The Minister for Works and Housing, Mr Kojo Oppong Nkrumah, has issued a directive to the board and management of the Real Estate Agency Council (REAC) to ensure the Agency’s offices are fully operational by April this year.
He emphasized the importance of getting REAC up and running to serve the citizens effectively and streamline real estate transactions.
During his first working visit to the council, Mr Oppong Nkrumah emphasized the urgency of getting REAC fully operational and expressed concern over the delay in the Agency’s operationalization.
“The contractor tells me he wants to use a little over two months to finish the work, but I have tasked him to finish the work by the end of April because we want to get the Agency functioning so that they can serve our citizens,” the Minister stated.
The Real Estate Agency Act, 2020 (Act 1047), passed by Parliament in 2020, created REAC with the mandate to regulate the sector and ensure fairness and transparency in real estate transactions. However, in spite of the legislation’s passage, the Agency has been slow in executing its mandates.
While the Council has been sworn in, its functions remain dormant, with the Chief Executive Officer (CEO) operating from the Ministry of Works and Housing rather than REAC’s designated headquarters.
The CEO of REAC, Nana Osei Turkson, expressed gratitude for the Minister’s visit and seized the opportunity to highlight the Agency’s problems.
He cited a staff deficit, logistical constraints, a need for funds for day-to-day operations, and the necessity of a cloud-based system for remote engagement with clients as major challenges hindering REAC’s effectiveness.
Addressing these challenges, Mr Oppong Nkrumah assured that plans are underway to secure funding for the furnishing, as well as posting of staff to the offices.
Richard Aniagyei, ISD
