Kojo Oppong Nkrumah, Minister of Works and Housing, has outlined the government’s strategy to lower housing prices by forging alliances with various ministries.
The initiative, involving partnerships with the roads, energy, and water sectors, aims to integrate infrastructure development into housing projects. By facilitating road construction, electricity connection, and water supply to housing units, the government seeks to alleviate developers’ financial burdens.
Ghana currently faces a housing deficit of 1.8 million units, prompting this collaborative approach to bridge the gap. In an interview, Minister Oppong Nkrumah emphasized that such synergies could slash housing unit costs by up to 30%.
“We are piloting synergies with other sectors of government. For example, roads, water, and energy. Why? Because when we build in those synergies, the developer doesn’t have to construct the road, extend electricity, or extend water,” Minister Oppong Nkrumah explained.
He highlighted the expected impact: “And it has the potential to reduce the cost of the final unit that is being sold, from what they are telling us, up to about 30%. That will help significantly to reduce the cost of projects in these master-planned communities.”
The government’s collaborative efforts signify a proactive step towards addressing housing challenges in Ghana, aiming to make housing more accessible and affordable for its citizens.
