We are using PPP arrangements to complete stalled housing projects – Oppong Nkrumah

The Minister of Works and Housing, Kojo Oppong Nkrumah has debunked claims that government is selling off state housing projects to private developers and politically exposed individuals.

The sector minister at a press briefing in Accra, on Monday, September 30, explained that the various ongoing projects will be completed under Public Private Partnership arrangements to provide accommodation for public sector workers.

Mr. Kojo Oppong Nkrumah said “I want to repeat for the umpteenth time, we are not selling Saglemi, we are not selling Adenta, we are not selling Koforidia to the private sector. We have invited private sector to participate with their funding and their technology. So, they bring in the capital, we use their money and their technology to finish the project.”

He added, “We are working in a PPP framework to complete these projects. The fact that the government of Ghana does not have money in the treasury to advance to us to finish doesn’t mean these projects will remain stalled. And so, we’re being innovative in raising private capital to finish these projects.”

Mr Oppong Nkrumah while giving update on government’s housing projects outlined plans being implemented to complete five housing projects that have stalled for several years due to various reasons.

“We had about five stalled housing projects, Boteyman, Asokore-Mampong, Koforidua, the State Housing Company’s project in Adenta, as well as the Saglemi affordable housing projects,” he said.

Giving an update on the Saglemi Affordable Housing Project, the sector minister noted that “As of September, two companies have been shortlisted by our transaction advisors and they have furnished the details of those two companies to us. We’ve also received executive approval from the president on a structure to use for negotiations to get the best value for the Republic of Ghana. And indeed, last week, the negotiations commenced with an inception meeting.”

The Saglemi Affordable Housing Project is a government of Ghana initiative to build some 5,000 housing units in Accra at a cost of $200 million. 1,506 housing units out of the 5,000 units were partially completed but the project has the change of government in 2017 stalled due some alleged infractions. The average price at the time we were told was going to be about $40,000 when they were done.

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