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 revolving National Housing Fund.
The President said the fund would provide financing for housing projects and help more Ghanaians access affordable homes.
He made the announcement on Wednesday, October 7, 2026, when he opened the maiden National Conference on Housing Finance in Accra.
“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,” President Mahama said.
He said Ghana’s housing challenge was not only a matter of inadequate housing supply but also the difficulty many households face in securing affordable financing.
President Mahama noted that traders, artisans, farmers, transport operators and other self-employed workers often have regular incomes but struggle to qualify for mortgages because they do not have payslips or conventional banking records.
He therefore urged financial institutions to consider alternative ways of assessing borrowers, including their savings history and verifiable business cash flows.
Ghana’s housing deficit currently stands at 1.8 million units, according to figures presented at the conference.
President Mahama said the scale of the deficit required the country to increase the number of people who become homeowners each year while ensuring that the cost of financing remains within their means.
The National Housing Fund’s Mortgage Scheme currently offers cedi-denominated mortgages at an interest rate of 8.4 per cent, down from 13.5 per cent, while financing for developers under the scheme is at 10.4 per cent.
More than 1,000 people have so far been supported to own homes through interventions involving the Fund and partner financial institutions, according to the President.
He said the government would seek to extend such financing to more Ghanaians as part of efforts to address the housing challenge.
President Mahama also announced a new Easy Rent programme under the National Housing Fund to help workers deal with the burden of large upfront rent payments.
Under the proposed arrangement, the NHF would pay the rent advance on behalf of a worker, who would then repay the amount through monthly instalments.
The President said the programme was intended to ease the financial pressure created by rent advances, particularly on young households.
He recalled his own experience when he left his father’s house to begin life with his wife, Lordina, saying the additional fee paid to a housing agent almost depleted their finances.
He said many young Ghanaians faced similar challenges, with rent advances consuming savings that could otherwise be used for children’s education or family businesses.
The Easy Rent programme is expected to complement the existing National Rental Assistance Scheme, which provides rent advances to qualifying tenants who repay through monthly instalments.
