Ghana is stepping up efforts to reduce its housing deficit.
President John Dramani Mahama has announced a contribution of nearly $85 million, expected to be included in the 2027 budget, to support the National Housing Revolving Fund, which has a total allocation of 3 billion Ghanaian cedis.
The announcement was made in Accra during the opening of the first National Housing Finance Conference. Through this mechanism, the authorities aim to boost affordable housing construction and improve households’ access to mortgage financing.
“Every Ghanaian family deserves access to decent and affordable housing,” the president declared, emphasizing the need to make housing more accessible to all segments of the population.
The initiative comes amid a persistent housing crisis. According to the Ghana Housing Profile 2024, published by the Ministry of Works, Housing and Water Resources, the country faces an estimated housing deficit of 1.8 million units. The report also indicates that more than 30% of the existing housing stock is considered inadequate.
The pressure is particularly severe in urban areas. In the Greater Accra Region, housing needs remain substantial, with an estimated shortage of 925,335 rooms, according to figures cited in the report.
Beyond the shortage of available housing, limited access to financing remains a major obstacle to homeownership. According to Ghana Statistical Service data cited by the government, only around 5% of Ghanaians can afford to purchase a home without assistance, while nearly 60% would require some form of government-supported financing.
Alongside the housing fund, the government also plans to support tenants through the “Easy Rent” programme. The initiative is designed to help workers cover upfront rent payments, allowing them to repay the amounts in monthly instalments.
Through these measures, Ghanaian authorities aim to address two major challenges simultaneously: increasing the supply of affordable housing and easing the financial constraints that prevent many households from accessing decent accommodation.
