President John Dramani Mahama has announced a new low-cost housing scheme aimed at helping public sector workers acquire affordable homes through long-term mortgage arrangements in cedis.

According to the President, the initiative, which is being implemented in partnership with Organised Labour and financial institutions, will allow workers such as nurses, teachers, doctors and civil servants to own government-built houses and pay over a period of up to 20 years.

Speaking at Dedesua in the Bosomtwe District of the Ashanti Region on Saturday, May 9, 2026, during the sod-cutting ceremony for the Dedesua Green City Project, President Mahama said the housing programme would be backed by a GH¢3 billion Revolving Fund.

“It will enable workers to acquire homes in cedis with manageable long-term repayments. Government, Organised Labour, the Social Security and National Insurance Trust, and Republic Bank Ghana are going to create a GH¢3 billion Revolving Fund,” he stated.

He explained that institutions such as the State Housing Company and Tema Development Company would receive financing from the fund to construct houses, while banks would provide mortgages for workers to purchase the properties.

“And so companies like the State Housing Company (SHC), Tema Development Company (TDC) and other housing agencies will be given credit from this fund to build housing, and then banks will give mortgages for workers to buy the houses and pay over a 15- to 20-year period,” he added.

President Mahama further disclosed that the houses would be priced in cedis instead of dollars to protect buyers from exchange rate fluctuations.

“These houses are going to be indexed in cedis, not dollars. This will solve the problem where, when the cedi was under pressure, it led to increasing mortgages for people,” he said.

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He also announced plans to expand housing projects beyond major cities to regional and district capitals as part of efforts to promote geographical equity.

“We are also pursuing geographical equity. Housing must not be confined to only major cities. Regional and district capitals must also benefit,” he stated.

The Dedesua Green City Project is being developed on 200 acres of land donated by the Asantehene, Otumfuo Osei Tutu II, and is expected to deliver more than 1,000 housing units.

President Mahama appealed to Ghanaians in the diaspora to invest in the project, assuring them that the land is free from litigation.

“There is no litigation on the land. Nobody will come and demolish your house,” he assured.

He further revealed that the Asantehene had agreed to release additional land to the Tema Development Company for another housing project in Kumasi.

Touching on infrastructure, he said government would absorb the cost of roads, drains and gutters within the estate under the Big Push infrastructure programme to reduce the overall cost of housing.

He also highlighted Ghana’s growing housing deficit, currently estimated at over 1.5 million units, noting that rapid urbanisation, rising construction costs and limited access to long-term mortgage financing continue to hinder home ownership.

The President added that weak enforcement of laws limiting rent advances to six months remains a major challenge.

“Both landlords and tenants are often unwilling to report breaches,” he noted.

President Mahama expressed optimism that the first phase of the Dedesua Green City Project would be completed within one year.

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