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Open Letter To The Minister Designate, Works And Housing; Ghana’s Housing Crisis Beyond The Rhetoric – How Differently?

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Newly built 3 bedroom house for rent in East legon house to rent in accra house for rent in accra accommodation real estate consultant in Ghana Real estate developer in Ghana 1

It’s a well-known fact that Shelter remains one of the basic needs of human survival and have profound impact on man’s lifestyle and behaviors. Its same behavior driving me to put across my hydra headed social problem.

Many a Ghanaian prefers to build and own their houses progressively so that they would proudly go home to a shelter after a hard day’s work with inscription such as– “My Own Jerusalem”, “Zion”, “House of Grace” Nyame Nsa”, “Aseda House” etc. In fact, finding a suitable accommodation is a major quarter life crisis for many Ghanaians.

Ghana currently have a social housing problem from many years of leadership inertia which gnaws at the very fiber of our existence as a people. The Ghana Statistical Service estimated that Ghana had a deficit of 1.7 Million units and was projected to hit 2 million units before 2020 and therefore needed to build a minimum of 170,000 housing units annually to make up for the shortfall.

The Executive Secretary of Ghana Real Estate Development Association (GREDA), Mr. Samuel Amegayibor, in a Real Estate forum organized by Canada-Ghana Chamber of Commerce in Accra, however gave a grimmer picture of the situation when said the total housing shortage would reach 5.7 million by the end of 2020. Other report by Business World Ghana in 2012, indicated that approximately 5.5 million people are living in slums and the population is projected to grow to 7.1 million by 2020.

Governments of Ghana programme which was aimed at building affordable housing projects for the middle class and the so-called poor have largely not served the intended interest group. For instance, the Affordable Housing project started by President Kuffour and dotted across the country were put on a long hold for the 8 years of Atta Mills /Mahama administration. Not much progress was made until the NPP returned to clear the snags.

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Also, the Saglemi Affordable Housing Project which started under the Mahama government has stalled over allegations that the country was shortchanged with the provision of 1,500 housing Units as against the projected 5000-housing units, remain at the mercy of the scorching Ghanaian weather.

Whilst all the complicity and political chicanery go on, the common Ghanaian tenant is trapped at the mercy of Landlords and Tenancy Agents who have taken advantage of government and policy feet-dragging of supplying houses to conspire to charge cut throat prices whilst the Rent Control Department also looks on unconcerned.

The Rent Control Department has been as passive an institution as their supervisory and regulatory roles are not realized on the Rent Housing market leaving Ghanaians to pay the brunt of government feet dragging.

I read an aspect of the Rent Act Law that says to the effect that rent shall not be charged more than 6 months…. And that Landowners who charge more than 6 months perpetrate illegality. the opposite however, remains the norm. I believe that if tenants had their way would stick to the rule but don’t be surprised that the same Landlords would come with some alibi saying there was emergency need of the room.

 

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As young family who seeks to rent a decent self-contained self-compound at a so-called prime location may have to cough something in the ranges of GH₵1,500 per month and some above. Houses that used to charge between GH₵250.00 to GH₵400.00 some 3 years or so, have surprisingly shot up to GH₵700.00, GH₵800.00 and above. Whilst all this goes on, the economic and income dynamics have not change, how do you raise such an amount money? You are sure to be asked if you knew the price of a cement if you requested a price reduction. This same house may have been advanced in age and investment recouped already and ought to be best described as a “scrap” in the literal sense of the word.

It seems to me that the cross sectorial approach that has to be brought to bear on all stakeholders like the District Assemblies, Landowners, the Ministry etc has never been exhausted to  help bring sanity and order on the rent market space, making  landowners and their  agents to unduly extort moneys from Ghanaians in a form price increment.

In the words of the GREEDA Secretary, 50% of the Ghanaian population live in sub-standard houses. He said “all the houses that you see by the standards for relieve for human beings to live in are not up to the task”. Adding that “If you go to places like Abeka Lapaz, Chantan and McCarthy Hill, all the houses you see there are just houses but they don’t fit the standard for living. It hasn’t gotten there yet. So, you can imagine how life will be for those living there”. The problem as illustrated in these areas are microcosm of the bigger housing crisis across the country, especially Accra.

Most of these building facilities which come with high prices, don’t have state of readiness in terms of toilet and bathhouse facilities built into them. Nonetheless, some landlords do retrofit on old houses with the aim of further increasing their rent prices. These same Landlords who often default on their property rate to the Assemblies would often remind their tenants of that aspect of expenditure and the need to pay more.

It’s my considered view, that, if we had a price ceiling threshold with certain categorization in terms of years, location and other demographic scenarios, land owners especially those with older houses shall not charge above a certain amount as they would have recouped their investment on the building  and worth being considered a “scrap” in the literal sense of the word. Again, if the regulatory agencies are able to effectively follow through with their supervisory mandate, that would bring a bigger relieve to Ghanaians.

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There are other germane issues that government must step up effort to address with land acquisition being one of the thorny bottlenecks. If one has to cough an amount of say 20,000 for one plot of land whose land measurement has no national standardized measurement then there is a great cause to worry. The standard measurement for a plot of land in Ghana as it stands varies and it’s solely the prerogative of the landowners.

This unregulated market put the common Ghanaian at the mercy of predators at every value chain of our existence. One wonders the role of public institutions like the Lands Commission and Ghana Standards Authority in the narrative.

The private financing and mortgage institutions should partner with Government with schemes that alleviate the hardship of Ghanaians, especially now that the COVID-19 pandemic has put a lot of strain on Ghanaians.

I call for a coherent all-encompassing National Housing and Affordable Rental Policy Framework that installs sanity into the system. On the emergency side, parliament ought to replace the existing moribund Rent Act of Ghana (ACT 220) which was passed in 1963 and has been largely ineffective. Also, the political will from the Executive Branch would be instrumental to tackling the existential security threat due to the implosion Ghanaians caused by the housing crisis.

As the minister designate for works and housing, Hon.Francis Asenso-Boakye, prepares to face the Vetting Committee of Parliament, I wish  honorable members of Parliament would do us the public good by painting the true picture of the situation on the ground as gathered from their constituents and eliciting the right actionable responses from him on how he intends to increase the housing stock and addressing Rent Housing concerns

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At this point, we want a bold, non-business as usual leader who would take all the risk and take hard decisions that drive a change to a looming eminent danger of the Ghanaian housing sector with special focus on the Rent housing sector.

 

Ebenezer Annang

Executive Director

Our Community Focus (OCOF)

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communityfocusgh@gmail.com

0264975269

 

 

 

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People & Lifestyle

OldSwat features Unsigned and Talented artist; Quame Rhymz on “Obrefour”

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Obrefour

Ghana-born Belgian music producer known as OldSwat has started an initiative to give unheard, talented and unsigned artists the platform to share their stories with the world. “Obrefour” featuring Quame Rhymz is the first single off this project. The 14-track project titled “The Discovery” album features 14 talented up-and-coming artists from Ghana. (more…)

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People & Lifestyle

Consolidated Bank Ghana LTD Leads GHS 600 million Note Programme Listing for Kasapreko Co. PLC on Ghana Fixed Income Market

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IMG 20240219 WA0018

Consolidated Bank Ghana LTD (CBG) in a strategic partnership as a joint lead arranger has lauded Kasapreko Co. Plc, an indigenous beverage manufacturer, for its ambitious growth plans following the official listing of the Series 1 GHS 600 million Note Programme on the Ghana Fixed Income Market (GFIM).

The funds raised will bolster Kasapreko Co. Plc’s working capital, financing capital expenditures such as operational expansion, and refinancing short-term debts.

Speaking at a joint press briefing in Accra, the Managing Director of CBG, Mr. Daniel Wilson Addo, emphasized the significance of the transaction, indicating that this is the first time an indigenous Ghanaian Bank has worked with an indigenous manufacturing company to raise funding from local pension funds in the public market. This signifies fostering strong partnerships among indigenous companies to overcome financing challenges innovatively. 

He added that the funding which is at a cost significantly lower than the Ghana Reference Rate (GRR) for borrowing will cushion Kasapreko Co. Plc’s operations significantly.

He underlined the importance of addressing risks associated with Small and Medium-sized Enterprises (SMEs) while encouraging financial institutions and industries to develop financial structures that meet the evolving risks effectively.

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Mr. Addo stated, “This transaction is a testament to our overriding ambition to make an impact in the communities in which we operate. We stand with you in good times or in bad times”.

According to Mr. Addo, the support for Kasapreko Co. Plc highlights the economic impact of CBG’s lending philosophy.

The Managing Director of Kasapreko Co. Plc, Mr. Richard Adjei, welcomed the innovative financing source, describing it as a relatively cheaper capital and sustainable solution for business growth.

Mr. Adjei expressed his gratitude towards CBG for enabling them to explore alternatives beyond traditional Banks. With the infusion, Kasapreko Co. Plc aims to expand production capacity and enhance its participation in the African Continental Free Trade Area (AfCFTA), having already exported products to Kenya and South Africa.

In attendance were Management members of the Consolidated Bank Ghana LTD (CBG) including the Deputy Managing Director of Operations and Technology, Mr. Thairu Ndungu; Deputy Managing Director of Corporate Resources, Madam Nana Ama Poku and Director of Finance and Strategy, Mr. Charles Appiah and other senior executives of the Bank.

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Mr. Gregg Pitt, Deputy Managing Director; Mr. Humphrey Hessel-Appiah, Finance Director; Mr. Gerald Bonsu, Commercial Director; and Mr. Isaac Adjei, a Board Member, all of Kasapreko Co. Plc were also present.

Consolidated Bank Ghana LTD (CBG) is wholly owned by the Government of Ghana and operates as a universal Bank with 114 branches in 13 regions of Ghana. The Bank has strong government support, a large SME client network, and a pool of diverse talent.

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Telecel Ghana Network Update

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Telecel Launch

Telecel Ghana has multiple sources of internet services through SAT3, WACS, ACE, and submarine fibre links to other international providers.

On the 12th of March 2024, Telecel Ghana lost internet capacity provided by WACS subsea cable, and immediately switched to ACE to maintain service.

On 14th March 2024, Telecel Ghana lost internet connectivity from its remaining providers SAT3 and ACE due to a cut in their undersea cables. This resulted in the disruption of data services on Mobile and Fixed networks.

Telecel Ghana has now secured new internet capacity and is progressively adding more capacities through local and international partners, including other Telecel subsidiaries. This, is in addition to local caching solutions which are enabling access to some content services such as YouTube, Facebook, Netflix etc.

Telecel Ghana sincerely appreciates the patience and understanding of its customers during this period. All customers will be refunded accordingly. 

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Please note that information circulating on social media platforms about the disconnection of Telecel Ghana due to debts owed is false and should be disregarded.

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SuperSport to air 13th African Games on DStv & GOtv from March 19

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2023 African Games Logo

SuperSport International have confirmed that the ongoing 13th African Games will telecast on DStv and GOtv from 19th to 23rd March 2024.

The broadcast will cover a wide range of sports disciplines. Given that this is also an Olympics year, the athletics, track, and field which began today may be the most significant sport fans across the continent would love to follow.

Currently Nigeria and South Africa, led by Egypt (first), are ranked second and third, respectively, on the medal standings.

Ahead of the live feed on your DStv and GOtv starting tomorrow 19th March 2024, SuperSport is streaming live the games on the DStv Stream and GOtv Stream apps.  Subsequently from tomorrow the broadcast would be open on DStv 248 (Variety 4) (DStv) and GOtv channel 131 (Select 2).

The 13th African Games are already delivering unforgettable experiences, reconnect your decoder to be part of a celebration of diverse sporting talent and cultural unity live from Accra Ghana.

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Hollard Ghana Empowers Student Entrepreneurs with Second Edition of Streetwise Finance Business Challenge.

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Winner HSBC

Hollard Ghana, the country’s favourite insurer, with subsidiaries Hollard Insurance and Hollard Life, awards Jnelp Innovations, a student entrepreneur, with GHC 40,000 as funding at the just-ended Hollard Streetwise Finance Entrepreneurship Business Challenge held at the University of Cape Coast. 

In collaboration with the University of Ghana Business School and the University of Cape Coast, the grant-based program showcased ten talented student-led businesses that presented their business ideas to a distinguished panel of judges in a bid to secure funding. Zenags Organics won the second-place prize of GHC 20,000, and Career Path won the third-place award of GHC 10,000.

Speaking on the essence of the event, Alexander Osei Mensah, General Manager of Operations at Hollard Insurance, described the initiative as a testament to the insurance group’s efforts to nurture entrepreneurial spirit and innovation among the youth.

“As a company that does well by doing good, our purpose is to bridge the gap between the corporate world and academia. Being an entrepreneurially driven company, Hollard believes in enabling its community to create better futures. Since universities are essential in nation-building and the training ground for business leaders, we focus on engaging tertiary students to ensure they are enabled to succeed in the future with Hollard’s support. In doing so, we aim to inspire more students to explore opportunities that will lead to successful employment upon graduation, particularly through entrepreneurship,” Alex added.GROUP HSBC

Portia Sackey, the founder of Jnelp Innovations, expressed her satisfaction with the event’s outcome, stating, “We are thrilled to be winners of the Hollard Streetwise Finance Business Challenge.   We are grateful to Hollard Ghana for this opportunity to help small businesses thrive. With this funding, we will expand our business by investing in research and development for our skin product and purchasing a tricycle and two extra automatic filling machines to enable us to meet the demanding markets with our products”. 

The success of the second edition of the Streetwise Finance Business Challenge reinforces Hollard Ghana’s commitment to fostering economic growth and empowering the next generation of business leaders. The company remains dedicated to supporting initiatives that contribute to the overall development of Ghana’s entrepreneurial landscape. Student startup businesses participating in the competition include Overseas, Gamkrib, Delsoy Foods, Shuttle Track, Prifrimps Food, Geia Technology, and Firefly I.O.

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Keren Arthur, PhD, the Director of the D-Hub, urged the winners to be strategic in their decisions while remembering that entrepreneurship is an experimental process. 

“Adopt a step-by-step process for using funds and know that entrepreneurship requires a small-scale pilot before major investment. To the other businesses who competed, don’t give up. This event has added to your story, and I hope this will make you stronger and even more committed to taking the ideas forward. The doors of the D-Hub are always open to help you chart the next chapter of your story,” she added.

 

The country’s favourite insurance group is Hollard Ghana, with subsidiaries Hollard Insurance and Hollard Life Assurance. The group combines its deep local knowledge of the market, having previously operated in Ghana for 25 years as Metropolitan Insurance, with the world-class expertise of an international insurance brand in 18 countries worldwide. With feet firmly planted on Ghanaian soil but headquartered in South Africa, Hollard delivers innovative insurance solutions customised to the unique risks Ghanaians face. Hollard offers various life and general insurance products, including funeral, personal accident, motor, business, travel, home, and more, and can be reached via 0307000599. Beyond various nationwide office branches and Hollard 2U franchise shops, Ghanaians can find Hollard at Shell Fuel Station Welcome Shops, Melcom stores and online at www.hollard.com.gh, www.melcom.com/hollard-insurance and www.jumia.com.gh for all their insurance needs.

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Team South Africa withdraws hockey from African Games due to poor pitch conditions

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sa hockey

South Africa’s hockey teams have decided to withdraw from the 2023 African Games hockey competition due to concerns regarding the poor quality of the pitch at Theodosia Okoh stadium in Accra. (more…)

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