The highly-anticipated Property Valuation Conference, organized by the Valuation Division of the Lands Commission, commenced on Tuesday, 20 June 2023 at the plush Akoma Plaza with the display of great enthusiasm and fervor from distinguished personalities drawn from various facets of Ghana’s land administration both in public and private practice.
Themed “Standardization of Property Valuation Practice and the Land Act 2020,” the conference aims to foster efficient work delivery and provide a platform for valuable discussions relative to the development of a standard mechanism for the precise valuation of land properties and the effectual implementation of the much-touted Land Act 2020.
The opening ceremony began with a warm welcome address from Dr. Pius Asumadu, the Acting Regional Lands Officer (RLO) of the Western Region. He extended his greetings to all the participants, emphasizing the conference’s goal of addressing emerging issues in the Land Act and highlighting new trends in valuation practice. Dr. Asumadu encouraged attendees to immerse themselves in the conference experience and enjoy the best products and services the Western Region had to offer.
Following the welcome address, Surv. Dr. Mrs. Theodora Mends, the Director of the Valuation Division, took the stage to elucidate the purpose of the conference. She emphasized the importance of standardized property valuation practices within the framework of the recently enacted Land Act 2020. Dr. Mends revealed that the introduction of the Annual Valuation Conference aims to promote collaboration, knowledge sharing, and skill enhancement among the division’s staff and relevant stakeholders by collectively addressing challenges and staying up to date with industry developments, the Land Valuation Division aims to provide even more accurate and valuable services to the government and the entire country.
“The Conference also aims to provide a platform for discussions, innovations, and directions to achieve uniformity and efficiency in property valuation practices under the Lands Act 2020” she indicated.
Dr. Isaac Kofi Sagoe, the Regional Chairperson of the Western Regional Lands Commission, followed with his opening remarks, setting the tone for the conference’s proceedings. He expressed his support for the objectives of the conference and its potential to advance the field of property valuation. Dr. Sagoe’s encouraging words inspired participants, igniting their enthusiasm for the days ahead.
The Executive Secretary, Surv. James Dadson in his statement, underscored the significance of the conference in advancing the field of compensation valuations under the Land Act 2020. He stressed the importance of teamwork and collaboration among the staff, highlighting the need for a unified approach to delivering the best possible outcomes.
Lawyer Alex Quaynor, the National Chairman of the Lands Commission, added to the momentum by tasking all participants to maintain focus throughout the conference. He expressed his hope that by the end of the event, practical solutions to some valuation policies would emerge, benefiting the industry as a whole.
Surv. Yvonne Sowah, Chairperson of the Greater Accra Regional Lands Commission and Chairperson of the Valuation Technical Committee shared her optimism about the conference’s potential to drive more efficient valuation practices. Her insights and expertise added weight to the discussions, fueling the participants’ determination to make valuable contributions.
Surv. Emmanuel Frimpong Okyere, Head of Compensation at the Land Valuation Division, took the opportunity to expose participants to the revision of compensation valuation processes. His presentation offered a comprehensive overview of the changes and improvements being implemented to ensure fair and just compensation for landowners.
Returning to the podium, Surv. Dr. Mrs. Theodora Mends explored compensation and resettlement policies implemented by the World Bank and other development partners. She shared valuable insights into best practices in these areas, further enriching the discussions and providing a broader perspective on property valuation.
Surv. Mrs. Hellen Arthur also touched on the Compensation and Resettlement Policies of the World Bank and other Development Partners.
The conference also featured presentations from sponsors.
There was also a showcase of the use of software in property valuation. They focused on the development of comparable databases, Enterprise Land Information Systems (ELIS), and advanced valuation techniques. Experts such as Dr. Ben Quaye, Head of Special Projects, explained how ELIS functions in handling stamp duty assessment and payment.
Mr. Michael Yeboah and Mr.Peter Donkor captivated the audience with their knowledge and innovative approaches to property valuation using some identified software.
A presentation on stamps and challenges was delivered by Mr. Stephen K. Mawuli which generated a lot of interest.
The Property Valuation Conference has drawn professionals from various fields, including public and private entities.
The day ended with several questions, comments, and suggestions which enriched the discourse. Experts in the practice proffered solutions to the myriad of challenges that were raised.
Day two (2) would have presentations on Special Valuations, including those related to Filling Stations, Ponds, Machinery, Mining, and Masts, by Dr. Surv. Jonathan Ayitey, Surv. Emmanuel Okyere (Esq.), and Surv. Samuel Tackie.
Surv. Benjamin Arthur and Mr. Nyanyo Addo will also take the podium to shed light on the current trends, processes, and procedures in Rating Valuation.
Surv. Dr. Benjamin T. Osafo and Surv. Samuel Enini will again turn the spotlight on General Valuation, encompassing both Capital and Rental valuation.
Compensation Valuation for Buildings, Structures, and Crops which is the last presentation would be addressed by
Surv. Samuel Benson Adjei and Mr. Michael Boye.
At the end of the conference, participants were issued certificates of participation.
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COMMS UPDATE
