$46 million in additional financing needed to revive Saglemi Housing Project – Akufo-Addo

President, Nana Addo Dankwa Akufo-Addo, has said that an additional financing of about $46 million is required to completely revive the Saglemi Housing Project.

This, he said, is in addition to the $198 million already invested in the project.

Speaking at the sod-cutting ceremony for the Pokuase Housing Project on August 1, 2023, the president indicated that

Read full articlethe Ministry of Works and Housing has been collaborating with the Ministry of Finance, the Attorney General's office, and Cabinet to revive the Saglemi Housing Project.

According to him, the additional money required will be used to take care of some off-site essentials such as water, electricity, and storm drains to mitigate flooding.

“However, in the meantime, to fore store the project from deteriorating, the minister for works and housing, has actively engaged the cabinet, the ministry of finance and the office of the attorney general on the completion of the project.

“It has been established that in addition to the $198million already spent on the project, government has to raise additional financing to the tune of $46million to complete the off-site frustration work that is water, electricity and storm drains to mitigate flooding,” he said.

Acknowledging delays and setbacks encountered during its execution, President Akufo-Addo emphasised that the government is committed to preventing further deterioration of the Saglemi Project while the investigation proceeds.

“It is important also to address the challenges faced by the Saglemi Housing Project which the minister for housing alluded to.

“We are aware of the delays and setbacks encountered during the execution of this project. The issues about the scope of work and the monies spent on the Saglemi Project have been taken to the criminal investigations division of the Ghana Police Service for investigation. Which has resulted in a criminal judicial proceeding,” he said.

The Saglemi Housing Project has been a significant undertaking for the previous government. It aimed at providing affordable housing and reducing the housing deficit in Ghana.

However, the project has faced a lot of scandals and procurement breaches. As a result, even though the project has been completed, it has been left to deteriorate.

The Nana Addo-led government claims that it is investigating these scandals before the project can be utitlised.

Ghana's housing crisis is a well-known problem that has persisted for decades. Despite the government's efforts to tackle the issue, many Ghanaians still struggle to find affordable and quality housing. One of the reasons for this is the exorbitant prices charged by developers for their houses.

Presently, Ghana has a staggering housing deficit of about 1.8 million according to the Ghana Statistical Service (GSS). This is partly due to higher rental rates, mortgages, building materials, etc.

NW/WA