Ghanaian business executive Dr. Sir Sam Jonah has questioned the financing behind luxury apartments in Airport Residential, Cantonments, and Labone that remain largely unoccupied, raising concerns about possible illicit funding sources.
Renowned Ghanaian business magnate and University of Cape Coast Chancellor Dr. Sir Sam Jonah has raised concerns about the proliferation of empty luxury buildings across Accra’s affluent neighborhoods.
Speaking on Starr Chat with Bola Ray on October 25, 2025, the veteran business executive questioned the economic logic behind expensive edifices in areas like Airport Residential, Cantonments, and Labone remaining vacant without generating revenue.
Dr. Sir Sam Jonah stated that if these properties were financed through legitimate sources such as banks, it would make no business sense for them to remain empty and not produce income for their owners.
The comments come amid growing public debate about Ghana’s rapidly changing skyline, where glittering towers and luxury apartments continue to rise despite questions about occupancy rates and the sources of funding behind these developments.
Article 286(4) of Ghana’s Constitution makes it unconstitutional for public officers to acquire property that cannot be traced to lawful income, gifts, loans, or inheritance. However, enforcement of this provision has remained limited.
Legal scholar Prof. Stephen Kwaku Asare, known as Kwaku Azar, has previously advocated for stronger Unexplained Wealth Laws in Ghana. Such laws would compel individuals to account for wealth that exceeds their known legitimate income streams. In October 2025, Prof. Asare proposed a 10 point plan focused on combating illegal mining financiers, demonstrating his ongoing concern about unexplained wealth in various sectors of Ghana’s economy.
The United Nations Convention Against Corruption encourages member countries to criminalize illicit enrichment and adopt mechanisms to recover assets that cannot be explained through legitimate means.
