ElvisAnokyenews Latest News Portal
The Ministry of Works, Housing and Water Resources has inaugurated new governing boards for three critical institutions under its purview: the Real Estate Agency Council, the Public Servants Housing Loan Scheme Board (PSHLSB), and the State Housing Company Limited.
The inauguration of the boards forms part of a strategic move by government, through the Ministry, to strengthen the delivery of affordable housing and enhance regulatory oversight within Ghana’s real estate sector.
Speaking at the inauguration ceremony, thesector Minister, Hon. Kenneth Gilbert Adjei charged the newly sworn-in members, particularly of the State Housing Company Limited, to prioritise innovative financing models that will unlock investments for flagship national housing projects.
He explained the need for collaboration between the board, management, and the Ministry to roll out practical and sustainable financing strategies for key housing initiatives such as the Pokuase-Afiaman Housing Project, the Dedesua Affordable Housing Project in the Ashanti Region, and the broader District Housing Programme, which is aimed at ensuring every district in Ghana benefits from quality and accessible homes.
The Minster also urged the Public Servants Housing Loan Scheme Board to critically evaluate its operational mandate and consider revising its interest rate policies to attract external funding and expand its coverage.
“These projects are not only central to our housing goals, but also have the potential to generate significant employment, support local industries, and deepen economic inclusion.
“For instance, several schools of thought have argued that the scheme could reconsider its interest rate to adopt one that would possibly position the Scheme to attract external funding towards expanding its operations.
“This will require a significant change in the legal and regulatory frameworks that have governed the Scheme’s operations. Accordingly, I urge you to prioritise advancing policy reforms by critically reviewing the mandate with a view to considering the amendment of the PSHLSB Decree (N.R.C.D 319).” He said.
Hon. Kenneth Gilbert Adjei stressed on the need for robust policies, licensing regimes, and effective regulatory structures, especially for the Real Estate Agency Council, which is responsible for regulating real estate practitioners in the country.
He reaffirmed the Ministry’s commitment to building sustainably and affordably, with a deliberate focus on using local materials and ensuring housing delivery is inclusive and accessible.
“This is an ambitious, yet achievable goal. Your mission is to regulate this ecosystem through licensing, standard setting, robust policies, and effective regulatory frameworks – all for the sustainable development of our beloved Ghanaian economy.
“We will stay focused on building sustainably and affordably with local materials, as we expand access to decent housing for the people who deserve our nation.” He stated
Source: Elvisanokyenews.net
