Accra: Government has called for greater mobilisation of private and long-term capital to bridge Ghana's housing gap and expand access to affordable homes. It said public expenditure and government-built housing alone could not meet the country's growing demand for housing.
According to Ghana News Agency, Mr Thomas Ampem Nyarko, Deputy Minister for Finance, made the call at the Fourth Annual General Meeting of the National Homeownership Fund (NHF), in a speech read on his behalf by Madam Amerley Nunoo Amarteifio, Director of Legal at the Ministry of Finance. He said innovative financing, credible institutions, long-term capital, appropriate risk-sharing mechanisms, and strong public-private partnerships were needed to make homeownership more accessible to Ghanaians.
Mr Nyarko stated that housing was not merely a social obligation but an important component of Ghana's economic transformation, creating jobs, stimulating demand for local materials, expanding financial services, and generating economic activity across several sectors. He emphasized that the government could not close the housing gap through public housing alone, and conventional commercial finance could not independently address the affordability challenges facing many households.
Mr Nyarko urged the NHF to position itself as a catalyst for a functional homeownership ecosystem by mobilising capital beyond its balance sheet, deepening the mortgage market, supporting responsible home financing, and expanding access to affordable housing. He suggested that the Fund should develop financing structures capable of attracting pension funds, insurance companies, banks, institutional investors, and international development finance into Ghana's housing market.
The Deputy Minister also encouraged greater use of capital market instruments to transform housing from a largely fragmented asset class into an investable sector, while ensuring that affordability, prudence, and financial stability were not compromised. He commended the NHF for convening a National Conference on Housing Finance scheduled for October 2026, which would provide an opportunity to discuss strategic partnerships for sustainable housing finance.
Mr Nyarko assured that the government would continue to provide policy support to strengthen the housing finance ecosystem and unlock greater private sector participation. Mr Prosper Hoetu, Chief Executive Officer of the NHF, remarked that increased investment in housing would stimulate economic growth and create employment opportunities across the construction and related industries. He added that the Fund's five-year Corporate Strategic Plan for 2026-2030 would position the NHF as a leading housing finance institution through sustainable housing finance, capital mobilisation, digital transformation, strategic partnerships, and environmental, social, and governance integration.