President John Dramani Mahama has announced a major affordable housing initiative aimed at providing decent and accessible accommodation for teachers, nurses, doctors, and other public sector workers across the country.

The initiative, which will be undertaken in partnership with organised labour and financial institutions, seeks to ease the housing burden on civil servants through flexible and long-term payment arrangements.

President Mahama made the announcement on Saturday, May 9, during the sod-cutting ceremony for the construction of the over 1,000-unit Green City Housing Project at Dedesua in the Bosomtwe District of the Ashanti Region.

According to the President, the government is establishing a GH¢3 billion revolving housing fund to support the programme. The fund will be created through a collaboration between the government, organised labour, private sector players, and financial institutions.

As part of the arrangement, the Social Security and National Insurance Trust (SSNIT) and Republic Bank Ghana will partner with government and labour unions to operationalise the facility.

President Mahama explained that the fund will provide financial support to state-owned housing developers, including the State Housing Company and Tema Development Corporation, to construct affordable housing units across the country.

He noted that banks would subsequently offer mortgage packages to public sector workers, allowing them to purchase the homes and repay over a period of 15 to 20 years.

“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,” the President stated.

He added that the financing model is intended to make home ownership more attainable for Ghanaian workers while strengthening the country’s housing delivery system through sustainable and structured funding mechanisms.