The need of affordable housing for economic progress has been stressed by Professor Rita Akosua Dickson, Vice-Chancellor of the Kwame Nkrumah University of Science and Technology (KNUST).
She thinks that having inexpensive housing might have a favourable impact on a number of economic areas, including education. The growth of several economic sectors, including education, may be facilitated by adequate and cheap housing, according to the speaker.
Speaking in Kumasi at a colloquium on the proposed rent legislation and the Ghana Housing Authority legislation It was sponsored by the KNUST law faculty and organised by the Ministry of Works and Housing. The purpose of the colloquium was to include decision-makers in housing policy implementation as well as to discuss the Rent and Housing Authority Bill 2022.
Francis Asenso-Boakye, Minister of Works and Housing, stated that the Ministry's decision to change the housing and rent regulations was influenced by the rapid population expansion.
The present population expansion and a number of other accompanying issues that have overtaken the housing industry have rendered the rent Act, as revised, no longer relevant. Parliament approved the Act 59 years ago.
Because of this, he stated, "it has become imperative to amend the present legislation and eliminate fundamental restrictions on housing supply." Additionally, he said that the government is launching a programme to compensate for losses in the rental market.
A countrywide rental aid programme is being established by the government. He stated that the creation of this plan was intended to solve the short- and medium-term market failure in the housing market's rental segment.
Dr. Ernest Owusu, dean of the law faculty, appealed to the federal government and other institutions for assistance in finishing the faculty building. "The second phase of the law faculty has to be built as soon as possible so that there will be enough space for our growing number of students, professors, and activities.
And I'm glad to see the honourable Minister of Works and Housing, who is also the Bantama MP, here. I also hope my prayer is being said at the appropriate moment. He remarked, "We are seeking for benefactors and well-meaning donors to come to our help.
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