Private sector key to closing Ghana’s housing gap — Minister
THE Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, has declared that Africa’s next phase of housing and urban development must prioritise affordability, liveability, and resilience, stressing that innovation must not come at the expense of identity.
Speaking at the inaugural Africa Real Estate Festival 2026 in Accra on Saturday, he challenged stakeholders to rethink real estate beyond land and buildings.
“Real estate is about the spaces where people live, work, and connect. It influences safety, dignity, productivity, and social cohesion, while also reflecting our cultural identity. In essence, real estate is about place, not just property,” he indicated.
The two-day event brought together state regulators, diaspora investors, and industry leaders under the theme: ‘Innovation Meets Identity: Designing Africa’s Next Living Experience.’
It was organised by AREF in collaboration with Nilex Properties, Goldkey Properties, the Ministry of Works and Housing, and the Real Estate Agency Council (REAC).
Mr Adjei noted that in Ghana, the private sector delivers nearly 90 per cent of housing, according to the Ghana Statistical Service.
“Government alone cannot close the housing gap. We, therefore, call on the private sector to scale up investment, adopt innovative delivery models, and align with national housing priorities,” he added.
He further announced the promotion of local building materials and green construction methods to cut costs, support sustainability, and reduce carbon emissions.
Additionally, innovative housing finance solutions are being developed with financial institutions to expand access to mortgages and long-term housing finance.
He stressed that the broader legal and institutional framework is also being reviewed to reduce bureaucracy, improve transparency, and support industry growth.
He also outlined several government policies and reforms aimed at transforming the housing sector. These include repositioning the National Affordable Housing Programme to support large-scale, mixed-income housing through public-private partnerships, and decentralising delivery through the District Housing Programme so that every district contributes to reducing the national housing deficit.
According to him, the Rent Act is under review to improve fairness, strengthen tenant protection, and create a more stable rental market.
In partnership with the Lands Commission, he said government is advancing land administration reforms to improve land acquisition, strengthen title security, and reduce delays.
The private sector response was led by headline sponsor Nilex Properties. Its Legal and Corporate Affairs Director, Alex Kofi Osei-Owusu, highlighted the company’s 19-storey oceanfront development as evidence of what African capital and bold architectural vision can achieve.
He noted that the project combines technical expertise from Mumbai with a strong team of local Ghanaian architects. “We want to work with local architects,” he emphasised.
Goldkey Properties was also recognised as a “captain of industry” for promoting high-quality, Grade-A developments.
Earlier, welcoming participants, AREF Founder and Chief Executive Officer, Desmond Kwesi Oteng, argued that for too long, key conversations about African land and luxury real estate have taken place in boardrooms in London, Dubai, and the United States.
He said hosting AREF in Africa signals an end to “narrative outsourcing,” challenging the more than 1,500 delegates with the question: “Who builds Africa?”
He also applauded the ministry’s leadership, noting that the most powerful signal a government can send is not just incentives, but “certainty.”
The Real Estate Agency Council reinforced the call for structural integrity, warning that a transparent market depends on professional standards and effective policy enforcement.
It reminded practitioners of the ban on cash transactions under the Real Estate Agency Act, 2020 (Act 1027), aimed at eliminating fraud and money laundering.
The festival further highlighted the role of the Rent Control Department, noting that fairness between landlords and tenants is essential to building sustainable communities.
BY TIMES REPORTER
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