REAL ESTATE MINUTE with Cyril Nii Ayitey Tetteh: Re-imagining green and affordable housing: Reflections from the 2025 Ghana Green Building Summit

The summit focused on “Re-Imagining Buildings and Cities for Economic and Social Prosperity.” It connected policy, finance, design, and innovation. Ministers, developers, academics, and international partners attended to advance discussions.

Key Themes and Discussions

The summit stressed the need for sustainable practices in construction. Kenneth Gilbert AJ, Ghana's Minister for Works, Housing, and Water Resources, spoke at the opening. He stated that sustainability is essential due to urbanization and climate change challenges. The government aims to create policies promoting green building practices.

Speakers noted the building sector's role in global greenhouse gas emissions. One speaker emphasized that green buildings are necessary, not a luxury. The government's role in fostering green building through policy was highlighted repeatedly. Innovation and technology use were also key discussion points.

Concerns arose about AI’s energy demands exceeding renewable growth. Richard Sandall from the British High Commission noted this issue as well. He urged architects to consider AI’s impact on energy efficiency.

Several speakers emphasized balancing green design with cultural expectations. They also highlighted the need for training in green building technology.

Now in its sixth year, the Ghana Green Building Summit has become a change driver. It aligns with Ghana’s climate goals and covers Finance, ESG, Cities, and Buildings tracks.

The Panel: The Business Case for Green Affordable Housing

Amos Mthembo from Reall led a panel titled “The Business Case for Green Affordable Housing.” Other experts included Sammy Amegayibor (GREDA Ghana) and Prof. Innocent Kofi Ampadu (KNUST). They discussed affordability, return on investment, policy measures, innovation, and financing.

Amos challenged traditional views of affordability beyond upfront costs. He emphasized considering life-cycle costs of homes over time. Location quality affects long-term running costs too.

Panellists noted that green-certified homes lower default risk for investors. Amos reinforced that green certification signals long-term quality to investors.

They discussed policy measures like VAT waivers to support developers. There were calls for government-backed subsidies to scale green housing effectively.

Panellists stressed aligning green housing with local culture using local materials. Amos proposed a Climate Materials Warehouse initiative to reduce import dependency.

Access to finance remains a major obstacle in affordable housing development. The panel explored mortgage fund models as potential solutions.

Amos shared Reall’s upcoming GAHF initiative aimed at de-risking lending across Africa and Asia.

The Way Forward: A Call to Action

The panel concluded with recommendations for achieving affordable homes under $20,000:

- Tax waivers on green materials
- Transparent government subsidies
- Standardized designs for cost efficiency
- Guarantees to attract private capital
- Awareness-building initiatives

Amos reminded attendees that the bottom 40% seek functionality within their means.

The summit reinforced that climate action is crucial in construction sectors. Continued collaboration among partners is vital for redefining affordable housing solutions together.

This recap was prepared by Nidhi Agarwal and edited by Amos Mthembo from REALL.