The National Housing Fund (NHF) Limited in Ghana has completed a rapid diagnostic assessment of the country's housing sector. This assessment aims to guide the mobilisation of resources and investment into housing. The NHF's Chief Executive Officer, Mr. Prosper Hoetu, announced that a high-level summary of the assessment would be presented at the National Conference on Housing Finance in Accra. The conference, themed "Adequate Housing for All: Innovative Financing for Ghana's Housing Future," brings together experts to discuss practical ways to expand access to housing finance.
The diagnostic assessment was conducted using the VIRAL Diagnostic Toolkit of Shelter Afrique Development Bank. The Ministry of Works, Housing and Water Resources partnered with the NHF for this initiative. The toolkit examined the Vision, Institutions, Regulations, Actors, and Local Initiatives within Ghana's housing ecosystem. The findings will inform the development of a Country Housing and Urban Development Partnership Strategy. This strategy will provide a framework for mobilising resources and investment into the housing sector.
The National Conference on Housing Finance will focus on innovative financing solutions for Ghana's housing future. Experts from Ghana and other countries are in attendance to discuss ways to address constraints on housing supply. The conference will also explore technologies that promote green and climate-smart housing. Additionally, discussions will centre on the increased use of non-interest banking and green financing for housing. These initiatives aim to make housing more accessible and affordable for Ghanaians.
The NHF has developed a homebuyers' database to address housing offtake challenges. This multi-sided platform provides real-time information on housing demand and supply in Ghana. The database will be showcased during the conference to gather inputs from stakeholders on how it can be improved. According to Mr. Hoetu, the database will help prospective homebuyers and address housing demand. This initiative is a step towards creating a more efficient housing market.
Effective housing finance requires a system that recognises the diverse circumstances of Ghanaians. Mr. Hoetu emphasised that multiple pathways to homeownership are necessary. While mortgages may serve some households, rent-to-own arrangements and social housing will be necessary for others. The NHF is committed to working with stakeholders to develop a housing finance system that provides more Ghanaians with access to decent and affordable housing.
The conference is expected to adopt a Commitment Statement outlining actions stakeholders can pursue to strengthen housing finance and housing delivery. This statement will serve as a roadmap for future initiatives. The NHF reaffirmed its commitment to collaborating with government, financial institutions, development partners, and other stakeholders. Together, they aim to develop a housing finance system that addresses Ghana's housing needs.
The National Housing Fund's efforts to mobilise investment into Ghana's housing sector are ongoing. The NHF's initiatives aim to make housing more accessible and affordable for Ghanaians. With the support of stakeholders and development partners, the NHF is working towards creating a more efficient housing market. The outcome of the conference and the implementation of the Country Housing and Urban Development Partnership Strategy will be crucial in achieving this goal.
Key points
- The National Housing Fund has completed a diagnostic assessment to guide the mobilisation of resources and investment into Ghana's housing sector.
- The assessment used the VIRAL Diagnostic Toolkit of Shelter Afrique Development Bank to examine Ghana's housing ecosystem.
- The NHF aims to develop a housing finance system that provides more Ghanaians with access to decent and affordable housing.
