Vice President Dr. Mahamudu Bawumia has inaugurated 1,072 homes as part of the Kpone Affordable Housing Project, while also breaking ground for 800 additional units under the project’s Phase 4. The development aims to address Ghana’s significant housing deficit, currently estimated at 1.8 million units.
Highlights of the Event
- Project Progress:
The Kpone Affordable Housing Project, initiated in 2006 during President John Agyekum Kufuor’s administration, had stalled during subsequent administrations but has been revived under the Akufo-Addo-Bawumia government.- Phases 1–3: Delivered 1,072 housing units.
- Phase 4: Will add 800 more homes, bringing the total to 1,872 units.
- Public-Private Partnership Model:
Dr. Bawumia emphasized leveraging Public-Private Partnerships (PPP) as a sustainable model for financing and delivering affordable housing projects. He introduced the idea of a Decade of Housing Programme to systematically address the housing deficit.“What I will be ushering in, God willing, is a decade of housing for us to address our housing needs,” he stated, referencing the success of PPP initiatives like the National Home Ownership Fund.
- Mortgage Market Development:
Dr. Bawumia highlighted the need for a robust mortgage market, aligning it with global economic trends where the housing sector plays a crucial role in economic stability.
Broader Government Achievements
- Housing Initiatives Since 2017:
- Over 10,000 homes delivered through various government-led projects.
- Housing for security services: Over 1,000 units provided.
- Completion of stalled projects, including the Adenta SHC flats and Saglemi units (through private partnerships).
- Inspection of NHF Estates:
Dr. Bawumia inspected ongoing works on Phases 2 and 3 of the National Housing Fund Estates, set to add 534 homes to the national housing stock.
Remarks from Officials
- Minister of Works and Housing, Kojo Oppong Nkrumah:
He commended the government’s leadership in bridging the housing gap, describing the delivery of the Kpone units as a transformative milestone.“Phases 1, 2, and 3 of this transformative project have delivered a remarkable 1,072 housing units… This reflects the exceptional leadership and commitment of government and contractors alike.”
Economic and Social Impact
Dr. Bawumia emphasized that affordable housing projects not only address critical social needs but also contribute to economic growth through job creation and the stimulation of allied industries.
With the December elections approaching, he assured Ghanaians that a continued NPP administration would further strengthen housing development and tackle the housing deficit comprehensively.
“The next NPP government will build on these efforts, creating thousands of jobs and significantly contributing to economic growth.”
The Kpone Affordable Housing Project represents a significant step towards reducing Ghana’s housing deficit while showcasing the potential of PPP models to drive sustainable infrastructure development.
