Ghana needs efficient mortgage system for affordable housing – Minister
Ghana needs to establish an efficient mortgage system to enable ordinary Ghanaians to access decent and affordable housing, Mr Enoch Teye Mensah, Minister of Water Resources Works and Housing (MWRWH) said on Friday.
The Sector Minister made the remarks when Mr Rajinder Bhagat, Indian High Commissioner to Ghana, paid a courtesy call on him in Accra, ahead of the visit of an official housing and construction delegation from India into the country.
The delegation, which is expected to visit the country by next week, is from Punglliod Company, a three-billion-dollar housing and construction firm, interested in starting their business operations in West Africa, particularly Ghana.
Mr Mensah, who welcomed the noble intention of the Indian company, stressed that it would be useful to learn from the Indian experts on the housing techniques to solve Ghana’s rapid urbanisation problem, especially in the city of Accra.
He said the housing deficit in the country stood at 1.4 million, adding that, the situation was worrying.
Mr Mensah gave the assurance that Government was committed towards welcoming private and public sector partnership in the water and housing sectors for development.
Speaking to the Ghana News Agency later, Mr Bhagat said management of Punglloid Company chose Ghana as a worthwhile destination because of her democratic credentials, respect for rule of law, political stability and a conducive business environment.