NEWS

Govt. Teams Up to Slash Housing Prices – Kojo Oppong Nkrumah Reveals

The Ministry of Works and Housing has reaffirmed its commitment to reducing housing prices through strategic collaborations with other government sectors.

A man in a suit and tie speaks into a microphone, gesturing with his other hand against a blurred background.

Sector Minister Kojo Oppong Nkrumah highlighted the government’s plan to partner with ministries responsible for roads, energy, and water resources to alleviate the financial burdens associated with housing development.

This initiative aims to address Ghana’s substantial housing deficit, currently at 1.8 million units. By coordinating efforts with other sectors, the government seeks to cover the costs of essential infrastructure, such as road networks, electricity, and water connections, which are typically shouldered by developers.

In a recent media interview, Oppong Nkrumah explained, “We are piloting synergies with other sectors of government. For example, roads, water, and energy. When we build in those synergies, it means the developer doesn’t have to construct the road himself, extend electricity himself, or extend water.”

He emphasized that this approach could potentially reduce the cost of a housing unit by up to 30 percent, significantly easing the financial strain on developers and buyers alike.

The minister expressed optimism that these collaborative efforts will contribute to reducing the cost of housing projects in master-planned communities. By integrating resources and expertise across various sectors, the government aims to create more affordable housing options for Ghanaians and make a substantial impact on the housing market.