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RADP / Pulse Ghana  >  BI  >  Strategy

Ghana’s housing deficit has hit two million according to the country’s Housing Minister

Magdalene Teiko Larnyoh

Ghana’s Minister for Works and Housing, Samuel Atta Akyea has indicated the country’s housing deficit has hit 2 million units.

Minister for Works and Housing, Samuel Atta Akyea
Minister for Works and Housing, Samuel Atta Akyea

This means that the government would have to build 190,000 to 200,000 units of houses each year for the next 10 years to bridge the gap.

This is expected to cost around US$3.4 billion for the 200,000 units.

This is coming months after the government announced in the 2019 Budget Statement and Economic Policy that it will establish a GH¢1 billion mortgage and housing finance to leverage private capital while providing affordable housing for Ghanaians.

The fund is also to help bring down the housing deficit.

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Even though the plan was announced in 2018, the government is yet to implement it.

But Mr Atta Akyea said that the government is putting in place a long term measure to solve the problem.

“Unfortunately, this is a sorry situation in which we find ourselves in. No wonder we are struggling with a housing deficit which is now in excess of 2million housing units.”

This has led the minister to inaugurate a national housing committee on affordable housing.

While inaugurating the board, Mr. Atta Akyea charged members to work resiliently to help bridge the housing gap.

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The Committee members have until October 2020 to come up with relevant solutions to the housing crises in the country.

Magdalene Teiko Larnyoh Magdalene Teiko Larnyoh A feminist at heart and a lover of art. She loves to write on business, politics and health.

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