The National Homeownership Fund (NHF) has called on the government to introduce a housing development levy on building materials to shore up resources for affordable housing delivery.
This would help derisk private sector investment through the development of master-planned communities with adequate infrastructure.
Speaking at the 4th Annual General Meeting (AGM) of the Fund, the Chief Executive Officer of NHF, Prosper Hoetu, explained that countries such as Morocco, Kenya, Nigeria and
Algeria were strategically using their housing sectors to drive economic growth and job creation, with some addressing their housing finance gap through levies on selected building materials.
He said Kenya was able to generate approximately $50 million a month from its housing levy, while Morocco generated about $5 million a month, and that Ghana could adopt a similar approach to catalyse investment in the housing sector.
Performance
The fund generated total revenue of GH¢50.97 million by the end of the financial year, against total expenditure of GH¢49.16 million.
Mr Hoetu attributed this performance to improved revenue mobilisation, disciplined expenditure management and the growing maturity of the Fund's investment portfolio.
Mr Hoetu announced that NHF, following a review of the National Mortgage Scheme with Republic Bank, was set to resume lending at an interest rate of 8.4 per cent, down from the previous rate of 13.5 per cent.
He said a person with a net income of GH¢2,500 would be eligible to access up to GH¢143,000 under the scheme, with a monthly repayment of GH¢1,231.95 over a maximum tenure of 20 years.
He attributed the reduction to the prudent management of the economy under the current government, as well as a blended financing arrangement between government, NHF and partner banks.
He said the fund had also reviewed its rent-to-own scheme to offer more flexible payment terms.
Partnerships
Mr Hoetu said NHF had developed a five-year Corporate Strategic Plan (2026–2030) anchored on institutional excellence, sustainable housing finance, digital transformation, strategic partnerships and ESG integration.
He said the fund had signed an agreement with Shelter Afrique Development Bank for a rapid diagnostic assessment of Ghana's housing sector, which would inform a Country Housing and Urban Partnership Strategy.
The findings, he said, would be presented at a National Conference on Housing Finance in October.
Collaboration
The Deputy Minister of Works, Housing and Water Resources, Gizella Akushika Tetteh-Agbotui, commended NHF for its partnership with Shelter Afrique Development Bank and for organising the National Conference.
She cited the Greenville District Housing Programme, a collaboration between her Ministry and NHF to deliver affordable housing across eight selected districts, adding that decent housing should not be concentrated only in the major urban areas.
She also urged the fund to raise floor levels in its housing designs in response to recent flooding in communities that had not previously experienced it, and to widen its range of mortgage products to serve informal sector and private individuals, not only salaried employees.
For her part, the Director of Legal Services at the Ministry of Finance, Evelyn Amerley Nuno-Amarteifio, who read a speech on behalf of the Minister of Finance, said NHF must move from individual interventions to scale by developing financing structures capable of attracting pension funds, insurance companies, banks and international development finance into the housing sector.
