The State Housing Company Limited (SHC) has initiated a major nationwide debt recovery campaign, incentivizing individuals and institutions with outstanding debts to settle their obligations by offering a substantial 15% discount. This proactive strategy aims to retrieve millions of Ghana Cedis owed to the company, which are crucial for financing new affordable housing projects across the country.
The Debt Clearance Incentive
The debt recovery drive targets customers, tenants, and entities that have accumulated arrears over the years, stemming from the sale of properties, estate rentals, ground rent, and other services provided by the SHC. The 15% discount is presented as a goodwill gesture and a temporary financial relief measure to encourage prompt payment.
Focus on Recovery: The SHC, which was restructured to operate as a commercial entity, relies heavily on its receivables to fund its statutory mandate of increasing the availability of dwelling houses in Ghana. The large volume of uncollected debt has historically hampered its ability to undertake new projects and complete existing ones, such as the major initiatives in Pokuase-Afiaman and Dedesua.
Encouraging Compliance: By offering a significant discount, the company seeks to turn long-standing liabilities into immediate liquidity. This approach acknowledges the potential financial challenges debtors may face while still demanding accountability for public funds.
A Critical Need for Liquidity
The timing of this campaign is critical. In recent years, the SHC has been under increased pressure from the government and its own newly inaugurated board to prioritize the mobilization of innovative financing mechanisms for national housing initiatives. These projects are central to the government’s efforts to reduce Ghana’s housing deficit and create employment opportunities.
The funds recovered through this discounted payment window will provide a much-needed injection of capital to:
Accelerate Construction: Fast-track the completion of affordable housing units currently under development.
Service Estate Management: Enhance maintenance and management services for existing properties.
Fund New Starts: Allocate resources toward new district housing programs designed to deliver quality homes across the country.
The Managing Director of SHC has emphasized that settling these outstanding debts is not only a financial obligation but a contribution towards national development and the critical goal of making homeownership accessible to more Ghanaians. The campaign underscores the company's dual mandate: operating profitably while maintaining its social commitment to public housing provision.
Source: This article from citinews is based on the announcement by the State Housing Company Limited (SHC) regarding its nationwide debt recovery drive offering a 15% discount, as reported by CitiNewsroom.