An Article on Ghana-Korean STX HOUSING PROJECT as said by Honorable Kofi Attoh.


RADIO HOST: What is the major problem with STX that has the country in disagreement prompting others including the opposition not to back it?

Kofi Attoh

The HONORABLE KOFI ATTOH talked about the need not to believe the many misconceptions. He said the country face a $1 million deficit and thus any means by which the Ghanaian government sees as opportunities to curb this deficit was welcomed.
He defined STX as simply: a partnership between Ghanaians and Koreans to build 300000 houses and homes which will later be sold to the Ghanaian general public.
He added, the arrangement in the STX deal included:
The Korean government contributing a sum lump of $10billion which will be used in financing the project. The sale of these houses will be used to repay the said lump sum.
 The government was included because the Korean government was cautious of their investment going down the drain in any political instability in the future. Thus the Ghanaian government inclusion, as a surety incase a new government comes and decides to seize all the buildings.
He affirmed:
 Firstly, STX is not a Ghanaian government loan or a loan to be borrowed by the Ghanaian government.
 Secondly, STX is not a Ghanaian government financed project for the Korean government.
He reaffirmed that the STX was a simple arrangement that goes “I build houses in your country, I sell.”
He said, due to the huge number of houses to be built, the Ghana government decided to buy a certain number of the houses for government workers especially the Ghana Police Servicemen/women. The rest will be available for sale to all private entities. The government involvement acts as an assurance for STX Koreans.
He further noted, the existence of STX in discussion well before the NDC government came into power thus, no need to throw into the garbage and say “it was an NPP affaire”. In his own words he said, “There is no need to be political about anything”.

In his last words he said: They moved on ahead with it because it is for the benefit of the simple Ghanaian.

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