Headlines for African HomeBuilding News
Real Estate Developer Calls for Mortgage Law Review to Improve Accessibility
Godfred Dame Criticizes Attorney General’s Handling of Saglemi Housing Case
Finsco Africa Expands to Tanzania, Appoints Christina Shusho as Managing Director
Eric Ebo Acquah, CEO of Blue Rose Ltd and First Vice-President of GREDA, is calling for a review of Ghana’s mortgage law to broaden access to home financing.
He criticized the current policy that limits a 20-year mortgage to those under 40—a rule misaligned with
Ghana’s retirement age of 60. Acquah pointed out that in developed countries, mortgages are offered for 30 to 40 years, allowing homeowners more time to pay off their loans while the property’s value appreciates.
He also proposed that banks use the second and third tiers of workers’ pension funds as a form of collateral or guarantee for mortgages.
Acquah emphasized that these pension funds are meant to support housing for workers, yet they remain underutilized. He argued that if workers could channel rent payments towards mortgage servicing, the risk of default would decrease, especially as the house appreciates over time. Additionally, he noted that quality housing contributes to better health and less strain on the national health system. Finally, Acquah urged SSNIT to invest part of workers’ contributions in affordable housing projects, which could compel estate developers to lower housing costs.
Former Attorney General Godfred Dame has sharply criticized current Attorney General Dr. Dominic Ayine for discontinuing the case against the Saglemi Housing Project. Dame argued that dropping the charges sets a dangerous precedent, especially since the misapplication of public property—amounting to $94 million—was just one of 70 charges in the case.
Instead of abandoning the case, he suggested that the specific count should have been amended.
Dame also expressed concern over the other 69 charges that were not addressed. He highlighted that one of the reasons cited by Dr. Ayine for the case’s withdrawal was the failure to charge ministers who took office after Collins Dauda, a factor he believes undermines the principles
Kenyan real estate firm Finsco Africa has expanded its operations into Tanzania as part of its regional growth strategy.
The expansion was unveiled at a launch event in Dar es Salaam, attended by former Tanzanian President Jakaya Kikwete as Guest of Honor.
The company also appointed renowned gospel artist and entrepreneur Christina Shusho as Managing Director for Finsco Africa Tanzania. CEO John Mwaura emphasized the firm’s commitment to transforming Tanzania’s real estate sector through structured investment models and sustainable housing solutions, aiming to make real estate investment more accessible and inclusive.
of criminal law and accountability.
Africa is facing an affordable housing crisis as rapid urbanization pushes over half the population into cities by 2030, resulting in overcrowded informal settlements and deepening inequality.
Factors such as inadequate financing, outdated regulations, and scarce affordable building materials contribute to this challenge.Veritasi Homes, led by CEO Nola Adetola, is at the forefront of addressing these issues by introducing innovative financing models and sustainable building designs to make homeownership more accessible and transform Africa’s housing landscape.
Source : Joycelyn Marigold – African Home Building News
