President John Dramani Mahama announced a GH¢1 billion allocation in the 2027 budget to expand the National Housing Fund, aiming to increase access to affordable housing across Ghana. The announcement came at the opening of the National Conference on Housing Finance in Accra, held to mark World Habitat Day. The conference runs for two days under the theme “Adequate Housing for All, Innovative Financing for Ghana’s Housing Future.”
Mahama said the GH¢1 billion was part of a larger GH¢3 billion fund. He directed the Finance Minister to ensure the government’s contribution is included in the upcoming budget. The National Housing Fund is intended to operate as a revolving fund.
He clarified that government money would not be the sole source of financing. Pension funds, insurers, development finance institutions, and diaspora investors could also provide capital. Mahama said these investors could participate through structures that protect their interests while supporting viable housing projects.
The President pointed to the blended finance approach promoted under the 24-Hour Economy and Accelerated Export Development Programme as a model for mobilising such resources. He said targeted public and concessional financing could attract private investment and manage risks.
The National Home Ownership Fund Limited has been restructured and renamed the National Housing Fund Limited. Mahama said this change aimed to broaden the institution’s mandate beyond homeownership financing to supporting housing delivery and expanding affordable housing options.
Mahama reaffirmed the government’s commitment to delivering decent and affordable housing at scale. This includes using government and institutional land banks effectively, supporting private investment, and reviving stalled housing projects.
He cited the Saglemi housing programme, expected to deliver 1,500 housing units by 2024. The Ministry of Works, Housing and Water Resources, in collaboration with the National Housing Fund, is piloting a district housing programme in eight districts, which Mahama said the government would accelerate in the next financial year.
Other projects include the Tema Development Corporation’s Oxygen City in Ho, Volta Region, and the State Housing Company’s Green City at Dedesua in the Ashanti Region, both contributing to Ghana’s housing stock.
Economic stability remains critical, Mahama said. He argued that lower inflation and more favourable lending conditions would improve prospects for construction and mortgage finance. The government’s role is to ensure these gains translate into tangible benefits for households.
“We must also mobilise capital that is suited to the long life of housing investments,” Mahama said.
He stressed that housing development must go beyond building houses. It must create integrated communities featuring roads, water, drainage, sanitation, schools, healthcare, and other social facilities. Mahama warned that lower house prices would offer little relief if families still face high commuting costs or struggle to access basic services.
“Land administration, planning, planning approvals, infrastructure provision, and housing finance must all work together as a symphony,” he said.
Mahama called for housing to be incorporated into the planning of industrial enclaves under the government’s economic transformation agenda. He said providing residential facilities close to industrial enclaves would reduce commuting costs, improve workers’ productivity, and give them more time with their families.
However, he noted that uncertainties over land titles and delays in planning approvals increase costs, discourage investment, and ultimately burden households.
Ahmed Ibrahim, Minister of Works, Housing and Water Resources, proposed in a speech read on his behalf that the conference be institutionalised as an annual National Housing Finance Conference. He said such a platform would allow government, financial institutions, developers, professionals, labour, academia, and development partners to review progress and agree on practical solutions.
Ibrahim described adequate housing as a fundamental human right and an important driver of economic development. He said housing creates jobs, stimulates local industries, deepens financial markets, and contributes to better health, productivity, social stability, and dignity.
Mahama Ayariga, Minister of Local Government, Chieftaincy and Religious Affairs, described housing as a challenge but also an opportunity.
Prosper Hoetu, Chief Executive Officer of the National Housing Fund Limited, said Ghana needed a housing finance system that recognises the different circumstances of households and offers multiple pathways to home ownership.
According to Joy Online.
