- Two firms shortlisted for Saglemi Housing Project
- Five bids submitted, two selected for negotiations
- Project stalled despite $197 million payment
- Govt committed to transparent, meticulous approach
The Saglemi Housing Project is finally gaining momentum as two preferred bidders have been shortlisted for final negotiations. This development marks a significant step towards resuming work on the stalled project, which aimed to provide 5,000 affordable housing units.
After weeks of rigorous evaluation and due diligence, transaction advisors Deloitte Ghana notified the Government of Ghana that either of the two firms may be selected to complete the project. This decision follows a thorough assessment of the bids submitted by interested parties.
Initially, at least 10 firms expressed interest in partnering with the government to finish the uncompleted project. However, only five firms submitted bids by the July 2024 deadline. The Ministry of Works and Housing will now carefully evaluate these bids to select the firm with the most favorable negotiating terms.
Housing Minister Kojo Oppong Nkrumah assured that the government will remain focused and meticulous throughout the transaction. This emphasis on diligence is crucial, given the project’s history of delays and setbacks.
The Saglemi Housing Project was launched with a $200 million contract, but its progress has been marred by challenges. By January 2017, only 1,506 units were completed or in various stages of completion, despite $197 million already paid to contractors.
President Nana Addo Dankwa Akufo-Addo has approved a framework for negotiations with the successful bidder(s), demonstrating the government’s commitment to resolving the project’s issues [1).
The Request for Proposal (RFP) issued by the government invited private sector entities to complete and operationalize the Saglemi Affordable Housing Project. This strategic decision aims to revitalize the project and provide much-needed affordable housing units.
As the government moves forward with the negotiation process, it’s essential to ensure transparency and accountability. The Ministry of Works and Housing must carefully evaluate the bids and select the firm that best aligns with the project’s objectives.
The successful completion of the Saglemi Housing Project will not only provide affordable housing units but also boost economic growth and development in the region.
With the negotiation process underway, Ghanaians can expect a renewed focus on affordable housing. The government’s efforts to revive the Saglemi Housing Project demonstrate its commitment to addressing the country’s housing needs.
