Vice President Dr Mahamudu Bawumia had the honour of commissioning phases 1, 2 and 3, respectively, of the Kpone Affordable Housing Project, a 1070 housing unit project.
At the same ceremony, he also cut the sod for commencement of work for Phase 4 of the project, which is to construct 834 extra housing units, bringing the total housing units under this project to 1904.
He commended the board and staff of the TDC Company Ltd. for their tireless contributions to the success of this project.
Dr Bawumia indicated that “In our bid to improve Ghana’s housing delivery system, to adequately address the increasing demand for affordable homes, particularly for low to middle-income earners, we have, in the past seven years, implemented a series of transformative initiatives to address these longstanding issues and create sustainable housing solutions in Ghana”.
He said these initiatives, apart from the completion of the Kpone Affordable Housing Project, include, the establishment of the Homeownership Fund in 2018, which, in partnership with local banks, provides cedi-denominated mortgages at lower interest rates.
To date, this fund has supported the completion of 405 housing units with underwritten mortgages, and 139 more units are currently under construction, with a completion target of February 2025.
He stated that government has also expanded the public sector housing programme through strategic partnerships with the private sector, and that this approach, which is scheduled to deliver 609 housing units for public sector workers, focuses on maximizing the use of government land, increasing housing density in prime urban areas, limiting urban sprawl, and enhancing the urban environment.
“Also, in recognition of the critical role of our security services, we have prioritized their housing needs and over the past seven years, we have provided 1,000 housing units for the Ghana Police Service in Tema, Kwabenya, and Tesano. And through the Rent Assistance Scheme, which was launched in 2023 to support those who are unable to own homes, with rent advance, about 2400 people have been assisted with a remarkable 100% recovery rate.
My objective is to build on this progress, to ensure that every Ghanaian, regardless of income level, has the opportunity to live in dignity and security”, the NPP flagbearer added.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
