Phases 1 through 3 of the Kpone Affordable Housing Project have been successfully completed with the commissioning of the 1,072-unit project by Vice President Dr. Mahamudu Bawumia.
A groundbreaking ceremony for Phase 4, which is expected to produce an additional 800 homes, increasing the total to 1,872 units, was also held during the event on Monday, November 25, 2024.
Due to inadequate government funding, the project, which was first started in 2006 under former President John Agyekum Kufuor, had languished under the Mills and Mahama governments. But under the Akufo-Addo-Bawumia administration, it has been brought back to life, keeping its pledge to give Ghanaians access to decent and reasonably priced housing.
Speaking during the function, Dr. Bawumia reiterated the government’s resolve to use creative approaches to solve Ghana’s housing shortage of 1.8 million.
He presented ideas for a “Decade of Housing Programme” and underlined the vital role that Public-Private Partnerships (PPPs) play in promoting sustainable housing construction.
Additionally, Dr. Bawumia emphasized the economic significance of a healthy mortgage and housing market, pointing out that developed nations use trillions of dollars in these areas to stabilize and expand their economies.
Along with the Kpone project, Dr. Bawumia visited the adjoining National Housing Fund (NHF) estates in Phases 2 and 3, which are now under development and will contribute 534 new homes to the nation’s housing supply.
The vice president further underlined that if the NPP administration wins a mandate in the next elections, they will be dedicated to fostering a thriving housing industry, generating employment, and accelerating economic progress.
