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The Saglemi Affordable Housing project is being completed with the help of investors who are willing to provide $100 million in private financing.
This was revealed by Minister of Works and Housing Kojo Oppong Nkrumah during a March 28 PM: Express Business Edition show that aired tonight on JoyNews.
The minister pointed out that “I have given instructions to the technical working group on this housing project and that within the next five weeks, they should go ahead with an international expression of interest that is designed to attract private developers and complete this project for use.”
The Minister also stated that “the working group for this project will articulate the timeline for the next steps within the five-week period when the expression of interest is issued.”
“At the end of this exercise, going into negotiations, we expect that the private partner the technical committee will settle, can help to quickly complete the project,” Kojo Oppong Nkrumah added.
Following Cabinet’s approval of the plan for finishing the project on time and opening it for public use, the Ministry of Works and Housing is moving forward in this manner.
As a result, the government formed a technical working group whose duties include making sure the project is completed on schedule and resolving any issues found during the thorough project assessment.
The affordable housing project must be completed before it can be made available to the public, according to the findings of a forensic audit, which the Minister of Works and Housing said. But considering the significant public expenditures already committed, the minister said, the President was insistent about not utilizing taxpayers’ money to finish the project. Thus, the choice to look for private funding to complete the remaining units.
The government’s commitment to finishing the project on schedule for public usage was reaffirmed by Minister Kojo Oppong. He also emphasized the need for suitable measures to alleviate Ghana’s housing gap, which is estimated to be approximately 1.8 million.
There have been concerns expressed about the project’s completion schedule, particularly in light of the administration’s approaching end of office. Some others wonder if it was wise to move forward with the fundraising effort and use private funding.
These worries were swiftly dispelled, though, by the Minister of Works and Housing, who emphasized that the project should be seen as a government effort and that government work is ongoing.
In summary, despite ongoing obstacles and worries, the government is committed to delivering on its promise to provide Ghanaians with affordable housing options.
Source: Ghanatodayonline.com
