SHC MANAGING DIRECTOR WOOS INVESTORS AT INVESTMENT SUMMIT IN UK

Mr Kwabena Ampofo Appiah, Managing Director of State Housing Company Company Limited has in far away United Kingdom wooed investors to come.to Ghana and invest in the real estate industry to help bridge the gaping housing deficit.

Speaking at the 2023 Ghana Investment and Opportunities Summit in London, United Kingdom, Mr Ampofo Appiah reiterated that SHC was well positioned and poised to partner credible investors to provide adequate housing to majority of Ghanaians.

He disclosed that the government had come up with a new housing scheme which required capital injection.

The summit saw the Vice President Dr. Mahamudu Bawumia give the keynote address.

Recounting previous government housing policies, Mr Ampofo Appiah said ” the Affordable Housing Programme commenced in 2006 during the tenure of former President J A Kufuor. Despite its promising beginning (with projects commencing in six 6 sites across the country the programme has not delivered the anticipated output and impact. The Housing project that started at Saglemi in 2013 has also failed to deliver on its target and goals, notwithstanding its own peculiar challenges”.

He observed that the lack of a comprehensive and well coordinated institutional and strategic framework, “Constraints in access to sustainable financing and a robust mortgage system, escalating prices of building materials and over dependence on imported materials, lack of policies and strategies targeted at the critical components that impact on the cost of housing units”.

He disclosed that the government has adopted a new housing policy to ” provide Affordable Housing in Partnership with the Private Sector. Adopt Cost Effective Housing Technology
and Reduce the Housing Deficit by 10% per Annum”.

According to him, Statistics reveal that 60 percent of Ghana’s urban population will need some form of government intervention to support them get access to housing.35 percent not able to access housing even with government support in terms of subsidy. The remaining 5 percent can support themselves in accessing housing.

He emphasised that “the goal of the government is to ensure that the standards of the affordable housing units do not compromise the quality of life of the prospective households.The government has taken account of building costs and affordability of targeted beneficiary households and determined the minimum space standards. Accordingly, the programme recommends proportional allocation of the investment in studio one (1) bedroom two (2) bedroom, and three (3) bedroom housing flats/apartments”.

He assured investors that SHC has unencumbered land to embark on mass housing project.

Currently, State Housing Company Limited has land banks in Wa, Tamale, Bolaganta, Goaso, Kumasi, Sefwi Wiawso, Achiase, Akyem Abuakwa, Koforidua, Cape Coast and more.

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