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Ghana Construction Market Growth Driven by Infrastructure Sector in 2023
Environmental Protection Agency urges public to avoid tiling compounds to prevent floods
Standard Bank Partners to Mobilize $700 Million for Green Student Housing in Kenya
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The Ghanaian construction industry experienced a remarkable surge in growth in 2023, with the infrastructure construction sector emerging as the largest market share holder.
The commercial construction sector benefited from increased tourism and investments in leisure and hospitality, leading to a significant boost in activity.
Industrial construction was supported by government investments in manufacturing and automotive sectors, while infrastructure construction was driven by upgrades to roads and railways.
Additionally, energy and utilities construction is expected to grow with renewable energy and oil and gas projects, institutional construction is fueled by investments in educational, healthcare, and research buildings, and residential construction is supported by public and private housing investments.
Away from that
The Interior Design and Decoration Ghana (IDDG), the leading professional body for interior design and decoration in Ghana, recently hosted a dynamic discussion on design during the Accra Design Center Week at A&C Corner.
The event brought together stakeholders from various sectors and the general public to explore how design can drive growth and development in the region.
A&C Corner, now officially renamed the Accra Design Center, will serve as the venue for all interior design-related events organized by IDDG, promoting networking and knowledge-sharing within the industry.
This initiative reflects IDDG’s commitment to enhancing the profile of interior design in Ghana and supporting industry growth
In more news
The Environmental Protection Agency (EPA) in Ghana has advised homeowners against tiling or cementing compounds to allow rainwater to flow naturally.
The agency warned that such practices contribute to flash floods and reduce underground water reserves. Participants at a workshop on climate change in Accra emphasized the need for permeable surfaces, like green grass and paving, around houses to help rainwater infiltrate the ground and prevent flooding.
Despite regulations from the Land Use and Spatial Planning Authority, many homeowners continue to ignore these guidelines.
Standard Bank, alongside MiDA Advisors and Acorn Holdings, has partnered to secure financing for green and affordable student housing in Kenya.
With backing from the US Development Finance Corporation and support from Stanbic Bank Kenya and MiDA, they aim to mobilize up to $700 million over 18 years.
This investment will fund 35 certified green housing projects, creating 48,000 new student beds and generating thousands of jobs. This initiative aligns with Standard Bank’s commitment to sustainable development in Africa, as it strives to raise substantial funds for sustainable finance projects by 2026.
This endeavor builds upon their previous success in introducing East Africa’s first green bond for environmentally friendly student housing in Nairobi.
Source “Joycellyn Marigold & Eric Ashie -Property Express Magazine
