Mahama Allocates GH¢1 Billion to National Housing Fund in 2027 Budget
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President John Dramani Mahama has directed the Finance Minister to allocate GH¢1 billion in the 2027 Budget as government’s contribution to a GH¢3 billion National Housing Fund.
President John Dramani Mahama has directed the Minister of Finance to allocate GH¢1 billion in the 2027 Budget as the government’s contribution to a GH¢3 billion National Housing Fund (NHF), his office said, announcing the move at the maiden National Conference on Housing Finance in Accra on Wednesday, October 7, 2026.
Mahama said the money would be placed in the fund and used on a revolving basis to finance housing projects and expand access to affordable housing.
He said Ghana’s housing challenge was not only about the number of houses available but also the ability of households to secure financing on affordable terms. He cited the difficulties faced by traders, artisans, farmers, transport operators and other self-employed workers who may have regular incomes but lack payslips or conventional banking records required by mortgage providers, and urged financial institutions to develop alternative ways of assessing repayment capacity, including savings histories and verifiable business cash flows.
Figures presented at the conference put Ghana’s housing deficit at 1.8 million units. The NHF’s mortgage scheme currently offers cedi-denominated mortgages at 8.4 per cent, down from 13.5 per cent, while developer financing under the scheme stands at 10.4 per cent. Mahama said more than 1,000 people have so far been supported to own homes through interventions involving the Fund and partner financial institutions.
The President also announced a new NHF programme, Easy Rent, to address the burden of large upfront rent payments. Under the programme, the NHF will pay the rent advance for a worker, who will then repay the amount monthly.