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China-Africa Trade Information Service
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China-Africa Trade Information Service
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As part of efforts to boost housing supply and strengthen coastal protection, Ghana government will continue to work on several housing projects.
Mr Ken Ofori-Atta, Finance Minister said the Government would continue to work on projects such as the Saglemi Housing Project, where 4,100 of 5,000 homes would be completed in 2019, and the Cape Coast, Anomabo and Anyanui-Keta coastal protection works.
He said the Government Affordable Housing Project at Asokore-Mampong for 1,030 housing units was 90 per cent complete.Mr Ofori-Atta stated this in his presentation of the 2019 Budget Statement and Financial Policy of the Government to Parliament on Thursday.
He noted that as announced in the 2018 Budget Statement, work had been completed for the start of the pilot phase of the Mortgage and Housing Finance Market Scheme in November 2018.
He said an amount of GH¢40 million had been released for the pilot phase, which would leverage additional private sector funds of GH¢40 million from pensions, insurance and collective investment schemes through selected commercial banks.
He said a vibrant mortgage and housing finance ecosystem was key for social equity, economic development and job creation.
Mr Ofori-Atta said to scale up this initiative in 2019, Government had committed to a one billion Ghana cedis mortgage and housing finance fund, which would be seeded with a minimum of GH¢100 million every fiscal year over the next five years.
“This effort will support the private sector in expanding access to housing and deepen the local mortgage and construction finance market,” he said.
