President John Dramani Mahama has announced plans for the government to allocate GH¢1 billion in the 2027 Budget towards the establishment of a GH¢3 billion revolving National Housing Fund aimed at expanding access to affordable housing in Ghana.
The President made the announcement in Accra while opening the maiden National Conference on Housing Finance, which brought together stakeholders to discuss innovative ways of financing housing development and improving access to decent homes.
The proposed National Housing Fund is expected to support affordable housing projects and make housing finance more accessible to Ghanaians, particularly low- and middle-income households struggling with the high cost of housing.
Government Plans New Easy Rent Programme
President Mahama also announced the proposed Easy Rent programme, which is designed to address the challenge of large rent advances faced by many workers across Ghana.
Under the proposed initiative, eligible workers would be able to access support to pay their rent advances and repay the amount gradually through monthly payments.
The programme is expected to ease the financial burden associated with Ghana’s rent advance system and provide workers with greater flexibility when securing accommodation.
Mahama Reaffirms Commitment to Affordable Housing
President Mahama emphasised that every Ghanaian family should have access to a decent, safe and affordable home.
The government’s housing agenda forms part of broader efforts to address Ghana’s housing deficit, improve housing finance and create sustainable opportunities for homeownership and affordable housing development.
The proposed GH¢3 billion revolving fund, together with the Easy Rent programme, is expected to play a key role in the government’s strategy to improve access to housing and strengthen Ghana’s housing finance sector.
The initiatives could also create opportunities for private developers, financial institutions and other stakeholders to participate in expanding Ghana’s affordable housing market.
Source: newsthemegh.com