In an attempt to increase the awareness of the Ghanaian population both at home and the diaspora concerning housing and property ownership in Ghana, the Managing Director for the State Housing company Mr. Kwabena Ampofo Appiah (Nana Vyrus) joined in a question-and-answer session with members on the “National Development Agenda” Club house platform on the 3rd of March 2021. Club house is a networking app gaining popularity among the Ghanaian youth which serves as an easier avenue to freely interact with users across international borders based on audio-chat. The National Development Agenda platform set up by Kobby Ofori, Kwame Boateng, Akosua Tiana and Lucy allows for idea sharing on a wide range of developmental topics in Ghana.
MD for SHC Mr. Kwabena Ampofo Appiah
During the conversation, questions asked cut across functions of the SHC to measures put in place to encourage private investors. Mr. Appiah answered all questions comprehensively while entreating members, especially the diaspora, to take advantage of the unbeatable prices offered by the SHC to own a home in Ghana. He mentioned that the housing deficit in Ghana stands at close to 2 million which would require 200 000 houses to be built annually for the next decade. However, the public and private sector combined are only able to deliver about 40,000 housing units a year. The State Housing Company is therefore charged with the construction of housing units that cater across all levels of income to bridge the gap in housing deficits that presently exists.
Mr. Appiah acknowledged the bottlenecks the State Housing Company, since its existence in the 1950’s, has experienced in delivering efficiently its mandate of producing affordable housing for the ordinary Ghanaian. Change of governments, and previously, the absence of a definite long-term plan to begin new projects and ensure completion of already existing projects contributed to the stall.
However, he noted that, since the government of His Excellency Nana Addo Dankwa Akufo-Addo and management of Mr Kwabena Ampofo Appiah, the SHC has tremendously positive reforms have occurred which have transformed the SHC; conversion into a limited liability company, relaunch and rebranding, cleared debts. According to the Managing Director, demand for the housing units constructed is high with almost all homes sold immediately after
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He continued that, the company has a mortgage system which allows Ghanaians-both home and in the diaspora-who wish to become proud owners of homes to opt for a suitable arrangement for flexible payment schedules. He further shared that prices for homes constructed by the SHC range between eight thousand Ghana Cedis (Ghc 80 000.00) to One million and three hundred thousand Ghana Cedis (Ghc1,300,000.00) which can be paid either upfront or on a mortgage basis. Mr. Appiah further revealed that the interest incurred on mortgage plans is set between 7% to 12% which is comparatively lower to that of private property agencies.
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The question-and-answer session with the Managing Director of the State Housing Company ended with members who joined in well informed of the mandate of the SHC and the process involved in purchasing a home with the company. The MD reiterated the importance of having such open conversations on activities of state institutions as they play a role in ensuring accountability and increasing the capacity of citizens to capitalize on such benefits offered by the institutions to improve the standard of their lives.
Written by Amanda Baffour-Awuah