President John Dramani Mahama has announced a GH¢1 billion government contribution to the National Housing Fund (NHF) to support affordable housing delivery across Ghana.
The President made the announcement at the opening of the National Conference on Housing Finance, organised by the National Housing Fund, where Deputy Minister for Works, Housing and Water Resources, Hon. Gizella Tetteh-Agbotui (MP), represented the sector minister.
Held under the theme, “Adequate Housing for Innovative Financing for Ghana’s Housing Future,” the conference brought together key stakeholders to discuss challenges confronting housing delivery and financing in the country.
President Mahama said the GH¢1 billion allocation, to be captured in next year’s budget, would form part of a GH¢3 billion revolving National Housing Fund designed to finance housing projects and expand access to affordable homes.
According to the President, Ghana’s housing crisis extends beyond the country’s estimated 1.8 million-unit housing deficit. He noted that the cost and structure of housing finance also remained a major challenge, particularly because available financing options often failed to reflect the income realities of ordinary Ghanaians.
President Mahama said government’s intervention was therefore aimed at creating sustainable financing mechanisms that would enable more people to own decent and affordable homes.
He further urged the National Housing Fund to broaden its reach, building on interventions that have already supported more than 1,000 people to acquire homes through partnerships with financial institutions.
The President said expanding the Fund’s coverage would help ensure that housing remains within the financial means of more prospective homeowners.
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