Ghana to construct 10,000 affordable housing units

18 February 2019

The government of Ghana has signed an agreement
with Solin, a Hungarian company to construct 10,000 affordable
housing units across the country.

According to the Minister for Works and Housing, Samuel Atta Akyea, the project came at a time
when the country was facing a 1.7 million housing deficit.

The project dubbed Rapid Housing Technology will
use polystyrene concrete technology to provide fast and cost effective housing
units for Ghanaians. Signing of the agreement between the public and private
companies commences construction of the housing units.

Solin will finance and build the affordable housing
under a Public-Private Partnership (PPP).

Part of the project is establishment of a Solin
factory. András Szabó, Ambassador of Hungary to Ghana said that once the
company is established and the materials to construct the rapid housing
technology are produced locally, Solin will be able to construct 2000 housing
units annually.

“Establishment of the Solin factory in Ghana will
help the government’s One District One Factory initiative that is aimed at
providing employment for Ghanaians,” said Atta Akyea.

Solin is partnering with Sino Africa Development
Company Limited who will execute the civil works so as to meet the local
construction standards and to transfer the technology to the local partners.

Once Solin completes the construction, the
government will absorb the housing units which will then be presented to the
citizens at flexible and affordable terms. Ghanaians will be able to own the
houses at an affordable price through the mortgages that will be created by the

Moreover, Ghana has established a US $190m mortgage and housing finance with a seed of US $19m every fiscal year for the next 5 years in order to address the country’s housing deficit.

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