PPP is Ghana’s only way out of housing deficit-ASN Holdings Group CEO

Mr. Prince Sarpong, Group Chief Executive Officer of ASN Holdings says the only way out of Ghana’s burgeoning housing problem is through Public-Private Partnerships which government lacks resulting in his inability to provide housing facility to meet the desires of every Ghanaians.

Management of the ASN Financial Services  in a pose after the launch

“The government’s inability to provide houses commensurate to the population growth requires a public-private partnership to help address the housing needs of Ghanaians” Prince Sarpong has said.

The Group CEO of ASN Holdings, Prince Sarpong made the suggestion at a press conference to officially launch the ASN Home Investment Fund (HIF) in Accra on Friday August, 7.

Ghana has a social housing problem, with a housing deficit of about 1.7 million units. This figure is projected to exist for ten years, spanning 2010 to 2020. This deficit figure is projected to increase after the period stated above since our population is growing at a rate of 2.1 per annum according to Ghana Statistical Service.

Explaining  measures his outfit is exploring to tackle housing issues confronting Ghanaians on daily basis, Prince Sarpong revealed ASN Construction has set out to build one million houses within a 10 year period which saw 600 units houses already built in a ten year period.

This, he said is a step his outfit is exploring to fix the looming housing crisis that bedeviled Ghanaian economy.

Mr. Prince Sarpong assured journalists that ASN Holdings is poised at corroborating government’s effort in finding solution to the housing problems in Ghana when he introduced the Home Investment fund (HIF).

He therefore called on all Ghanaians who desire to own a home but lack the financial means to make an outright purchase or the required lump sum for an initial down payment to quickly invest in the Home Investment Fund as the only solution to homeownership problems.

He declared, “On the backdrop of the above, I stand here to confidently and boldly inform you and usher you into an easy and affordable homeownership product called the Home Investment fund”.

For his part, Managing Director of ASN Financial Services, Mr. Johannes Okutu, observed with keen interest the burgeoning population of Ghana and the clamor of its citizen for a place to retire after a day’s work called a home. He lamented on how corporate Organizations and real estate companies realizing how crucial homes are to people as a means for survival but instead exploit innocent clients all in the name of business of providing affordable housing to people.

“It really sadden our heart when we’ve realized that the terms “affordable homes, home financing, mortgages” have become refrains that are usually song to a bait unsuspecting potential homeowners” he stated.

Having recounted all the challenges associated with homeownership in Ghana, he announced that these challenges are about to be a thing of the past with the  introduction of the Home Investment Fund(HIF) which is being championed by ASN Financial Services. He defines HIF as another first and unique homeownership and mortgage product which makes home acquisition and mortgage repayment very easy and comfortable.

Explaining exactly how the fund works, he said: “HIF offers potential homeowners the opportunity and privilege of time to make a monthly contribution over a period of 1 to 5 years towards the attainment of 20% of the cost of the building from ASN Construction, whilst ASN Financial Services completes the payment with an affordable mortgage facility”

He further clarified, “The remainder of the 80% which is provided by ASN Financial Services as a mortgage facility will be repaid by the client within a period of 5 to 30 years.

According to Mr. Okutu,  the  fund also comes enormous benefits, for example  20% interest offer which makes ASN Holdings mortgage facility arguably the cheapest in the country. Another benefit of the Home Investment Fund, he indicated is ..whilst clients are contributing towards the attainment of the 20% of the building; their monthly contribution attracts an interest rate of 12%.

In addition, HIF home acquisition product attracts no hidden charges such as facility fee, search fee, closing fee. Also in the first year of acquisition of the building, ASN financial Services provide free life insurance and mortgage protection.

He equally advised all Ghanaians regardless of their status or salary structure to pick up a form and register to be enrolled on the Home Investment Fund to become proud homeowners in the future.

HIF is a joint homeownership product of ASN financial services Limited and ASN construction Limited, both subsidiaries of ASN Holdings which offers potential homeowners the opportunity and privilege to make periodic investments over a period of 1 to 5 years towards the attainment of a minimum of 20% of the price of a building.

ASN Financial Services is the torchbearer of ASN Holdings serving over 15,000 clients in different facets of financial needs with well researched and valued added products. ASN construction and properties came into being as a member of ASN Holdings with the sole mandate of providing affordable homes to Ghanaians living in Ghana and the diaspora.
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