Encourage local production of building materials, Mike Ocquaye
Housing industry holds key to development, Asenso Boakye
The housing deficit amounts to 2 million
A former Speaker of Parliament, Reverend Professor Aaron Mike Oquaye, has said that banks and financial institutions can help bridge Ghana’s housing deficit by providing loan facilities on concessional terms to housing companies.
He instructed the Bank of Ghana to order banks to allocate a certain percentage of profits to soft loans for housing.
“Banks and other financial institutions should look to these things by offering lending facilities on favorable terms. The Bank of Ghana should direct each bank to commit a certain percentage of its profits to soft loans for housing.
“In addition, we should also consider producing building materials locally to help bring down prices,” he said.
He made the call during the opening of Knightsbridge Luxurious Affordable Housing at Kwabenya in Ga East Municipality by Rehoboth Properties Limited.
Minister of Public Works and Housing Hon. Asenso-Boakye said the government is working with the private sector to solve Ghana’s housing problems.
“So it is without a doubt that the housing industry, as in many economies, holds the key to the development of our country, I am encouraged by the role Rehoboth Properties is playing in addressing the enormous challenges facing the industry” , did he declare. said.
“Housing has become one of the critical development issues facing us as a country. The government has prioritized the delivery of affordable housing to fill the gap and increase access to various affordable housing programs, thereby reducing the housing deficit.
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