The management of Social Security and National Insurance Trust (SSNIT) has taken over five out of six of the affordable housing projects for completion.
SSNIT is expected to complete the projects located in Tamale, Wa, Koforidua, Asokore Mampong in Ashanti Region and Borteyman in Greater Accra in eight to 18 months.
The affordable housing projects commenced in 2006.
Alhaji Collins Dauda, Minister of Water Resources, Works and Housing, who handed over the projects’ drawings to SSNIT Director-General on Tuesday, said the Trust had the funding capacity to deliver and guarantee security of workers.
The sixth affordable housing project at Kpone is being handled by the Tema Development Corporation.
Alhaji Dauda explained that 72 units had already been allocated to State Housing Corporation and 40 to the military, adding that, those ones would not be handed over to SSNIT.
He assured contractors, who performed well in the past, that they would be maintained to continue their work but cautioned that there would be “zero tolerance for delays and shoddy work.”
Alhaji Dauda said government was undertaking several interventions to reduce the 1.7 million housing deficit.
He said government had secured a loan from Brazil to construct 5,000 housing units at Prampram and also a loan of US$200 million from Barclays Bank UK to construct additional 420 units of houses.
He added that government was at the initial stages of negotiations with investors from Morocco and India to construct thousands of housing units in efforts to reduce the national housing deficit.
Mr Ernest Thompson, Director-General of SSNIT, said his outfit had a track record in housing projects and sure to deliver the projects to meet the needs and security of workers.
He explained that SSNIT started affordable housing projects in the 1970s and opened up townships like Sakumono, Dansoman, Ashongman and in the regional capitals.
He said SSNIT had over the past 30 years delivered some 7,168 housing units across the country.
He expressed optimism that the revival of the projects would create employment and increase the social security contribution base from 1.2 million contributors to secure the future of both the contributors and their dependents.