President John Dramani Mahama has outlined an ambitious national housing agenda aimed at tackling Ghana’s growing housing deficit, improving affordability, and delivering sustainable communities across the country.
Speaking at the sod-cutting ceremony for the Green City Housing Project in the Ashanti Region, the President described the initiative as the beginning of “a new phase in Ghana’s long and evolving housing journey.”
“Decent housing is not a privilege for a few, but it is a right for all our people,” President Mahama declared.
The President praised Otumfuo Osei Tutu II for making the land available for the project, describing the gesture as another demonstration of the Asantehene’s dedication to the welfare and advancement of his people.
“The decision to site this project here is both symbolic and fitting, and we are very grateful for your generosity in making this land available,” he stated.
President Mahama warned that Ghana’s housing crisis has become increasingly severe, with the national housing deficit now estimated at more than 1.5 million units.
According to him, rapid urbanization, rising land values, escalating construction costs, and limited access to long-term financing have pushed home ownership beyond the reach of many citizens.
“Informal settlements continue to expand, slums continue to grow, and too many of our people are living in substandard conditions,” he said.
The President noted that more than half of Ghana’s population currently lives in urban areas, with projections indicating that nearly 70 percent could reside in cities by 2050 if urgent action is not taken.
He explained that the government’s Reset Agenda seeks to rethink the delivery of housing, infrastructure, and economic opportunities for Ghanaians through comprehensive reforms.
As part of the strategy, President Mahama announced the establishment of a three-billion revolving housing fund in partnership with government, organized labor, the Social Security and National Insurance Trust (SSNIT), and the banking sector.
The fund, he explained, will support housing agencies such as the State Housing Company (SHC) and Tema Development Corporation (TDC) to construct affordable homes, while banks provide long-term mortgage financing for workers. “The houses will be indexed in Cedis, not Dollars,” he emphasized.
The President explained that pricing mortgages in Ghana Cedis would protect homeowners from exchange rate instability and make repayment more manageable.
He also reiterated government’s commitment to completing the stalled Saglemi Affordable Housing Project and expanding district-level social housing initiatives nationwide.
President Mahama further addressed challenges within the rental housing market, acknowledging weak enforcement of laws limiting rent advances to six months. “Our goal is simple: fairness, protection and dignity for tenants,” he said.
The Green City Housing Project, situated on 200 acres of land provided by Otumfuo Osei Tutu II, is expected to deliver more than 1,000 housing units within an integrated and environmentally sustainable community.
According to the President, the project will not only provide housing but also create jobs, stimulate local businesses, and promote long-term economic growth in the Bosomtwe area.
“This is not just about shelter, it is about building a complete liveable community that is safe, affordable and dignified,” he stressed.
President Mahama encouraged Ghanaians in the diaspora to invest in the project, assuring them of secure land ownership and completed housing units free from litigation.
“Here you will get your house built for you complete, you collect your key, there is no litigation on the land, nobody will come and demolish your house,” he assured.
The President also announced that Otumfuo Osei Tutu II has agreed to release another parcel of land to the Tema Development Corporation for a similar housing project in Kumasi.
He commended the management and staff of the State Housing Company for reviving the nation’s leading public housing institution and pledged continued government support for affordable housing delivery nationwide.
President Mahama further revealed that government, through the “Big Push” infrastructure programme, will absorb the cost of roads, drains, and gutters within the estate to reduce the final cost of houses.
“Government will take up under the Big Push the cost of building all the roads, gutters and drains in this estate so that SHC can deliver the houses at a more affordable cost,” he announced.
He concluded by expressing optimism that the first phase of the Green City Housing Project would be ready for commissioning by next year.
“Step by step, community by community, we are building a future defined not by shortage but by shared prosperity,” President Mahama said.
Story: Patrick Asford Boadu
