Ghana

Works and Housing Minister-designate advocates for Housing Fund

The Works and Housing Minister-designate, Freda Prempeh, is advocating for the establishment of a Housing Fund.

The Fund, she said, will solicit for capital from consensual loans and other international models to ensure that one of the basic needs of Ghanaians, that is, shelter is constructively met.

“As I indicated earlier, I think the way to go is to set up the Housing Fund, look for sources of capital into the Fund and also incorporate other models from other African communities and we can look at other consensual loans among others,” she told Parliament’s Appointments Committee during her vetting Thursday.

She also indicated that for government to build affordable houses the Housing Ministry needs a well-tailored budget to boost the growth of the industry.

Madam Prempeh, who is also the Member of Parliament for Tano North, explained that undertaking housing projects are capital intensive, as such, when the method changes, it will reflect in its results.

“I will also want to propose that as a Ministry, we need a budget for Housing itself. Of course, you will all agree with me that housing is a capital intensive area, look at lands building materials, and all that so if we have that kind of budget at the Ministry, I think we will be able to roll out a number of houses in addition to the Housing Fund leveraging on the pension scheme,” she told Parliament’s Appointments Committee.

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