The private sector must complement government’s efforts in bridging the housing deficit in the country, The Managing Director of Ecobank, Ghana Mr Dan Sackey has said.
Mr Sackey said the continuous growth in the proportion of the Ghanaian population that lives in urban areas had an adverse impact on the country’s deficit.
He said there was the need for banks to act not only as financiers but as facilitators as well, providing customers with suitable payment platforms and solutions to the challenges that they may encounter in owning homes.
“The task of providing good accommodation for the nation’s working class is enormous and cannot be borne by government alone, requiring strong participation from the private sector,” a statement quoted him as saying at the launch of the habitat fair.
The statement said the launch brought together key public and private sector players in the housing industry of Ghana to explore ways by which they can deliver truly affordable housing units to help bridge the ever-widening housing deficit.
“It is our belief that this will offer prospective homeowners a wide range of home options to consider, as well as different financing options,” he said.
The Executive Secretary of the Ghana Real Estate Developers Association (GREDA), Mr Samuel Amegayibor said affordable housing in Ghana was only possible if politicians would agree to collaborate with local technocrats and private real estate developers.
According to him political promises on housing largely remained a rhetoric and unsustainable, hence the many unfinished government-led housing projects initiated by successive governments under the fourth republic.
He called on political leaders to take a cue from the lessons learnt in handling the COVID-19 pandemic in Ghana and elsewhere.
“The pandemic has greatly affected businesses everywhere, including the construction industry. The negative effects of COVID-19 have further exposed Ghana’s poor housing situation, bearing in mind that our industry has received very little attention over the years by successive governments,” Mr Amegayibor added.