Minister Advocates for Private Sector Partnership to Address Ghana’s Housing Deficit

The Minister for Works and Housing and Member of Parliament for the Ofoase-Ayirebi constituency, Kojo Oppong Nkrumah says it is necessary to partner with the private sector to develop affordable housing projects for Ghanaians. This approach is to address the current housing deficit by reducing costs for private developers and making housing more attainable for the public.

Mr. Oppong Nkrumah outlined several strategies to facilitate this partnership. One key measure involves utilizing government-owned land banks. By providing land to private developers, the government can alleviate the financial burden associated with land purchase and litigation issues, significantly reducing the overall cost of housing projects.

Additionally, the minister highlighted an initiative to incentivize private developers to construct 500 or more housing units, under this scheme, taxes on equipment imported for these housing projects will be waived. This tax relief is expected to further lower construction costs and encourage private investment in the housing sector.

Another significant aspect of the government’s plan is to relieve private developers from the responsibility of providing essential amenities such as roads, water, and electricity. Instead, these will be funded by the respective government ministries responsible for these utilities. For example, if a private developer constructs housing units, the Ministry of Energy will provide the necessary electricity infrastructure, allowing the developer to focus solely on building the structures.

“These incentives are designed to be competitive and accessible to all interested private developers,” Kojo Oppong Nkrumah stated. He also mentioned that he is yet to present all available information to Parliament, as adopting this approach will require amending some existing laws.

The Member of Parliament for the Ofoase-Ayirebi constituency is confident that these collaborative efforts with the private sector will significantly reduce Ghana’s housing deficit and provide affordable housing solutions for many Ghanaians.