Mortgage finance will be
affordable and reliable in Ghana –
Owusu-Agyemang
Accra, Nov. 29, GNA - Mr Hackman Owusu-Agyeman,
Minister of Water Resources, Works and Housing,
on Wednesday reiterated Government's commitment
to partner the private sector to make mortgage
loans very affordable and reliable to all in the
country.
He said: "Mortgage hardly exists in Ghana and in
cases where they are available the price scares
the ordinary Ghanaian away."
Mr Owusu-Agyemang said this when Mr John Simon,
Vice President of the Overseas Private
Investment Corporation (OPIC), who is currently
in the country for the West African High Level
Peer Exchange Conference on Government
Ennoblement of Private Sector Lending for
Affordable Housing, called on him in Accra.
He, however, expressed the optimism that banks
saw the need to mortgage financing and to
incorporating it into their activities to assist
the people.
Mr Owusu-Agyemang said the cost of housing still
remained high in the country and, therefore, the
majority of the disadvantaged could not afford
to build their own houses.
He said the Government was putting in modalities
to improve the overall housing infrastructure.
Mr Simon said Ghana's economy at present
required long-term investments for her economic
and social advancement.
He pledged United States Government's support
for Ghana and said it would assist the
Government in the provision of affordable
housing through long-term mortgage financing.
GNA
