AfricaHome Building News 20 08 2025

Ashaiman MCE, Freeman Tsekpo, has denied allegations that the Assembly is unlawfully evicting members of the Peaceful Settlement Association, clarifying that the Assembly is only carrying out a decongestion exercise.
Speaking on Channel One Newsroom on Monday, August 18, he explained that the operation has been misconstrued as a demolition of land under litigation. He stressed that the exercise only targets traders who have encroached on roads, pavements, and medians, posing safety risks.

Mr. Tsekpo said members of the association had placed containers and displayed goods on road reservations, forcing pedestrians onto streets. He maintained that the Assembly’s actions were to ensure free movement and public safety, not to demolish properties within their legally acquired spaces.

TDC Ghana Ltd has rejected claims by a group of developers asserting ownership of lands at Borteyman, describing them as illegal encroachers. In a statement responding to a press conference by the group on August 18, TDC clarified that the disputed lands fall within the Tema Acquisition Area, where only TDC is legally mandated to make allocations. It said any ownership claims outside this framework are invalid.

The company explained that on August 15 it removed unauthorised containers placed on lands already allocated to registered applicants, stressing that a business permit from the Tema West Municipal Assembly does not legitimise unlawful land occupation.
Quoting Section 236 of the Land Act, 2020 (Act 1036), TDC reminded the public that unlawful occupation does not confer ownership rights. It urged interested parties to follow the proper application process through TDC and assured that it will continue to protect its lands in the public interest.

Deputy Finance Minister Thomas Nyarko-Ampem has tasked the new board of the National Homeownership Fund Ltd. (NHF) with delivering concrete solutions to Ghana’s severe housing affordability gap.Speaking at the board’s inauguration, Nyarko-Ampem stressed that decent, affordable housing remains critically out of reach for most citizens, especially low and middle-income earners.

He urged the board to pioneer innovative financing models and targeted programmes capable of dismantling the barriers blocking homeownership for the majority. NHF CEO Prosper Hoetu laid bare the scale of the challenge, revealing just 5% of Ghanaians can purchase homes outright, while 60% require significant financial aid to secure basic shelter. Hoetu committed the Fund to bridging this divide through expanded financing options and strategic partnerships.

In a related development during the inauguration of the Ghana Amalgamated Trust PLC (GAT) board, Nyarko-Ampem reaffirmed the government’s focus on investing to rescue banks rather than spending over GH₵30 billion on liquidation. He expressed confidence in the GAT board’s ability to drive sustainable growth within the sector.

GAT Board Chair Dr. Kwabena Donkor pledged to cultivate a robust and profitable banking system capable of generating dividends and underpinning national economic stability. The twin appointments signal government efforts to address core financial challenges, with the housing initiative posing a particularly urgent test of its ability to deliver genuine solutions for ordinary Ghanaians.

Saudi Arabia’s Public Investment Fund (PIF) has acquired a two-thirds stake in a prime Manhattan development site, located just one block from Central Park, as part of a proposed $1 billion skyscraper project in partnership with Related Cos.
This development marks a significant resurgence of foreign capital into New York City’s commercial property market. Office leasing volumes in Manhattan have rebounded to pre-pandemic levels, while commercial property purchases by foreign investors in the past six months have surged to more than $2.1 billion—five times the total seen two years earlier. (The Wall Street Journal)

PIF, with assets under management estimated at around $1 trillion, has been expanding its global real estate footprint—extending beyond this project to cover luxury European brands including Selfridges, Aman, and Rocco Forte. This newest partnership with Related Cos. builds on a collaboration that began in 2020. (The Wall Street Journal)

Source : Joycelyn Marigold, African Home Building News