Ghana: 10,000 housing units project gets good financing node

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Investors have indicated the willingness to provide funds for the 10, 000 housing unit at Amasaman, Ghana. Minister of Water Resources, Works and Housing has indicated. Agu Resources has, through its Director of Operations Christine Dadson, also indicated that necessary arrangements are in place with local contractors and designers to undertake the first phase of the project.

The first phase of the project is expected to deliver 3000 units. According to the Alhaji Coliins Dauda, the Minister of Water Resources Works and Housing, several partners have shown interest in funding the project.

“They have given us very clear indications that they are willing and ready to partner Agu Resources and for that matter the government of Ghana to develop the project,” he added. Vnesto Capital, one of the investors has indicated, through its Managing Director Mr Ricardo Tejada, that they would finalize on funding plans soon.

However, government is now relying on Public/Private Partnerships compared to previous strategies of securing loans through state institutions, for instance the State Housing Company and the Tema Development Cooperation to implement such projects.

“We are going to ensure that as many Ghanaians as possible are included in the project and also ensure the highest quality using innovative technology” said Christine Dadson, Director of Operations, Agu Resources.

Pumptech had earlier indicated that it would construct 21,600 affordable houses in Tamale.