Ghana’s “My Home My Peace,” affordable housing program begins, with its main aim to make housing accessible to all segments of society, ushering in a new era of affordable and sustainable housing solutions for its citizens. Under this initiative, the government will subsidize housing units with land and infrastructure to reduce construction costs. Private sector developers will complement these efforts by raising funds to build apartments on a cost-recovery basis. The project will be carried out in two phases, with 4,000 units to be completed in each phase within an 18-month timeframe.
To ensure the successful execution of the program, five experienced developers—Rehoboth Properties, State Housing Company Limited, Devtraco Group Limited, FrankPauls Ventures Company Limited, and Douja Promotion Addoha Groupe Limited—have been entrusted with the construction. The government’s commitment includes providing land, on-site infrastructure such as roads, drainage, electricity, water, and social services, as well as mortgage subsidies.
The approved Master Plan for the program extends beyond Pokuase to include four adjoining local assemblies, creating a wider catchment area. Additionally, the housing units will offer various amenities, such as football fields, tennis courts, volleyball courts, basketball courts, swimming pools, and children’s playgrounds, to serve the surrounding communities.
The “My Home, My Peace” program also considers the demand side of the housing market. The successful National House Ownership Fund model will facilitate labor unions’ access to mortgages and well-structured payment plans for their members.
Main Challenges Facing Ghana’s Affordable Housing Program.
Public housing is facing challenges, such as policy failures and project delays, leading to a dominant role for the private sector. However, private housing often remains unaffordable for low and middle-income urban populations, resulting in slums and segregation. To address housing inequalities, a rethinking of public housing became necessary. President Akufo-Addo reiterated the housing program’s objective: increasing the production of affordable housing units and establishing a reliable and sustainable demand side accessible to all Ghanaians, including those residing in the Diaspora.
The Minister of Works and Housing, Francis Asenso-Boakye, shared insights into Ghana’s “My Home My Peace” affordable housing program framework, comprising the supply-side and demand-side strategies. The supply-side involves the government providing free unencumbered land and associated infrastructure to private developers for construction. On the demand side, the government, through the National Homeownership Fund, will provide subsidized mortgages for some completed housing units. The program has gained the support of trade unions, ensuring a steady demand for housing units and contributing to the initiative’s overall success.
Also read Construction firm aims to boost affordable housing in Ghana.
