Innovative financing solutions vital to affordable housing

Minister for Works and Housing, Kojo Oppong Nkrumah, has called for innovative financing solutions to drive affordable housing projects across the country.
His remarks came during discussions with Michal Mlynár, Deputy Executive Director of the United Nations Human Settlements Programme (UN-Habitat), held at the World Urban Forum in Cairo.

Addressing Ghana’s housing crisis
Leading a high-level Ghanaian delegation, Oppong Nkrumah highlighted the urgent need for affordable housing solutions in both urban and rural areas.
“Our commitment is to make affordable housing accessible to Ghanaians in all regions.
However, to succeed, we need to embrace sustainable financing models that leverage partnerships between the private and public sectors,” he stated.
The Minister acknowledged the strides Ghana has made in infrastructure and economic growth, but stressed that the housing sector remains underserved, with a shortage affecting millions.
He noted that sustainable financing not only addresses this deficit but aligns with global Sustainable Development Goals (SDGs), promoting resilient and eco-friendly communities.

A call for global partnerships and investment
Minister Oppong Nkrumah emphasized the importance of international collaboration, calling on development banks, private investors, and global organizations to invest in Ghana’s housing sector.
“We are actively seeking partnerships that bring both technical expertise and financing to support our housing agenda.
This is about more than just providing homes; it’s about creating vibrant communities while protecting the environment,” he said.
Mr. Mlynár voiced UN-Habitat’s support for Ghana’s efforts, commending the government’s proactive approach to urban development.
“The World Urban Forum is a hub for knowledge-sharing and partnerships, and we are encouraged by Ghana’s commitment to sustainable urban development,” Mlynár noted, adding that UN-Habitat is ready to offer guidance, technical support, and platforms for investment dialogue.

Tackling housing challenges with strategic initiatives
The Minister highlighted Ghana’s ongoing efforts to improve the housing sector through affordable housing projects and district-level programmes, while also acknowledging challenges like high construction costs and limited access to affordable credit. “Addressing these issues requires a comprehensive approach, with all stakeholders committed to a shared vision,” he remarked.
At the twelfth session of the World Urban Forum, Minister Oppong Nkrumah also reaffirmed Ghana’s dedication to social inclusion and resilience in housing, particularly for low-income and informal sector groups.
“Housing is a basic human right, and our duty as leaders is to ensure every Ghanaian has access to safe, affordable housing,” he said, underscoring the government’s commitment to making housing integral to national development goals.

Shaping the future of Ghanaian housing
The World Urban Forum provided a platform for Ghana to connect with global leaders and potential investors, opening discussions on sustainable solutions to Ghana’s housing shortage.
Oppong Nkrumah concluded with a pledge to “redefine the future of housing in Ghana, transforming it into a model for sustainable urban development in Africa.”