Vice President Bawumia Commissions 1,072 Kpone Affordable Housing Units and Breaks Ground for Phase 4
The Vice President of Ghana, Dr. Mahamudu Bawumia, has inaugurated the 1,072-unit Kpone Affordable Housing Project, marking the completion of Phases 1 to 3 of the initiative. The event, held on Monday, November 25, 2024, also featured a groundbreaking ceremony for Phase 4, which is set to add 800 more units, bringing the total number of homes in the project to 1,872.
Reviving a Stalled Initiative
Originally launched in 2006 under former President John Agyekum Kufuor, the project faced prolonged delays during subsequent administrations due to insufficient government investment. However, it has been revitalized under the current Akufo-Addo-Bawumia administration, providing much-needed housing for Ghanaians.
Vice President Bawumia highlighted the government’s dedication to addressing Ghana’s housing deficit through innovative policies and robust partnerships.
“The lack of a robust, long-term mortgage system has made it difficult for many prospective homeowners to access affordable financing. The housing and mortgage markets are critical to the economy, as they are in advanced economies where they amount to trillions of dollars,” Dr. Bawumia stated.
A Decade of Housing Programme
Dr. Bawumia announced plans for a ‘Decade of Housing Programme’, aimed at addressing Ghana’s 1.8 million housing deficit. He emphasized the use of Public-Private Partnerships (PPP) as a sustainable model, citing the success of the National Home Ownership Fund.
“We have seen the impact of the Year of Roads. Now, we will usher in a Decade of Housing to address our housing needs. With a proven PPP financing model, we are determined to solve this housing challenge,” he added.
Government’s Broader Achievements in Housing
The Minister of Works and Housing, Kojo Oppong Nkrumah, praised the Kpone project as a milestone in bridging Ghana’s housing gap.
“Phases 1, 2, and 3 of this transformative project have delivered 1,072 housing units. This success reflects exceptional government leadership and the expertise of contractors involved,” he said.
Since 2017, the government has delivered over 10,000 homes through various initiatives, including more than 1,000 units for security services. The Minister also highlighted efforts to complete stalled projects, such as the Adenta SHC flats and the Saglemi housing units, which have been handed over to private partners for financing and completion.
Expanding Ghana’s Housing Stock
During his visit, Dr. Bawumia inspected ongoing work on Phases 2 and 3 of the National Housing Fund (NHF) estates near Kpone, which will contribute an additional 534 homes to the country’s housing stock.
The Vice President reaffirmed the government’s commitment to building an inclusive housing sector and pledged that future administrations under the New Patriotic Party (NPP) would expand these efforts, creating jobs and driving economic growth.
“We are determined to build a vibrant housing sector that benefits all Ghanaians. These efforts will be scaled up in the coming years to create thousands of jobs and contribute significantly to our nation’s development,” Dr. Bawumia concluded.
