in mind that our industry has received very little attention over the years by successive governments.”