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Ecobank Ghana Managing Director Dan Sackey says the private sector must complement the government’s efforts to reduce the housing deficit in the country.
Sackey said that continued growth in the proportion of Ghana’s population living in urban areas had an adverse impact on the country’s deficit.
He said there is a need for banks to act not only as funders but also as facilitators, providing clients with appropriate payment platforms and solutions to the challenges they may encounter when owning a home.
“The task of providing good housing for the nation’s working class is enormous and cannot be assumed by the government alone, which requires strong participation from the private sector,” he said in a statement at the launch of the habitat fair. .
The statement said the launch brought together key public and private sector players in Ghana’s housing industry to explore ways in which they can offer truly affordable housing units to help close the growing housing deficit.
“We believe this will offer prospective homeowners a wide range of housing options to consider, as well as different financing options,” he said.
Ghana Real Estate Developers Association (GREDA) Executive Secretary Samuel Amegayibor said that affordable housing in Ghana is only possible if politicians agree to collaborate with local technocrats and private property developers.
According to him, political promises on housing remained largely rhetorical and unsustainable, hence the numerous unfinished government-led housing projects initiated by successive Fourth Republic governments.
He called on political leaders to follow suit in the lessons learned in handling the COVID-19 pandemic in Ghana and elsewhere.
“The pandemic has greatly affected businesses around the world, including the construction industry. The negative effects of COVID-19 have further highlighted the poor housing situation in Ghana, considering that our industry has received very little attention over the years from successive governments, ”added Amegayibor.
