The State Housing Company Limited (SHC) has announced plans to recover more than GH¢200 million owed by its clients in areas such as ground rent, land regularisation, lease renewals, development consents, mortgage payments, and gift transactions.
This initiative forms part of broader efforts to boost the company's revenue base.
Speaking at a press conference in Accra yesterday, the Managing Director of the State Housing Company Limited (SHC), Mr John Bawah, said that as part of the recovery measures, the company would offer a 15 per cent waiver on the total amount owed by any client who settled their debt in full between November 3 and December 31 this year.
He stated that the initiative sought to strengthen the company's financial base, encourage compliance, and sustain its operations in delivering affordable housing for Ghanaians.
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Mr Bawah explained that the offer was designed to ease the financial burden on clients while promoting voluntary compliance and helping the company recover funds critical to its survival.
However, he clarified that the discount would not apply to house sales.
He disclosed that SHC, although a state-owned entity, was not subvented and relied solely on internally generated funds for its operations, making revenue recovery vital to the sustainability of the company and its expansion drive.
He said one of the major challenges confronting the company was the accumulation of unpaid obligations by some clients, with some debts dating back as far as six years.
"For Greater Accra alone, we are supposed to be collecting close to GH¢90 million a year from our estate management services, but we are currently tracking below GH¢50 million," he revealed.
Furthermore, he cautioned that after the discount window closes on December 31, 2025, the company would resume the application of penalties, interest, and enforcement measures to recover all unpaid debts, urging clients to take advantage of the limited-time offer to avoid legal action.
To enhance service delivery and improve convenience for clients, Mr Bawah announced that the company would, before the end of the year, inaugurate a 24-Hour Premium and Express Service Centre in line with President John Dramani Mahama's 24-hour economy vision.
He said the new centre would provide round-the-clock payment, documentation, and customer service support.
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