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Business News of Wednesday, 21 October 2020

Source: www.ghanaweb.com

Govt to reduce housing deficit by 40% – Works and Housing Minister

Government through the Works and Housing Ministry is targeting a 40 percent reduction in the nation’s housing deficit in the next four years, the sector minister has said.

According to Samuel Atta Akyea, a comprehensive affordable housing master-plan is being put together to achieve the feat.

Addressing journalists following a working visit to some affordable housing constructions sites in Tema on Monday October 19 2020, the minister said government has already commenced several housing projects with associated financial mortgage schemes across the country.

“Let’s not project terribly, but we can give you a very strong indication that the deficit will be reduced considerably. If we are able to reduce the deficit by 40 percent, it means we have done fairly well because the deficit is 2 million housing units,” Samuel Atta Akyea projected.

He added, “If we push very hard in the districts and municipalities, and in the cities where we have teeming crowds of workers, we will give many permanent shelter. The president is seriously committed to reducing the deficit. If we do 40 percent that is a serious breakthrough; a lot of people would find places to rest.”

The visit to the affordable housing sites in Tema was accompanied by the Finance Minister, Ken Ofori-Atta.

According to Ken Ofori-Atta, government’s two main schemes backing national housing projects will see some significant reduction towards bridging Ghana’s housing deficit.

So far, some projects under government’s national housing and mortgage scheme include the reconstruction of the affordable housing projects at Tema in the Greater Accra Region being facilitated by the Tema Development Corporation (TDC) and Asokore Mampong Affordable Houses developed by the Social Security and National Insurance Trust (SSNIT) for the Ghana Medical Association (GMA) in the Ashanti Region.

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