President John Dramani Mahama has directed the Minister of Finance to allocate GH¢1 billion in the 2027 Budget as the government’s contribution to a GH¢3 billion National Housing Fund.
He explained that the money would be placed in the National Housing Fund and made available on a revolving basis to finance housing projects and expand access to affordable housing.
The President stressed that the intervention formed part of measures to address the country's housing deficit and improve access to long-term housing finance.
Opening the 2026 National Conference on Housing Finance in Accra yesterday, President Mahama said the government would also explore innovative financing arrangements, including mortgage refinancing, rent-to-own schemes, employer-supported housing and partnerships with financial institutions and developers to make decent housing more accessible to Ghanaians.
The conference
The National Conference on Housing Finance seeks to bring together key stakeholders to explore innovative financing models, institutional reforms and public-private partnerships to address the country's housing deficit.
On the theme: “Adequate housing for all: Innovative financing for Ghana’s housing future," the two-day conference, being held on October 7 and 8, 2026, came amid persistent challenges in Ghana’s housing sector, including rising construction costs, limited access to long-term financing, high mortgage rates and affordability constraints.
These challenges continue to make it difficult for many households, particularly low- and middle-income earners, to access adequate and affordable housing.
It is organised by the National Homeownership Fund (NHF) with support from other corporate firms.
The opening ceremony was attended by the Minister of Local Government, Chieftaincy and Religious Affairs, Mahama Ayariga; the Deputy Minister of Works, Housing and Water Resources, Gizella Tetteh-Agbotui; the Deputy Minister of Finance, Thomas Nyarko Ampem; the Board Chairman of NHF, Okoamankra Kwame Akwonu X; the Chief Executive Officer (CEO) of NHF, Prosper Hoetu, and the Head of Advisory Services at Shelter Afrique Development Bank, Fahima Said Bille, among other officials.
Innovative housing financing
President Mahama said the revolving fund would enable the government to mobilise additional capital and provide financing for housing on a sustainable basis.
He called for innovative financing arrangements, including mortgage refinancing, securitisation, employer-supported schemes and responsible financial technology solutions, to reduce the cost of home ownership.
The President urged financial institutions to develop alternative ways of assessing the repayment capacity of informal sector workers based on their savings history and verifiable business cash flows.
He said the objective was to create a financing system in which developers could build with confidence, lenders could invest responsibly and households could acquire homes without being burdened by excessive debt.
Human dignity
President Mahama said adequate housing was a matter of human dignity and a human right, as well as essential infrastructure for national development.
"Adequate housing is a matter of human dignity and is a human right. It is also essential infrastructure for national development. A decent home supports a household.
"It supports healthy families. It supports learning, productivity, and the general well-being of the family," he said.
He stated that the country’s housing deficit stood at 1.8 million units, while more than 30 per cent of existing housing stock was inadequate.
The situation, therefore, required the government not only to build additional homes, but also to improve the conditions in which many Ghanaians currently lived, President Mahama stated.
Housing finance deficit
The Deputy Minister of Works, Housing and Water Resources said Ghana’s housing challenge was not only a deficit of houses but also a deficit in housing finance.
Mrs Tetteh-Agbotui said the country needed to create conditions that would enable developers to produce affordable houses at scale, while making it easier for ordinary Ghanaians to finance them.
She said the government would deploy public land, infrastructure and policy instruments, alongside public-private partnerships, to reduce the cost of housing production.
Mrs Tetteh-Agbotui called for a range of financing products, including longer-term mortgages, housing microfinance, staged construction finance and rent-to-own and shared-equity schemes to meet the different needs of Ghanaians.
Long-term financing
For his part, the Deputy Finance Minister stressed that the government would prioritise the mobilisation of dependable, long-term cedi financing to make housing more affordable for Ghanaians.
Mr Ampem explained that improving the country’s sovereign creditworthiness and reducing the cost of capital were critical to lowering the risk and cost of long-term housing finance.
The government would also work with banks, pension funds, insurers, developers and development partners to expand financing options while ensuring that public support translated into completed and occupied homes, he added.
Mortgage interest cut
For his part, Mr Hoetu said the fund had resumed lending under the National Mortgage Scheme at an interest rate of 8.4 per cent, down from 13.5 per cent.
He said developer financing had also been reduced to 10.4 per cent through prudent economic management and a blended financing arrangement between the NHF and partner financial institutions.
Mr Hoetu added that the response had been encouraging, with increased applications from prospective homeowners and interest from more financial institutions to participate in the scheme.
