The management of Social Security and National Insurance Trust (SSNIT) on Monday, handed over keys to the GH�1,910,000 Housing project at Dunkonah near Weija in the Ga South Municipality to government.
The two-storey accommodation of 42 three-bedroom apartments handed over to the Ministry of Water Resources Works and Housing (MWRWH), would
accommodate 42 families being relocated from Switchback Road at Cantonments in Accra.
Dr Frank Odoom, Director-General of SSNIT, explained that management purchased the land at Switchback Road to be developed into residential as well as for commercial activities and therefore had to relocate the occupants.
He noted that on realising potentials in the area and inappropriateness of combining the old flats with the new concept of housing, SSNIT decided to relocate them and to ensure they were provided with decent accommodation.
Dr Odoom said management had so far built over 10,000 residential and commercial accommodations throughout the country, and gave the assurance that work on the project at Switchback Road would be completed on schedule for the benefit of Ghanaians.
Mr Alban Sumana K. Bagbin, Minister of MWRWH, said government was reviewing the National Housing Policy to make it more relevant to the
housing needs of low income earners and to serve as a guide to government's engagement with both local and foreign investors in the housing sector.
"The draft housing policy proposes that a household should not spend more that 30 per cent of its annual income on rent or purchase price of
housing," he added.
Mr Bagbin pointed out that housing had become a fundamental human issue as it encompassed all elements that together made habitation safer and more comfortable.
He expressed concern about estate developers who charge rent in foreign currencies instead of the local Ghana Cedis, thereby making housing
unaffordable for low income earners.
Mr Bagbin expressed the hope that the beneficiaries would be motivated to work harder towards the country's development.
He commended management of SSNIT for releasing about GH�30 million in 2008 as part of funding for the 5,138 housing units under the Government's Affordable Housing Project which commenced in 2006.
Mr Bagbin announced that about GH�70 million had so far been spent on the project by the end of 2008, and an additional GH�203 million would be required to complete the project.
He urged the beneficiaries to ensure proper maintenance of the facility.