Business News of Thursday, 1 December 2022
Source: www.ghanaweb.live
2022-12-01Cabinet to receive new Ghana Housing Authority Bill soon - Asenso-Boakye
Francis Asenso-Boakye is the Minister of Works and Housing
The Ghana Housing Authority Bill is ready to be sent to cabinet and subsequently to parliament for consideration and approval, the Minister for Works and Housing, Francis Asenso-Boakye, has said.
He explained that this bill is expected to make housing affordable and accessible to Ghanaians who are low-to-middle-income earners.
Asenso-Boakye made this known while speaking as a guest
Read full articleat the Real Estate Experience Housing Fair organised by the Graphic Communication Group and the Ghana Real Estate Developers Association at the Silver Star Tower in Accra on Thursday, December 1, 2022.
In his address, the minister, who doubles as the Member of Parliament for Bantama in the Ashanti Region, indicated that the Ghana Housing Authority Bill will help complement the operations of the newly-created Home Ownership Fund, which is to stimulate the demand side of the housing market to make housing accessible to the low-to-middle income earners.
He said the authority, when established, will lead the supply side of the housing market and will not only serve as a regulator in the sector but also plan, develop and manage public housing in Ghana.
The lawmaker noted that the objective of setting up the Ghana Housing Authority is to 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.
Francis Asenso-Boakye added that this will streamline the transition from policy formulation, coordination, and monitoring through to the successful implementation of government-led housing programs.
“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 stated.
