Provide soft loans to estate developers to grow Ghana’s housing sector – Oquaye urges banks

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A former Speaker of Parliament, Rev. Professor Aaron Mike Oquaye has urged banks to provide soft loans to real estate developers in the country in order to enable them develop the housing sector of the country.

He noted that the housing sector is critical to Ghana’s development hence, the need for investments.

“Banks and other financial institutions should turn their eyes towards these things by providing soft loan facilities. The Bank of Ghana should direct every bank to commit a certain percentage of profit for soft loans for housing. Also, we should also look at the production of building materials locally to help reduce prices,” the former Member of Parliament for Dome-Kwabenya said these when the Minister for Works and Housing Francis Asenso-Boakye opened the Knightsbridge Luxurious Affordable Housing in Kwabenya in the Ga East Municipality by Rehoboth Properties Limited.

Mr Asenso-Boakye for his part, said the government is working to address the housing needs of Ghanaians.

The government has prioritised the delivery of affordable housing units to address the gap and increase access to various affordable housing schemes, thereby reducing the housing deficit, he said.

“It is, therefore, without doubt that the housing industry, as in many economies, holds the key to development of our country, I am encouraged by the role Rehoboth Properties is playing to meet the enormous challenges of the industry,” he said.

“Housing has become one of the critical development issues facing us as a country. Government has prioritised the delivery of affordable housing units to address the gap and increase access to various affordable housing schemes, thereby reducing the housing deficit,” the Bantama lawmaker said.

He further noted that the housing sector holds the key to development of Ghana.

“It is, therefore, without doubt that the housing industry, as in many economies, holds the key to development of our country, I am encouraged by the role Rehoboth Properties is playing to meet the enormous challenges of the industry,” he said.

By Laud Nartey|3news.com|Ghana

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