Mahama directs Finance Minister to allocate GH¢1bn for Housing Fund in 2027 Budget

President John Dramani Mahama has instructed the Minister of Finance to allocate one billion Ghana cedis in the upcoming 2027 budget towards the National Housing Fund (NHF). This allocation will serve as the government's contribution to the GH¢3 billion revolving fund, aimed at financing housing projects and improving access to affordable housing.

At the inaugural National Conference on Housing Finance held in Accra on October 7, 2026, Mahama emphasized that Ghana's housing crisis extends beyond the mere availability of housing units. He highlighted the struggles faced by self-employed individuals, who often lack the necessary documentation for mortgage approval. Financial institutions were urged to explore alternative methods to assess borrowers' repayment capacity, such as examining savings histories and business cash flows.

With a national housing deficit of 1.8 million units, the President stressed the need for an increased annual homeownership rate. Currently, the NHF's Mortgage Scheme offers cedi-denominated mortgages at a rate of 8.4%, down from 13.5%, while developer financing is available at 10.4%. Over 1,000 individuals have already been assisted to obtain homes through NHF interventions and partnerships with financial institutions.

President Mahama announced the launch of a new initiative called Easy Rent, which aims to alleviate the financial burden of large upfront rent payments. Under Easy Rent, the NHF will cover rent advances for workers, who will subsequently repay the amount through monthly instalments. This programme complements the National Rental Assistance Scheme, which currently offers rent advances to qualifying tenants repaid via monthly instalments.