The Vice-Chancellor of the Kwame Nkrumah University of Science and Technology (KNUST), Professor Rita Akosua Dickson has emphasized the role of affordable housing in economic growth.

She believes affordable housing has the potential to affect several sectors of the economy positively, especially education.

“Adequate and affordable housing can create economic opportunities and lead to the development of many sectors of the economy including education,” she said.

She was speaking at a colloquium on the draft Rent Bill and Ghana Housing Authority Bill in Kumasi.

It was organised by the Ministry of Works and Housing under the auspices of the KNUST faculty of law.

The colloquium was to engage policy makers, lawyers and judges on the implementation of the national housing policy and consider the Rent and Housing Authority Bill 2022.

The Minister of Works and Housing, Francis Asenso-Boakye said rapid population growth has informed the Ministry’s decision to amend the housing and rent policies.

“The rent Act as amended, was passed by Parliament 59 years ago and therefore its relevance has been outlived by the current population growth and several other attendant difficulties that have engulfed the housing sector.

“It has therefore become necessary to reform the existing legislation, remove inherent constraints on housing supply,” he said.

He also announced that the government is initiating a scheme that will cater for losses in the rental market.

“The government is in the process of establishing a national rental assistance scheme.

“The establishment of this scheme is meant to address the short- and medium-term market failure in the rental segment of the housing market,” he noted.

The Dean of the faculty of law, Dr. Ernest Owusu called on government and individual institutions to help in completing the faculty building.

“We urgently need the second phase of the faculty of law constructed to create more room for our teaming number of students, lecturers and to hold our activities.

“And I’m happy that the honourable Minister of Works and Housing who is also the MP for Bantama is here and I hope that the prayer I’m making is being made at the right time.

“We are looking for philanthropists and well-meaning benefactors to come to our aid,” he said.