The Ministry of Works and Housing and Water Resources has officially inaugurated governing boards for the Real Estate Agency Council, Public Servants Housing Loan Scheme, and the State Housing Company Limited to bolster efforts toward solving Ghana’s housing challenges.
The new Board for the State Housing Company Limited has been tasked with mobilising innovative funding to support major national housing programmes.
These include the Pokuase-Afiaman Housing Project, the Dedesua Affordable Housing Project in the Ashanti Region, and the broader District Housing Programme aimed at delivering quality homes across all districts.
“These projects are not only central to our housing goals, but also have the potential to generate significant employment, support local industries, and deepen economic inclusion,” stated sector Minister, Mr Kenneth Gilbert Adjei.
He urged the Board to explore creative public-private partnerships, access long-term institutional capital, and tap into the growing interest in climate-resilient and green housing finance. He noted that the company must now reposition itself as a continental leader in affordable housing innovation, beyond simply building homes.
Speaking during the inauguration of the Public Servants Housing Loan Scheme Board, Mr Adjei outlined the Board’s key mandate of supporting public servants to build or refurbish homes, repay existing loans, and purchase homes through accessible mortgage arrangements.
He added that outreach to public servants through strategic communication and efficient service delivery would be crucial to the Scheme’s success.
He acknowledged that the absence of a governing board for the past eight years hindered progress. “For instance, several schools of thought have argued that the scheme could reconsider its interest rate to adopt one that would possibly position the Scheme to attract external funding towards expanding its operations. This will require a significant change in the legal and regulatory frameworks that have governed the Scheme’s operations. Accordingly, I urge you to prioritise advancing policy reforms by critically reviewing the mandate to consider the amendment of the PSHLSB Decree (N.R.C.D 319),” he added.
Mr Adjei noted the importance of modernising the Scheme, potentially introducing a home rental initiative and adjusting interest rates to broaden funding sources.
Addressing the Real Estate Agency Council Board, the Minister described their charge as ambitious yet feasible, tasking them to be a “model, modern, and innovative real estate agency regulatory body.”
“This is an ambitious, yet achievable goal. Your mission is to regulate this ecosystem through licensing, standard setting, robust policies, and effective regulatory frameworks – all for the sustainable development of our beloved Ghanaian economy,” he said.
He encouraged the Board to ensure their core values – Professionalism, Integrity, Customer Focus, Transparency, Equity, and Innovation – guide every policy and decision. Their responsibilities include maintaining a public register, establishing education programmes, enforcing standards, and ensuring compliance.
Mr Gerald Baffour Awuah Bonsu, the new Chairman of the Public Servants Housing Loan Board, pledged the Board’s commitment to aligning with the President’s vision to “Reset Ghana” by improving governance and delivering measurable change. “We will stay focused on building sustainably and affordably with local materials, as we expand access to decent housing for the people who deserve our nation,” he stated.
Mr Ralph Roland, who chairs the State Housing Company Limited Board, expressed determination to restore the company’s leadership role in national development. With innovation, transparency, and a bold mission, he believes the housing sector can regain the confidence of Ghanaians.
According to Mr Roland, the Board is fully aware of the sector’s deep-seated challenges and will implement strategic interventions to reduce the housing deficit and provide decent accommodation for citizens.
Source: Myjoyonline.com
