By Lawrence Odoom
President John Dramani Mahama has unveiled an ambitious low-cost housing initiative designed to broaden access to affordable, dignified accommodation for public sector workers across Ghana.
The President announced that the scheme will be executed in partnership with organised labour and leading financial institutions to ensure that nurses, teachers, doctors, and other civil servants can secure decent housing under favourable and sustainable terms.
He made the declaration on Saturday, May 9, during the sod-cutting ceremony for the over 1,000-unit Green City Housing Project at Dedesua in the Bosomtwe District of the Ashanti Region.
According to President Mahama, the initiative rests on an innovative housing finance framework anchored by the establishment of a GH¢3 billion revolving fund. The fund will be created through a collaborative partnership involving government, organised labour, the private sector, and key financial institutions.
Under the arrangement, the Social Security and National Insurance Trust and Republic Bank Ghana will collaborate with the government and labour unions to establish the facility.
The fund will then be deployed to extend credit to state housing developers such as the State Housing Company and the Tema Development Corporation for the nationwide construction of housing units.
“Companies like State Housing Company (SHC), Tema Development Corporation (TDC), and all the housing companies will be given credit from this fund to build houses. And then the banks will give mortgages for the workers to buy the houses and pay over a 15 to 20-year period,” he said.
The President explained that the model is designed to make home ownership more accessible and sustainable for public sector workers, while simultaneously fortifying Ghana’s broader housing delivery system through structured, long-term financing.