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Last week Wednesday at Labadi Beach Hotel, the Real Estate Agency Council (REAC) convened a National Stakeholder Engagement Seminar. It was an intensive day of keynotes, panel discussions, and sponsor exhibitions dedicated to improving how Ghana’s real estate industry operates in practice. Akka Kappa was proud to be among the sponsors and to contribute to the dialogue on raising standards and safeguarding market participants. REAC
In the lead-up to the seminar, government reiterated its drive to “restore integrity” in the real estate sector through the rollout of the Real Estate Agency Act, 2020 (Act 1047) and related enforcement measures across agencies (including tax and land administration). This direction is centre-stage in the public briefings signals a push for transparency, accountability, and consumer protection across transactions. GhanaWeb
Beyond the Act itself, officials also confirmed work on the Legislative Instrument (L.I.) to operationalise key provisions which is another step aimed at strengthening governance, deterring fraud, and building investor confidence. Graphic Online
Our Managing Director delivered a keynote on why practical, enforceable regulation matters on the ground especially Act 1047, which introduced licensing, registration, conduct standards, and oversight for agency practice in Ghana. We shared how processes like documented mandates, KYC, and transparent fee disclosures protect investors, buyers, tenants, and agents and why we’ve kept our business fully compliant for the past decade. Ghana Parliament
The seminar brought together public- and private-sector leaders whose mandates intersect with housing, finance, risk, and professional practice. REAC’s announcement spelled out the remit and objectives: deepen discussions on sustainable regulation; ensure effective enforcement of Act 1047; and promote collaboration among regulators, developers, financial institutions, investors, professional bodies, policymakers, and consumer representatives. The agenda featured plenaries, panels, and networking to align policy with market realities. REAC
Panels translated statute into implementation licensing pathways, documentation standards, CPD, complaint handling, consumer recourse, and the role of professional bodies. Exhibition booths from sponsors showcased tools and services that enable compliance: AML/KYC workflows, secure documentation, valuation standards, insurance solutions, and customer-facing innovations that build trust. For market users, the outcome is simpler: more verified professionals, stronger files, smoother completions. REAC
For buyers, investors, landlords, tenants, and corporate relocation teams, the direction is clear: more verification, clearer processes, stronger documentation, and better recourse. For market participants, it’s a nudge to align systems, mandates, listings, escrow, due diligence so every deal stands up to regulatory and client scrutiny. Ghana Parliament
Akka Kappa supports the Act and the institutions tasked with making it work. Our promise is straightforward: keep our processes clean, our teams trained, and our clients fully informed at every step so the market can move with confidence.
1) What is the Real Estate Agency Act, 2020 (Act 1047)?
It is the law that regulates real estate agency practice in Ghana which covers licensing, registration, conduct, and enforcement. Ghana Parliament
2) What is REAC and what does it do?
REAC implements Act 1047: it registers and licenses professionals and entities, enforces the law, and protects consumer interests. The Council also convenes sector-wide engagements like the Labadi seminar to align policy and practice. REAC+1
3) How is government strengthening integrity in the sector right now?
By advancing enforcement of Act 1047, coordinating with related agencies (e.g., tax, lands), and finalising the L.I. to operationalise the Act’s provisions. GhanaWeb+1
4) How does this help me as an investor or buyer?
You’re more likely to work with verified practitioners, follow clear processes, and complete transactions with stronger documentation and recourse. Ghana Parliament
5) Where can I verify information or learn more?
Start with REAC for regulatory guidance and verification; refer to the Act for the statutory framework; and monitor government communications on the L.I. for implementation timelines. REAC+2Ghana Parliament+2
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