The Minister for Works and Housing, Hon. Francis Asenso-Boakye (MP) has indicated that the establishment of the Ghana Housing Authority (GHA) is expected to complement the operations of the newly created Home Ownership Fund and ultimately boost home ownership in the country.
The newly created Home Ownership Fund was instituted to stimulate the demand side of the housing market to make housing accessible to low-to-middle-income earners.
Speaking at the launch of the Real Estate Experience in Accra on the theme “Home Ownership through Collaborative Efforts of Individuals, Institutions and Industry”, the sector Minister said, the GHA Bill is currently ready to be sent to Cabinet and subsequently to Parliament for consideration and approval.
The establishment of the GHA as indicated by the Minister will bring solutions to the many challenges confronting the housing market that have rendered home ownership complex and expensive venture for many people.
Asenso-Boakye explained that the GHA will also decouple the planning, development and management of public housing of the Ministry from its core mandate of formulating, coordinating and monitoring the implementation of housing policies.
This, he said, will ensure successful implementation and continuity for government-led housing programmes which usually fail due to political manipulations.
“In recent times, most implemented government-led housing projects have not achieved the desired outcomes and impact for which they were conceived, primarily because the feasibilities, conception, planning, development and management of these projects are not handled by professionals, and as a result, were influenced largely by political considerations”. He noted.
As government intends to open up avenues for easy homeownership opportunities through the GHA and the Real Estate Agency Council, Asenso-Boakye called for collaborative efforts from industry players, individuals and institutions to make homeownership a reality for the Ghanaian public.
He commended the Graphic Communications Group and the Ghana Real Estate Developers Association (GREDA), for providing a platform for industry players to meet and deliberate on key issues regarding home ownership.
The Managing Director of Graphic Communications Group Limited, Mr Ato Aful said their main motive for collaborating with GREDA is to be an anchor to disseminate the needed housing information to the public, adding that housing is an essential aspect of society that requires players to come together to discuss and proffer solutions to decrease the housing deficit in Ghana.
The GREDA President, Mr. Patrick Ebo Bonful lauded the organisation of the event and believes it will serve as an avenue to inform the public on the various housing schemes available and how to access them.