Mahama announces GH¢1bn allocation for revolving National Housing Fund

President John Mahama has allocated one billion cedis for a revolving National Housing Fund in the 2027 Budget, as announced at the opening of the National Conference on Housing Finance in Accra. The conference, organized by the National Housing Fund Limited, aimed to commemorate World Habitat Day and focused on "Adequate Housing for All, Innovative Financing for Ghana’s Housing Future."

The allocation will be part of the government's contribution to the three-billion cedis fund, with pension funds, insurers, development finance institutions, and diaspora investors also having the potential to provide capital through suitable structures. The President emphasized that housing development should incorporate integrated communities with essential services like roads, water, drainage, sanitation, schools, healthcare, and social facilities.

He also called for housing to be included in the planning of industrial enclaves to reduce commuting costs, enhance productivity, and improve overall living conditions. The transition of the National Home Ownership Fund Limited to the National Housing Fund Limited aims to broaden the institution's mandate, focusing on housing delivery and expanding affordable housing options.