Ghana News / Housing & Development
President John Dramani Mahama has directed the Finance Minister to allocate GH¢1 billion in the 2027 Budget as the government’s contribution to a GH¢3 billion National Housing Fund aimed at expanding access to affordable housing.
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 (NHF) to support affordable housing and expand access to housing finance.
The President made the announcement on Wednesday, October 7, 2026, when he opened the maiden National Conference on Housing Finance in Accra.
He said the government’s contribution would be placed in a revolving fund and used to finance housing projects and provide sustainable financing options for prospective homeowners.
President Mahama said Ghana’s housing challenge was not only about the shortage of houses but also the difficulty many households face in accessing mortgage financing on affordable terms.
He noted that traders, artisans, farmers, transport operators and other self-employed workers often have regular incomes but struggle to qualify for conventional mortgages because they may not have payslips or traditional banking records.
The President therefore urged financial institutions to adopt alternative methods of assessing the repayment capacity of such applicants. These could include savings histories, verifiable business cash flows and other reliable indicators of income.
According to figures presented at the conference, Ghana’s housing deficit currently stands at about 1.8 million housing units. President Mahama said addressing the deficit would require a significant increase in the number of people able to become homeowners each year.
The National Housing Fund’s Mortgage Scheme currently provides cedi-denominated mortgages at an interest rate of 8.4 per cent, down from 13.5 per cent, while developer financing under the scheme stands at 10.4 per cent.
President Mahama said more than 1,000 people had so far been supported to own homes through interventions involving the Fund and partner financial institutions.
He said the next phase of the programme must extend housing finance to a wider section of the population while ensuring that homes remain within the financial means of intended beneficiaries.
Rent Financing
President Mahama also announced a new National Housing Fund initiative known as Easy Rent, which is intended to help households deal with the financial burden of large upfront rent payments.
Under the proposed programme, the National Housing Fund would pay the rent advance on behalf of a worker, who would then repay the amount through monthly instalments.
The President said the initiative was designed to reduce the pressure that substantial rent advances place on household finances, particularly for young workers and families.
He recalled his own experience when he left his father’s house to begin life with his wife, Lordina, saying the additional payment made to a housing agent nearly depleted their finances.
President Mahama said many young Ghanaians face similar challenges, with large rent advances consuming savings that could otherwise be used for children’s education, business investment and other household needs.
The Easy Rent programme will complement the government’s existing National Rental Assistance Scheme, which provides rent advances to qualifying tenants and allows them to repay the amount through monthly instalments.
The President said the government’s broader housing finance strategy was aimed at making home ownership and rental accommodation more accessible while addressing the financing challenges that continue to limit access to decent housing for many Ghanaians.
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