Financing Informal Housing Provisioning in the Kumasi Metropolis of Ghana

S. O. Mensah, G. A. Kusi, MA

Financing Informal Housing Provisioning in the Kumasi Metropolis of Ghana

S. O. Mensah, G. A. Kusi, MA

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Publisher:: University of Energy and Natural Resources
Publication Type:: Journal Article
Citation:: Journal of Energy and Natural Resource Management, 2018, 2, (3)
Issue Date:: 2018-02-21

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Field	Value	Language
dc.contributor.author	S. O. Mensah, G. A. Kusi, MA
dc.date.accessioned	2022-02-08T06:07:57Z
dc.date.available	2022-02-08T06:07:57Z
dc.date.issued	2018-02-21
dc.identifier.citation	Journal of Energy and Natural Resource Management, 2018, 2, (3)
dc.identifier.issn	2026-6189
dc.identifier.uri	http://hdl.handle.net/10453/154295
dc.description.abstract	<jats:p>Inadequate housing supply is one of the biggest challenges facing both developed and developing countries today with housingfinance being a critical factor. The informal sector is the largest housing supply system in Ghana but has not been able to meetthe increasing housing demand. This is partly because of inadequate and ineffective financial mechanisms for financing informalhousing provision in Ghana. The Study therefore investigated the major financing mechanisms used by the informal sectorand factors which hinder their access to formal credit facilities. A cross-sectional research design was adopted for the Study.Simple random sampling was used to select the ten communities whilst the convenience sampling method was used to select thehomeowners. A total of 310 interviews were conducted out of the total determined sample size of 392. The major findingsemanating from the Study included the dominant use of informal source of housing finance; the existence of an underdevelopedmortgage market; and uneasy access to formal credit facilities from financial institutions. These have led to homeowners buildingincrementally and hence delay in housing completion. The Study therefore recommends microfinance for housing, site andservices scheme and a non-mortgage lending facility for the informal sector.</jats:p>
dc.language	en
dc.publisher	University of Energy and Natural Resources
dc.relation.ispartof	Journal of Energy and Natural Resource Management
dc.relation.isbasedon	10.26796/jenrm.v2i3.48
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Financing Informal Housing Provisioning in the Kumasi Metropolis of Ghana
dc.type	Journal Article
utslib.citation.volume	2
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (Research)
pubs.organisational-group	/University of Technology Sydney/DVC (Research)/Institute For Sustainable Futures
utslib.copyright.status	closed_access	*
dc.date.updated	2022-02-08T06:07:56Z
pubs.issue	3
pubs.publication-status	Published online
pubs.volume	2
utslib.citation.issue	3

Abstract:

Inadequate housing supply is one of the biggest challenges facing both developed and developing countries today with housingfinance being a critical factor. The informal sector is the largest housing supply system in Ghana but has not been able to meetthe increasing housing demand. This is partly because of inadequate and ineffective financial mechanisms for financing informalhousing provision in Ghana. The Study therefore investigated the major financing mechanisms used by the informal sectorand factors which hinder their access to formal credit facilities. A cross-sectional research design was adopted for the Study.Simple random sampling was used to select the ten communities whilst the convenience sampling method was used to select thehomeowners. A total of 310 interviews were conducted out of the total determined sample size of 392. The major findingsemanating from the Study included the dominant use of informal source of housing finance; the existence of an underdevelopedmortgage market; and uneasy access to formal credit facilities from financial institutions. These have led to homeowners buildingincrementally and hence delay in housing completion. The Study therefore recommends microfinance for housing, site andservices scheme and a non-mortgage lending facility for the informal sector.

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http://hdl.handle.net/10453/154295