President John Dramani Mahama has unveiled a new nationwide housing programme aimed at making home ownership more realistic for public sector employees through affordable, long-term repayment plans denominated in Ghana cedis.
The initiative, developed together with Organised Labour and financial sector partners, is expected to allow workers such as teachers, nurses, doctors, and other government staff to purchase state-built homes and repay over a 15 to 20-year period under more stable local currency conditions.
At the centre of the plan is a GH¢3 billion revolving housing fund, jointly supported by government, labour unions, the Social Security and National Insurance Trust (SSNIT), and Republic Bank of Ghana.
President Mahama explained that the fund will serve as a financing base for public housing developers, including the State Housing Company and the Tema Development Company, enabling them to secure capital to construct affordable housing units. Commercial banks will then provide mortgages to qualified workers to acquire the homes and repay gradually over time.
He emphasized that all mortgage structures under the scheme will be based in Ghana cedis, not foreign currencies, a shift he said will protect buyers from exchange rate fluctuations that have historically increased housing costs.
The announcement was made during the official sod-cutting ceremony for the Dedesua Green City project in the Bosomtwe District of the Ashanti Region on May 9, 2026.
The development is being constructed on a 200-acre parcel of land donated by the Asantehene, Otumfuo Osei Tutu II, and is projected to deliver over 1,000 housing units in its first phase.
President Mahama further revealed that government will fully cover the cost of essential infrastructure such as internal roads, drainage systems, and gutters under the Big Push infrastructure agenda, a move aimed at reducing overall housing prices for beneficiaries.
He also encouraged Ghanaians living abroad to take advantage of the project, assuring them that the land is legally secure and free from disputes.
He stated that buyers will receive fully completed homes upon payment, without concerns about legal challenges or demolition risks.
Looking at the broader national context, the President noted that Ghana’s housing shortfall has exceeded 1.5 million units, driven by rapid urban growth, rising construction expenses, and limited access to affordable mortgage systems.
He added that urban populations continue to expand, with projections suggesting that nearly 70 percent of Ghanaians will be living in cities by 2050, further increasing pressure on housing demand.
On rent control enforcement, he acknowledged persistent challenges in compliance with the rule limiting advance rent payments to six months, noting that many disputes go unreported by both landlords and tenants.
President Mahama expressed confidence that the first phase of the Dedesua Green City project would be completed within one year, describing it as a key step toward reshaping affordable housing delivery in Ghana.
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