Oppong Nkrumah Launches Hydro Fund with GH¢1.5m Seed Funding

Ghana has taken a significant stride towards tackling its enduring housing and flooding issues with the launch of the Built Environment National Conference on Housing and Hydrology (BENCHH) 2024.

The three-day event, inaugurated at Labadi Beach Hotel, was formally opened by Kojo Oppong Nkrumah, Minister for Works and Housing.

Minister Oppong Nkrumah announced the establishment of the Ghana Hydrological Fund, a pivotal initiative aimed at enhancing flood risk management and water resources across the country.

Highlighting the urgent need for sustainable funding, Minister Oppong Nkrumah revealed a seed funding of GH¢1.5 million allocated by the government through the Ministry of Works and Housing.

He called upon all stakeholders, including development partners, to contribute to the success of the fund, emphasizing its role in accelerating critical projects like drainage construction and dredging.

The Minister underscored Ghana’s vulnerability to flooding, particularly during the rainy season, exacerbated by inadequate drainage infrastructure and the impacts of climate change.

He noted that only 2% of drainage channels in Greater Accra Region, needing concrete lining, have been addressed, necessitating urgent action.

The Ghana Hydrological Fund aims to provide a structured financial mechanism to expedite essential projects, addressing the country’s flooding challenges head-on.

In addition to flooding, Minister Oppong Nkrumah addressed Ghana’s housing deficit, currently estimated at 1.8 million units.

He acknowledged constraints in affordable housing programs due to funding limitations and project delays inherited from previous administrations.

The Minister advocated for robust public-private partnerships, offering incentives to private developers to undertake large-scale affordable housing projects.

Throughout the BENCHH 2024 conference, discussions will encompass regulatory reforms and the establishment of a Works Inspectorate Unit to enforce building and safety standards.

Minister Oppong Nkrumah expressed optimism in the outcomes of BENCHH 2024, urging active participation from stakeholders to devise actionable strategies that comprehensively address Ghana’s housing and hydrology challenges.