President John Dramani Mahama has directed the Minister of Finance to allocate GH¢1 billion in the 2027 Budget as government’s contribution to a GH¢3 billion revolving fund for the National Housing Fund.
President Mahama said the allocation would be placed in the National Housing Fund and used to finance housing projects on a revolving basis.
“And in this regard, I am pleased to announce that I have directed the Minister of Finance to allocate one billion Ghana cedis in next year’s budget as government’s contribution to the three billion revolving fund for the National Housing Fund,” he said.
“This money will be placed in the National Housing Fund and it will be available for financing housing in a revolving manner,” President Mahama added.
He made the announcement at the National Conference on Housing Finance, convened in commemoration of World Habitat Day under the theme, “Adequate Housing for All, Innovative Financing for Ghana’s Housing Future.”
The President said the establishment and financing of the revolving fund formed part of efforts to strengthen the capacity of the National Housing Fund to support housing delivery.
He said the fund was expected to help mobilise financing for housing and expand access to affordable housing opportunities.
President Mahama earlier said government remained committed to delivering decent and affordable housing at scale, including through the effective use of government and institutional land banks, support for private investment and the revival of stalled housing projects.
He said the government’s housing programme at Saglimi aims to complete 1,500 housing units by next year, while the Ministry of Works, Housing and Water Resources, in collaboration with the National Housing Fund, is piloting a district housing programme in eight districts.
The President said the district housing programme would be accelerated in the next financial year.
He also urged financial institutions, developers, employers, organised labour and development partners to work with government to mobilise resources and expand housing finance.
President Mahama said the National Housing Fund should also explore a range of financing mechanisms, including mortgage refinancing and securitisation, employer-supported schemes and responsible financial technology solutions.
He said such financing instruments must be assessed based on their ability to lower costs, expand access and remain sustainable.
The President further announced that the National Housing Fund would introduce an Easy Rent programme to help workers deal with the burden of large rent advances.
Under the programme, he said, the fund would pay the rent advance for eligible workers, who would subsequently repay the amount monthly.
President Mahama said the government’s investment in the National Housing Fund was intended to support a financing system capable of delivering more housing and making home ownership and rental accommodation more accessible to Ghanaians.
