Mahama Announces GH¢1 Billion Allocation For Revolving National Housing Fund

Story By: Zainab Ali

President John Dramani Mahama has announced a GH¢1 billion allocation in the 2027 Budget towards a revolving National Housing Fund intended to expand access to affordable housing in Ghana.

The President made the announcement at the opening of the National Conference on Housing Finance in Accra, where stakeholders discussed ways of improving housing finance and making decent accommodation more accessible to Ghanaians.

According to the President, the GH¢1 billion will form part of the government’s contribution to a broader GH¢3 billion fund. He said the government would not be the only source of financing, with pension funds, insurance companies, development finance institutions and diaspora investors expected to play a role.

Mahama said the National Housing Fund would have a broader mandate than the former National Home Ownership Fund, moving beyond simply helping individuals purchase homes to also supporting housing delivery and increasing the supply of affordable housing.

He further disclosed that the housing project at Saglemi is expected to deliver 1,500 housing units by next year, while a district housing programme is being piloted in eight districts.

The President also stressed that affordable housing cannot be achieved simply by reducing the price of houses. He said proper roads, drainage, water, sanitation, schools, healthcare and other essential services must be incorporated into housing developments.

The announcement comes as Ghana continues to face challenges surrounding housing affordability, land administration, financing and access to suitable accommodation.