By Morkporkpor Anku
Accra, Oct. 10, GNA – The National Housing Fund (NHF) Limited has completed a rapid diagnostic assessment of Ghana’s housing sector to guide the mobilisation of resources and investment into housing.
Mr Prosper Hoetu, Chief Executive Officer of the NHF, said a high-level summary of the assessment would be presented at the National Conference on Housing Finance in Accra.
He made this known at the opening of a two-day National Conference on Housing Finance on the theme: “Adequate Housing for All: Innovative Financing for Ghana’s Housing Future.”
Mr Hoetu said the assessment was conducted using the VIRAL Diagnostic Toolkit of Shelter Afrique Development Bank in partnership with the Ministry of Works, Housing and Water Resources.
The toolkit examined the Vision, Institutions, Regulations, Actors and Local Initiatives within Ghana’s housing ecosystem, he said.
According to him, the findings would inform the development of a Country Housing and Urban Development Partnership Strategy to provide a framework for mobilising resources and investment into the housing sector.
Mr Hoetu said the strategy would be developed after the conference, based on the findings of the diagnostic assessment and inputs from stakeholders.
He said the conference had brought together experts from Ghana and other countries to identify practical ways of expanding access to housing finance and addressing constraints on housing supply.
Discussions would also focus on technologies that promote green and climate-smart housing, as well as the increased use of non-interest banking and green financing for housing, he added.
Mr Hoetu said the NHF had facilitated the development of a homebuyers’ database, a multi-sided platform designed to provide real-time information on housing demand and supply in Ghana.
He said the platform would be showcased during the conference to enable stakeholders to provide inputs on how it could be improved to support the housing market.
The database, he noted, would help address housing offtake challenges by providing information on prospective homebuyers and housing demand.
Mr Hoetu said effective housing finance required a system that recognised the diverse circumstances of Ghanaians and provided multiple pathways to homeownership.
While mortgages could serve some households, he said, rent-to-own arrangements and social housing would be necessary for others who could not immediately qualify for mortgage financing.
The NHF Chief Executive said the conference was expected to adopt a Commitment Statement outlining actions stakeholders could pursue to strengthen housing finance and housing delivery.
He reaffirmed the NHF’s commitment to working with government, financial institutions, development partners and other stakeholders to develop a housing finance system capable of providing more Ghanaians with access to decent and affordable housing.
GNA
Edited by Lydia Kukua Asamoah
Reporter: Morkporkpor Anku
Email: [email protected]