President John Dramani Mahama has announced a one-billion cedi allocation in the 2027 Budget towards a revolving National Housing Fund. The fund aims to expand access to affordable decent housing in Ghana. He made the announcement at the opening of the National Conference on Housing Finance in Accra. The conference was organised by the National Housing Fund Limited in collaboration with the Ministry of Works, Housing and Water Resources.
The two-day conference, held to commemorate World Habitat Day, has the theme: “Adequate Housing for All, Innovative Financing for Ghana’s Housing Future”. President Mahama said the Government’s contribution would not be the sole source of financing for the Fund. Pension funds, insurers, development finance institutions, and diaspora investors could also provide capital through structures that protected their interests while supporting viable housing projects.
President Mahama said the blended finance approach being promoted under the 24-Hour Economy and Accelerated Export Development Programme offered useful lessons for mobilising such resources. Carefully targeted public and concessional financing, he said, could also help attract private investment and manage risks. This approach would ensure that the fund is sustainable and effective in achieving its goals.
President Mahama said the transition from the National Home Ownership Fund Limited to the National Housing Fund Limited was intended to broaden the institution’s mandate. The new focus would move beyond home ownership financing to supporting housing delivery and expanding affordable housing options. This change aims to address the diverse housing needs of Ghanaians.
The President said the Government remained committed to delivering decent and affordable housing at scale. This would be achieved through the effective use of government and institutional land banks, support for private investment, and the revival of stalled housing projects. Several initiatives, including the housing programme at Saglemi, are expected to deliver 1,500 housing units by next year.
A district housing programme is being piloted in eight districts by the Ministry of Works, Housing and Water Resources in collaboration with the National Housing Fund. President Mahama assured that the Government would accelerate the district housing programme in the next financial year. Other projects, such as the Tema Development Corporation’s Oxygen City in Ho and the State Housing Company’s Green City at Dedesua, would also contribute to the country’s housing stock.
President Mahama noted that economic stability was critical to expanding housing finance. Lower inflation and more favourable lending conditions could improve prospects for construction and mortgage finance. He emphasised that housing development must go beyond constructing houses and create integrated communities with essential infrastructure and services.
Key points
- President John Dramani Mahama announces GH¢1bn allocation for a revolving National Housing Fund.
- The fund aims to expand access to affordable decent housing in Ghana.
- The Government’s contribution will be supplemented by pension funds, insurers, and development finance institutions.
