The Government of Ghana has announced plans to mobilise dependable, long-term financing in cedis to reduce the cost and risks of housing delivery. This initiative aims to make homes more affordable for Ghanaian households. The Deputy Minister for Finance, Mr Thomas Nyarko Ampem, revealed this at the opening of a two-day National Conference on Housing Finance in Accra. The conference, themed "Adequate Housing for all: Innovative Financing for Ghana's Housing Future," brought together stakeholders to discuss measures to address the country's housing financing challenges.
According to the 2021 Population and Housing Census, 34.6 per cent of households in Ghana live in rented accommodation, with the proportion rising to 46 per cent in urban areas. These figures demonstrate the need for housing policies that address affordability and location alongside construction. The Deputy Minister emphasised that homeownership cannot be the only solution, and that affordable rentals, starter homes, rent-to-own arrangements, incremental building, and targeted social housing are also necessary to meet the varied needs of households.
Recent economic improvements have created better conditions for housing finance in Ghana. Headline inflation has fallen to 5.0 per cent in August 2026 from 23.8 per cent in 2024. Borrowing costs have also decreased from about 30 per cent to between nine and 13 per cent, making financing more affordable for businesses and households. These developments are expected to support the government's efforts to mobilise long-term cedi financing for affordable housing.
The Government is working to improve Ghana's sovereign creditworthiness, which currently stands at B-with a stable outlook by Standard and Poor's. The medium-term ambition is to attain an investment-grade rating, which would help improve access to international capital and reduce risk premiums for Ghanaian banks and companies seeking long-term financing. Improving sovereign creditworthiness would benefit banks, builders, and borrowers by influencing the availability and cost of capital for housing.
To reduce the cost and risk of delivering homes, the Government will improve land ownership systems, local approvals, infrastructure planning, procurement, and access to quality local building materials. The Deputy Minister emphasised that housing delivery must be linked to economic opportunities, and that stakeholders should consider where workers would live when industrial parks, agro-processing centres, and commercial hubs are developed.
The National Housing Programme, to be presented in the 2027 Budget, will focus on measurable targets, sustainable funding, and clear responsibilities across the housing sector. The GH¢500 million allocation for the District Housing Scheme in the 2026 Budget provides a starting point, while progress towards delivery targets, including the first 700 Saglemi homes scheduled for March 2027, will be tracked transparently.
The success of housing interventions will be measured by completed and occupied homes, manageable repayments, investment mobilised, and households served. The government's efforts to mobilise long-term cedi financing and reduce the cost and risks of housing delivery aim to make homes more affordable for Ghanaian households. The National Conference on Housing Finance will discuss innovative financing solutions to address the country's housing challenges.
Key points
- The government will work with banks, pension funds, insurers, and development partners to mobilise capital suited to the long-term nature of housing.
- The National Housing Programme will focus on measurable targets, sustainable funding, and clear responsibilities across the housing sector.
- The government's efforts aim to make homes more affordable for Ghanaian households by reducing the cost and risks of housing delivery.
