NADMO Communications Director George Ayisi Explains Why Affordable Housing Projects Are Priced In Dollars

NADMO Communications Director George Ayisi Explains Why Affordable Housing Projects Are Priced In Dollars

  • The affordable housing units being put up by private developers on behalf of the government will be sold in dollars
  • Many people have spoken out against the move, arguing that it is inappropriate since we spend cedis in Ghana
  • However, there have been explanations suggesting that the instability of the Ghana cedi is the reason the units are priced in dollars

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The Communications Director of the National Disaster Management Organisation (NADMO), George Ayisi, said the government priced the affordable housing units at Pokuase in dollars because of the instability of the cedi.

He said the fluctuating exchange rates make it difficult to price the houses in cedis.

"To give assurance to the investors who are participating in the sector of these housing projects that their returns is guaranteed, it is proper that you get a more stable currency, which is the dollar to be the basis for the denomination of pricing of the housing unit."

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George Ayisi defends the dollarisation of the affordable housing units
George Ayisi said investors must also make a profit, hence the pricing of affordable housing units in dollars Photo credit: @TechNovaGh and @KafuiDey Source: Twitter
Source: Twitter

After the sod-cutting of the affordable housing project at Pokuase in the Greater Accra region, the Housing Ministry indicated that a studio apartment would cost up to $13,800, a one-bedroom up to $20,700, a two-bedroom up to $34,500, and a three-bedroom up to $42,550.

George Ayisi said none of the investors could price their household units above the threshold given by the government.

"What the government has done is to agree with the companies on the prices. None of the contractors will price any of the units beyond these agreed ones."

This dollar pricing is coming at a time when the Bank of Ghana has stated several times that it is illegal to price goods in a foreign currency in the country. Many have wondered what the BoG would do about this development, where the government seems to be flouting their directive.

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Watch the video below:

Comments on the video

Some Ghanaians reacted to the video shared on social media. Read some comments below:

@ProffBlaq said:

This guy thinks it’s those needless English that we need. Hhmmm

@agotwin_abugri wrote:

He talked plenty...he still didn't give any reason

@Royalgiant_ken commented:

I want to ask ooo, how evil can a politician to ignore the fact that, most of Ghanaian citizens are suffering... Some needs just rents and some daily food. But when they go to various stations, they talk as if we owe them applaud.

Government launched new affordable housing project

Earlier, YEN.com.gh reported that the Ghanaian government had cut cod for a new affordable housing project, with the cheapest unit costing up to $13,800.

Under this project, 8,000 units will be located at Pokuase/Amasaman in the Greater Accra Region and 6,000 housing units at Dedesua in the Ashanti Region.

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Private developers are expected to provide a total of 14,000 affordable housing units under this project.

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Source: YEN.com.gh

Authors:
Magdalene Larnyoh avatar

Magdalene Larnyoh (Human-Interest editor) Magdalene Larnyoh writes for the Human Interest Desk at YEN.com.gh. She has over ten years of experience in media and communications. She previously worked for Citi FM, Pulse Ghana, and Business Insider Africa. She obtained a BA in Social Sciences from the University of Cape Coast (UCC) in 2012. Reach out to her on magdalene.larnyoh@yen.com.gh

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