Vice President Dr. Mahamudu Bawumia, also the New Patriotic Party (NPP) flagbearer, has inaugurated Phases 1, 2, and 3 of the Kpone Affordable Housing Project in the Greater Accra Region. The development comprises 1,070 completed housing units aimed at addressing the housing needs of low to middle-income earners in Ghana.
At the same ceremony, Dr. Bawumia performed a sod-cutting ceremony to mark the commencement of Phase 4, which will add 834 housing units, bringing the total to 1,904. The project is being executed under the supervision of the TDC Development Company Limited.
Commending the efforts of the TDC board and staff, Dr. Bawumia highlighted the government’s sustained commitment to tackling Ghana’s housing challenges. “In the past seven years, we have implemented transformative initiatives to address longstanding housing issues and create sustainable solutions,” he said.
Transformative Housing Initiatives
Dr. Bawumia detailed several key housing initiatives, including the establishment of the Homeownership Fund in 2018, which provides cedi-denominated mortgages at reduced interest rates through partnerships with local banks. This fund has facilitated the completion of 405 housing units, with an additional 139 units slated for completion by February 2025.
The Vice President also emphasized the expansion of public sector housing through partnerships with private developers. A current scheme aims to deliver 609 housing units for public sector workers, leveraging government land and focusing on urban density to reduce sprawl while enhancing environmental sustainability.
Security Services and Rent Assistance
Recognizing the critical housing needs of security personnel, the government has provided 1,000 units for the Ghana Police Service in Tema, Kwabenya, and Tesano. Furthermore, the Rent Assistance Scheme, launched in 2023, has supported approximately 2,400 individuals who are unable to afford rent advances. The initiative boasts a 100% recovery rate.
Dr. Bawumia reaffirmed his commitment to ensuring that every Ghanaian has access to affordable and dignified housing. “Together, we will build not just homes, but a future of equity, opportunity, and prosperity,” he concluded.
