The Ministry of Works and Housing has announced that the government will soon partner with private developers to execute large-scale housing projects in Ghana.
According to the Minister, Kojo Oppong Nkrumah, the incentives package and Public-Private Partnership (PPP) Framework required for this initiative will soon be approved by Cabinet and Parliament, pending engagement with the Ministry of Finance.
He made these remarks when the leadership of SuCasa Properties paid a courtesy call on him at his office on Monday, July 8, 2024. They expressed their gratitude to the Minister for his commitment in attending the commissioning of SuCasa’s No.2 O’Grantson Communities in East Legon Hills, Accra. The project consisted of 55 affordable homes, which the Minister praised.
During the visit, the Minister highlighted the synergy that exists within the government’s intra-ministerial administration under the Ministry’s uniquely crafted Public Partnership Framework.
With such synergies, the Minister was optimistic that Ministries such as Roads and Transport, Water and Sanitation, and Energy could effectively coordinate the provision of social amenities like roads, water, and electricity to construction sites and communities. This would ease the burden on private developers in providing these services. The far-reaching effect of facilitating housing development by private developers under the PPI framework cannot be underestimated.
The CEO of SuCasa Properties, Michael Kwabena Owusu O’Grantson-Agyapong, expressed his gratitude to the Minister and reiterated the importance of effective collaboration and facilitation of affordable housing projects through the Ministry’s interventions. This collaboration aims to make affordable housing accessible to many civil servants in the country.
Mr. O’Grantson-Agyapong also unveiled SuCasa’s next project in Prampram, which will consist of 10,000 homes targeted at civil servants. He mentioned a far-advanced mortgage access plan cemented between SuCasa and key financial institutions, including FNB Bank, to benefit the target consumers, primarily the median class of society.
The housing infrastructural deficit in the country is currently around 1.8 million units, which the government is working diligently to address. Kojo Oppong Nkrumah acknowledged that housing construction cannot remain solely the responsibility of the government.
There is, therefore, a need to establish partnerships with the private sector to overcome hurdles, while the government provides necessary incentives such as favorable tax regimes on import duties for construction materials, equipment, and implements.
