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).
The money, he said, would be placed fund and used on a revolving basis to finance housing projects and expand access to affordable housing.
President Mahama 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,” he said.
President Mahama said Ghana’s housing challenge was not only about the number of houses available, but also the ability of households to secure financing on terms they could afford.
He cited the difficulties faced by traders, artisans, farmers, transport operators and other self-employed workers who might have regular incomes but lack payslips or conventional banking records required by mortgage providers.
He urged financial institutions to develop alternative ways of assessing repayment capacity, including savings histories and verifiable business cash flows.
According to figures presented at the conference, Ghana has a housing deficit of 1.8 million units.
The President said the scale of the deficit required an increase in the number of people becoming homeowners each year.
The NHF’s Mortgage Scheme currently offers cedi-denominated mortgages at 8.4 per cent, down from 13.5 per cent, while developer financing under the scheme stands 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.
President Mahama said the next phase must extend such financing to a wider section of the population while keeping the houses within the financial means of intended beneficiaries.
Rent financing
The President also announced a new NHF programme, Easy Rent, to address the burden of large upfront rent payments.
Under the programme, the NHF will pay the rent advance for a worker, who will then repay the amount monthly.
President Mahama said the initiative was intended to ease the pressure substantial rent advances placed on household finances.
He recalled that when he left his father’s house to begin life with his wife, Lordina, the additional fee paid to a housing agent almost depleted their finances.
He said many young Ghanaians faced similar difficulties, with rent advances potentially consuming savings which could otherwise be used for children’s education or family businesses.
The proposed Easy Rent programme comes alongside the government’s existing National Rental Assistance Scheme, which provides rent advances to qualifying tenants who repay through monthly instalments.
