Business News of 2013-12-22

200 housing project begins in Tamale

Works on the first of 200 two-bedroom housing units worth GH¢3 million, has started at Lahagu a suburb of Tamale Metropolis.

The project, which is a social housing scheme under the Community-Led Infrastructure Financing Facility, seeks to assist active productive and low income earners in the public and private sector to acquire houses under flexible financing terms.

It is being funded by Homeless International, a United Kingdom based organization with support from Government, the chief of Nanton, Water and Sanitation for Africa (WSA) and Credit Union Association of Tamale.

Speaking at a sod-cutting ceremony at Lahagu, a Resident Representative of WSA, Destina Samani said after the completion of the first 200 houses in the next six months, an additional 1,000 units would be constructed annually for a period of four years.

She explained that beneficiaries would be required to make an upfront interest-free payment of 20 per cent of the cost as commitment while the rest of the cost would be spread over a period of five years at an interest rate of 18 per cent.

“By design, government is subsidizing the project with the provision of land, roads and utilities to the site to cushion beneficiaries,” she said.

A Metropolitan Chief Executive of Tamale, Hanan Gundadow Abudul Rahaman who cut the sod to start the project, expressed government’s readiness to partner non- governmental agencies and the private sector in the development of the country.

He said the project was in response to government’s call on the Metropolitan, Municipal and District Assemblies to maximize available opportunities to address the acute housing deficit in the country.

He appealed to residents in the area to own the project and ensure that it succeeds due to its potential of direct and indirect opportunities for women and children.

About 400 women would be engaged to provide various services such the supply of water to facilitate the execution of the project.