KEY NOTE ADDRESS DELIVERED BY HON FRANCIS ASENSO BOAKYE (MIN/MP)/Works&Housing /Bantama constituecy) AT THE REAL ESTATES CONFERENCE.

At the maiden edition of the Business24 Real Estate Conference held in Accra this morning, I addressed industry players on the theme, “Affordable Housing for Every Ghanaian; A Myth or Possibility”. 

I reiterated the need for a deeper collaboration between government and the private sector to create the needed opportunities to enable majority of our population to have access to decent, safe, secure, quality, and affordable housing.

It is against this backdrop that government is working on a framework to absorb the cost of land and infrastructural services for private developers in support of its Affordable Housing Programme. This, we believe, will be pivotal in addressing the supply-side constraints of the housing market.

On the demand side, Government has plans to scale up the National Housing and Mortgage Fund that was piloted in 2020 to stimulate the demand-side of the housing market and create more access to affordable housing for low-to-middle income earners. 

Government is also considering how prospective homebuyers could leverage on their Tier 2 and 3 Pensions fund to support their mortgages, especially the initial deposit.

Housing is an important instrument for economic development, since it has the potential to boost employment generation and it contributes to the manufacturing sector through the production of building materials and furnishing, as well as the the provision of both construction and mortgage financing.