The two hundred and four (204) housing units constructed under the National Mortgage Scheme (NMS) and the Affordable Housing Real Estate Investment Trusts (REITs) Scheme is estimated to have cost Ghs 45 million.
This, is according to the Finance Minister, Ken Ofori-Atta.
President Akufo-Addo on Monday, commissioned 204 affordable housing units built for public sector workers at Tema Community 22 in the Greater Accra Region.
According to the president, the two schemes set up through the National Housing and Mortgage Fund (NHMF) will in the long term help address Ghana’s housing deficits which currently stands at 2 million.
Speaking at the commissioning of the housing units, the Minister for Finance, noted that given the successful piloting of the schemes, his outfit is going to fund the NHMF with Ghs 1 billion to replicate the housing model built at Tema Community 22 across the country.
“Encouraged by the outcome, we are going to work assiduously to fund the NHMF with Ghs 1 billion as pledged in the 2019 budget and replicate the model communities across the country,” he stated.
“Covid-19 has affirmed the need for affordable housing and so we will put in more effort to ensure that the model is spread across the country to ensure that Ghanaians have affordable housing post covid under the NHMF,” the Finance Minister added.
He also noted that, the Finance Ministry will work with the Bank of Ghana to provide special mortgage terms for banks to be able to create 15 to 40 years long term mortgages to enable Ghanaians with low incomes and in the informal sector afford mortgages.