John Mahama allocates GH₵1bn for National Housing Fund in 2027 Budget

President John Dramani Mahama has directed the Minister of Finance to allocate GH₵1 billion in the 2027 Budget to establish a revolving National Housing Fund (NHF). Speaking at the 2026 National Conference on Housing Finance in Accra, the President explained that this initial government contribution is intended to anchor a broader GH₵3 billion fund designed to tackle Ghana’s housing deficit, currently estimated at 1.8 million units. The fund will serve as a sustainable pool of capital, drawing additional contributions from pension funds and private investors to ensure long-term viability.

The NHF aims to expand access to affordable housing through innovative financing methods such as mortgage refinancing and rent-to-own schemes. President Mahama emphasized that the intervention is necessary to make decent housing a reality for ordinary Ghanaians. To further alleviate the financial burden on the workforce, the President also introduced the "Easy Rent" programme, an initiative specifically designed to reduce the necessity for large upfront rent advance payments that frequently hinder young professionals and workers.

Beyond new constructions, the President proposed a specific financing scheme to help owners of unfinished buildings complete their properties. Citing data from the 2021 Census showing over one million unfinished structures across the country, he suggested that unlocking these dormant investments would allow families to move into completed homes sooner. He urged financial institutions to move beyond traditional, collateral-heavy lending and develop alternative credit assessment methods that include self-employed individuals, ensuring a more inclusive housing market.

Minister Mahama Ayariga supported the initiative, noting that the housing challenge requires innovative financing solutions rather than just physical construction. He highlighted the government's commitment to creating integrated communities equipped with necessary infrastructure. The conference, themed "Adequate housing for all: Innovative financing for Ghana’s housing future," is expected to become an annual event to facilitate continuous engagement between the state, financial institutions, and developers to address the nation's housing needs.