Ghana’s housing deficit has hit 2 million units. This was revealed by the Minister for Works and Housing, Samuel Atta Akyea.
By this, 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.
The government announced an ambitious plan to 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.
Though the plan was announced in the 2019 Budget Statement and Economic Policy presented by the Finance Minister, Mr Ken Ofori-Atta, the government is yet to implement it.
Addressing the media, Mr. Atta Akyea who confirmed that the housing deficit has reached 2million units explained that there must 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” he revealed.
To this end, the minister has inaugurated 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.
The Committee members have till October 2020 to come up with relevant solutions to the housing crises.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana