President John Dramani Mahama has broken ground for the Green City Housing Project at Dedesua in Kumasi, describing the initiative as a major step in Ghana’s evolving housing agenda aimed at delivering affordable and dignified housing for citizens.
Addressing dignitaries at the sod-cutting ceremony, President Mahama said Ghana’s growing housing deficit, currently estimated at more than 1.5 million units, requires urgent and decisive intervention to address rising urbanization, escalating construction costs, and limited access to affordable financing.
According to President Mahama, the initiative will be supported by an innovative housing finance structure, including the establishment of a GH¢3 billion revolving fund through a partnership involving government, organised labour, private sector players and financial institutions.
The President noted that government’s Reset Agenda is focused on rethinking the delivery of housing, infrastructure, and economic opportunity, stressing that decent housing must be treated as a right and not a privilege reserved for a few.
He outlined several housing interventions being pursued by government, including the completion of the Saglemi Affordable Housing Project, the rollout of district-level social housing initiatives, and a low-cost housing scheme for public sector workers in partnership with organized labour and financial institutions.
President Mahama also announced plans for a three-billion cedi revolving housing fund involving government, organized labour, SSNIT, and financial institutions to support long-term mortgage financing for workers. He emphasized that houses under the scheme would be indexed in cedis rather than dollars to shield homeowners from exchange rate fluctuations.
The President further highlighted government’s commitment to reforming the rental housing sector and improving affordability while ensuring fairness and dignity for tenants across the country.
Commending Otumfuo Osei Tutu II for making the 200-acre land available for the project, President Mahama said the Green City Housing Project would deliver more than 1,000 housing units within an integrated and environmentally sustainable community.
