Page last updated at Saturday, May 5, 2012 5:05 AM //
The project which takes off in October would begin with the construction of 500 housing units for police personnel.
The arrival of the Guma Group among other bidders provides a bridge-gap for the botched STX housing project.
Guma would finance the project and later transfer it to the Ghana Government.
The documentation for the project was concluded and appended by Mr Enoch Teye Mensah, Minister for Water Resources, Works and Housing, and Alhaji Ziblim Yakubu, Acting Chief Director of the Ministry for the Ghanaian side, whiles Marie Pillay, Executive Director of the Guma Group, Mr Mandla Gama, Director of Guma Water and Mr Lyndon Khan of Guma Properties signed for the company.
The signing ceremony performed in the presence of Vice President John Dramani Mahama, in Accra.
The signing of this Agreement stemmed out discussions between Ghana’s President John Atta Mills visit last year to South Africa during which the two nations affirmed the commitment to enhance co-operation with each other with investment in housing and water resources among others.
President Mills visit was followed by the Vice Presidents of both countries for further work on the areas of co-operation.
Vice President Mahama reiterated that Government’s desire to provide affordable housing, observing that about 54 percent of Ghanaians lived in rented premises, hence the invitation for investment in housing to ease pressure.
He said about 35 per cent of Ghanaians do not have access to good drinking water and expressed the conviction that the water project in the memoranda would commence soon to reduce the emergence of water borne diseases in the society.