The government is set to release an additional GH¢200 million to the National Home Ownership Fund (NHF) before the end of this year, according to Finance Minister Dr. Mohammed Amin Adam.
This funding will bolster the completion of Phase 3 of the NHF housing project and support the rollout of district housing projects across the country, as the government works to address Ghana’s housing deficit.
It follows an earlier release of GH¢94 million for ongoing projects which brings the total releases in recent time to about GH¢300 million.
Dr. Adam made the announcement during a joint working visit with Works and Housing Minister Kojo Oppong Nkrumah to the NHF Phase 3 construction site.
During the visit, the ministers observed the progress of the ongoing project, which has so far delivered 204 and 201 housing units in Phases 1 and 2, respectively.
Phase 3, currently under construction, will add 129 new units.
The NHF project is part of the government’s broader effort to address Ghana’s housing deficit, which stands at an estimated 1.8 million units.
Dr. Adam commended the NHF for its professionalism, efficiency, and quality in housing delivery, emphasizing the importance of timely project completion to keep housing affordable for Ghanaians.
“This is a public institution, and you have demonstrated high levels of professionalism, quality, and efficiency. The kind of housing you are delivering to the people of Ghana is the standard we need to set for housing delivery in the country,” Dr. Adam said.
He revealed that the recent progress aligns with President Akufo-Addo’s directive to prioritize growth-impact sectors, with housing being a key focus.
The Finance Minister praised the NHF’s ability to put resources to good use, noting that delayed projects tend to become more costly, and timely delivery is essential for affordability.
Dr. Adam reaffirmed the government’s commitment to affordable housing, highlighting the importance of continued support to accelerate the development of housing projects nationwide.
He also acknowledged the hard work of the construction teams, whose dedication ensures the timely and high-quality delivery of housing units.
Works and Housing Minister Kojo Oppong Nkrumah echoed these sentiments, expressing satisfaction with the NHF’s progress.
He praised the collaboration between the Finance and Housing Ministries, which has been instrumental in advancing the government’s affordable housing agenda.
“When you give us money as colleague Ministers to work, we have to account for what we are doing with the taxpayers’ money. Today, you are here to see for yourself the progress being made since the release of about GH¢94 million to the NHF,” Oppong Nkrumah said.
NHF General Manager, Philip Delali Zumanu, announced that Phase 3 of the NHF project is on track for completion by November 2024, reflecting the government’s focus on efficient and timely delivery of housing projects to meet the needs of Ghanaians.
