Nurses, teachers, doctors to get 15-20 years cedi denominated mortgages for new low-cost houses - Mahama
President John Dramani Mahama said a new "low-cost housing scheme" for public sector workers is being implemented in partnership with Organised Labour and financial institutions. President Mahama said this will enable nurses, teachers, doctors, and civil servants to acquire government-built low-cost houses and pay over a period of up to 20 years in Ghana cedis. He said an innovative housing financing network is anchored on a GH¢3 billion Revolving Fund in partnership with the government, Organised Labour and the private sector.
President Mahama said the government, organised labour, social security, the National Insurance Trust and the Republic Bank of Ghana are going to create a GH¢3 billion Revolving Fund. He said companies like State Housing Company (SHC) and Tema Development Company (TDC) will be given credit from this fund to build housing, and then the banks will give mortgages for the workers to buy the houses and pay over a 15-20 year period. He also announced that these houses are going to be indexed in cedis, not dollars. New social housing initiatives driven at the district level are also being rolled out. He said Ghana's housing deficit stood at more than 1.5 million units.
President Mahama cut the sod for the construction of some affordable houses at Dedesua in the Bosomtwe District of the Ashanti Region on Saturday, May 9, 2026. The project, dubbed "Dedesua Green City project," is being developed on 200 acres donated by the Asantehene, Otumfuo Osei Tutu II, and is expected to provide more than 1,000 housing units. President Mahama said he looks forward to coming back next year to commission phase one of this Green City project.
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President Mahama has announced a new low-cost housing scheme for public sector workers in partnership with Organised Labour and financial institutions. The initiative aims to address the challenges of home ownership - but what innovative solutions are being introduced?
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