Mahama briefs diaspora Ghanaians on $1 billion housing mortgage scheme

President John Dramani Mahama addressed the Ghanaians residing in the Caribbean during the Commonwealth Heads of Government Meeting (CHOGM) in St. John’s, Antigua and Barbuda. He introduced a $1 billion mortgage initiative aimed at helping citizens become homeowners both in Ghana and abroad. The scheme allows beneficiaries to pay off their mortgage over a period of 15 to 20 years.

Mahama emphasized that housing had become a priority for his administration and welcomed the diaspora's engagement in the matter. The mortgage scheme provides a formal route for Ghanaians living abroad to invest in property in Ghana, thereby avoiding the risks linked to informal arrangements. President Mahama stated that the scheme would enable Ghanaians abroad to become homeowners while sending money through a legal route.

He assured the diaspora that the situation back home was stable and highlighted that those in the diaspora often had a more accurate understanding of events in Ghana compared to officials abroad. This outreach is part of Mahama's broader initiatives towards the diaspora during the CHOGM Summit, where he discussed trade, investment, and cooperation with other world leaders.