The government has been urged to shift its focus from simply building houses to creating the financial scheme needed to make housing affordable for ordinary Ghanaians.
The Chief Executive Officer (CEO) of the Akka Kappa Ghana, Jolanda Castagna, said Ghana’s housing crisis was primarily an affordability problem despite an estimated deficit of 1.8 million units.
She explained that the country needs long-term financing mechanisms such as mortgage guarantee schemes, dedicated housing funds and incentives that attract private capital into the affordable housing segment.
In an interview with the Daily Graphic in Accra, Ms Castagna stated that many large-scale government housing projects have struggled due to funding gaps, bureaucratic delays and policy discontinuity across political administrations.
“We need a sustained collaboration among government, financial institutions, pension funds, developers and investors to build a housing finance system that treats affordable housing as long-term national infrastructure rather than a short-term political project,” she said.
Awards
Ms Castagna received the Best CEO of the Year award in the Real Estate Brokerage category at the 10th CEO Summit, which recognises outstanding leadership and organisational impact across various sectors.
The award acknowledged her role in steering Akka Kappa Ghana into one of the country's leading real estate firms, with operations spanning sales, lettings, property management, construction consultancy and relocation services.
With more than three decades of experience in Ghana's property market, she has built a reputation for championing transparency, professionalism and client-centred service delivery in the industry.
Affordability challenge
Touching on the country's housing deficit, Ms Castagna stated that Ghana's housing challenge was largely one of affordability rather than supply, explaining that although thousands of housing units remained vacant across major cities, they were priced beyond the reach of most Ghanaians.
She said high land acquisition costs, expensive imported construction materials, costly financing and inadequate infrastructure had made affordable housing development difficult and unattractive to many developers.
She stressed that the country could make meaningful progress by establishing long-term financing mechanisms, including government-backed mortgage guarantee schemes, dedicated housing funds and structures that channel pension fund assets into affordable housing projects.
Role of private sector
Ms Castagna stated that the private sector could play a meaningful role in supporting the government's affordable housing agenda, but the necessary conditions to attract investment were largely absent.
She said affordable housing would not be delivered at scale unless government de-risked the sector through measures such as land contributions, guarantees and subsidised financing mechanisms that would encourage private capital participation.
“Every new government in Ghana has tended to rebrand or abandon its predecessor’s housing programmes rather than build on them, and that inconsistency is precisely what makes private sector commitment difficult to sustain,” she said.
Client-centred approach
Reflecting on the award, Ms Castagna said Akka Kappa's success had been built on a strong commitment to client satisfaction, accountability and trust.
She explained that the company had consistently maintained high professional standards and prioritised transparency in a sector that had historically struggled with trust and inconsistent practices.
“Trust is the foundation of growth, and today we can genuinely say that Akka Kappa is a trusted brand.
That did not happen overnight; it is the result of consistently holding ourselves to a high standard, even when it would have been easier not to,” she said.
Growth opportunities
Ms Castagna said Akka Kappa was expanding its focus on real estate investment advisory and construction consultancy services to meet the evolving needs of local and diaspora investors.
She explained that Ghana's political stability, growing middle class and increasing diaspora interest continued to make the country an attractive destination for real estate investment despite challenges relating to regulation and market maturity.
