Business News of Friday, 6 March 2026

Source: classfmonline.com

New mortgage plan could expand home ownership in Ghana - Nana Oye Bampoe

Nana Oye Bampoe Addo is the Deputy Chief of Staff Nana Oye Bampoe Addo is the Deputy Chief of Staff

Access to affordable housing could soon become a reality for many Ghanaians, as the government announces renewed efforts to complete stalled and abandoned housing projects across the country.

Speaking at the National Home Ownership Fair in Accra on March 4, 2026, Ghana’s Deputy Chief of Staff, Nana Oye Bampoe Addo, reiterated the resolve to revive and complete abandoned housing projects nationwide.

The Government Official noted that, “Government has pledged to complete all ongoing housing initiatives, beginning with the long-delayed projects such as the Saglemi affordable housing project.

This commitment signals a determination to finish what was started and to unlock stalled investments in the housing sector.”

Meanwhile, the Chief Executive Officer of the National Homeownership Fund, the state agency mandated to expand access to affordable mortgage financing disclosed plans to introduce single-digit mortgage rates under the National Mortgage Scheme.

According to the Fund, declining interest rates and improved macroeconomic conditions have created room to make mortgage financing more affordable, particularly for low and middle-income earners.

Ghana continues to grapple with a housing deficit estimated at about 2 million units.

Despite the growing demand, several affordable housing projects have remained uncompleted, raising concerns about successive governments’ commitment to addressing the shortfall.

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