Audio By Carbonatix
After a botched deal with STX to build 30,000 housing units for the security agencies, government’s hope of getting a South African company, GUMA Group, to construct 500 housing units, seems to be hitting a snag.
The construction firm had promised to complete the housing project by the end of the year, but months after the agreement was signed in May, the deal is yet to be submitted to cabinet for approval.
The issue of money has been one of the biggest challenges bedeviling the smooth takeoff of the project, the Minister of Works and Housing, E.T Mensah has confirmed to Joy News.
He told Joy News’ Araba Koomson that the project is being stalled because the company is finding it difficult to secure an affordable loan, and the government is also concerned about the cost of the completed project.
“The prices, we have gone back and forth on the financial terms, the loan is quite expensive, the payment period is too short, and the interest and even cost of property when they have eventually rolled out, so that is what is stalling it,” Mr E.T Mensah pointed out.
He said his ministry is still in discussions with the GUMA Group, insisting they want to ensure that they are convinced about the whole projects before asking cabinet to give its blessings.
“We haven’t sent it to cabinet yet because we are still discussing the details,” he explained, “until we ourselves we are satisfied that we are operating within a set criteria.”
Meanwhile, E.T Mensah said all hope is not lost, adding that government is also finalizing some deals with other companies.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
David Selassie Anthony declares bid for NDC Deputy National Organiser
51 minutes -
Amin Adam proposes 13 measures to strengthen Ghana’s debt transparency and market confidence
1 hour -
Mahama announces $2bn annual investment to accelerate industrialisation
1 hour -
Amin Adam urges monthly disclosure of Sinking Fund as Ghana prepares for DDEP repayments
1 hour -
Stronger banks will fuel business growth and jobs – ADB MD
1 hour -
Galamsey: ‘Rivers that fed our grandparents now run the colour of chocolate milk’ – Sam Jonah
2 hours -
We have been scammed by NDC, government is only doing PR – Abanga Fuseini
2 hours -
Republic Bank–JoyNews Habitat Fair opens in Ho today
2 hours -
BoG pledges stability to attract investment, urges stronger Africa–Asia partnerships
2 hours -
Amin Adam warns treasury bill dependence could expose Ghana to refinancing risks
2 hours -
Ghana better placed to withstand commodity price shocks – IMF
2 hours -
GAPTE intensifies efforts to increase bus availability for Aayalolo contra-flow
2 hours -
Amin Adam warns cedi depreciation could reverse Ghana’s debt relief gains
2 hours -
Fiscal discipline crucial for pension fund investments – Finance Minister
2 hours -
BoG Governor rallies IMF to back Africa’s digital sovereignty
2 hours