Min initiates Housing scheme for teachers

Front Page
June 13, 2009

THE Ministry of Education has initiated a housing scheme under which teachers and other educational workers in the country can own houses.
Already, the ministry has struck a deal with HFC Bank to pre-finance the scheme.
The Minister of Education, Mr Alex Tettey-Enyo, who confirmed this to the Daily Graphic, said the scheme was part of efforts to motivate teachers and educational workers.
Tracts of land at Afienya in the Greater Accra Region have been earmarked for the commencement of the scheme.
The scheme is expected to be extended to other parts of the country, depending on the interests of the teachers and the educational workers.
The Head of the Public Relations Unit of the Ministry of Education, Mr Paul Krampah, said under the arrangement for the initiative, the HFC Bank would pay for the houses for interested teachers and educational workers and determine the repayment duration within a period of about 20 years.
He said the Minister of Education had already endorsed the arrangement with the HFC Bank for the funding of the houses as welfare package to enhance the government's initiative to support workers to own houses.
Categories under the scheme are the HFC affordable type of house for the average class, three-bedroom houses for the middle class and the four-bedroom type for the executive class.
The initiative also caters for those interested in buying land for their own construction.
Mr Krampah said the ministry would also negotiate with other banks to secure soft loans for teachers to access to build their own houses.
“In addition, we are negotiating with our development partners to have a revolving fund to enable teachers to access to put up their own houses,” he said, adding that the ministry was committed to improving the welfare of teachers.
He said interested persons should contact the Welfare Unit at the GES Headquarters to register and submit their pay slips for onward submission to the HFC Bank for documentation of the repayment process.