President John Dramani Mahama has announced a major low-cost housing initiative aimed at expanding access to affordable and dignified homes for teachers, nurses, doctors, and other civil servants. The programme will be supported by a GH¢3 billion revolving housing fund, combined with long-term mortgage arrangements to ease the path to home ownership.
The announcement was made on Saturday, May 9, during the sod-cutting ceremony for the construction of the over 1,000-unit Green City Housing Project at Dedesua in the Bosomtwe District of the Ashanti Region.
At the core of the initiative is a collaborative financing model involving the government, organised labour, private sector partners, and financial institutions. Under the arrangement, the Social Security and National Insurance Trust (Social Security and National Insurance Trust) and Republic Bank Ghana will work alongside the government and labour unions to establish the GH¢3 billion revolving facility.
The fund will provide credit to state-owned housing developers, including the State Housing Company and the Tema Development Corporation, enabling them to construct housing units across the country.
According to the President, once the houses are completed, banks will offer mortgage financing to eligible workers, allowing them to purchase the homes and repay the loans over a period of 15 to 20 years.
He explained that the model is designed to make home ownership more accessible and sustainable for public sector workers, while strengthening Ghana’s housing delivery system through structured and long-term financing solutions.
In addition to the housing initiative, President Mahama reiterated the need for strict enforcement of Ghana’s rent advance regulations. He stressed that the legal limit of six months’ rent advance must be respected to promote fairness and protect tenants in the rental market.
The President acknowledged ongoing challenges in enforcing the Rent Control Act, noting that compliance has remained weak partly because both landlords and tenants often fail to report violations.
