President John Dramani Mahama has announced plans to introduce an Easy Rent programme under the National Housing Fund to help workers who struggle to raise large sums required as rent advances.
Under the proposed arrangement, the National Housing Fund will settle the rent advance for eligible workers, who will then repay the amount in monthly instalments.
President Mahama announced the initiative on Wednesday when he opened the National Conference on Housing Finance in Accra.
“We are also going to introduce what we call Easy Rent. The National Housing Fund will pay your rent advance and then you pay monthly,” President Mahama stated.
He said the programme would form part of a broader effort to provide different housing finance options that reflect the varying financial circumstances of Ghanaians.
According to the President, housing policy must go beyond traditional mortgage arrangements and also provide practical rental solutions for people who may not yet be in a position to own homes.
He said other financing options being considered included rent-to-own schemes, support for individuals who want to build incrementally and social housing for vulnerable groups.
President Mahama also proposed a rent-to-own model for unfinished houses across the country.
Under the proposal, government could identify uncompleted houses, engage professionals to assess the cost of completing them and examine the financial circumstances of the owners.
He said financial support could then be provided to complete such buildings, allowing families currently paying rent elsewhere to move into the finished homes while working towards eventual ownership.
The President said the various proposals were intended to address the financial barriers that prevent many Ghanaians from securing decent accommodation.
He also disclosed that he had directed the Minister of Finance to allocate GH¢1 billion in the 2027 Budget as government’s contribution to a proposed GH¢3 billion revolving fund for the National Housing Fund.
The amount, he said, would be placed in the Fund and made available for housing finance on a revolving basis.
President Mahama stressed that the broader housing strategy was intended to expand access to decent and affordable accommodation while reducing the financial pressure associated with both renting and home ownership.
He therefore called on financial institutions, developers, employers, organised labour and other stakeholders to collaborate with government in developing housing finance products that can make decent housing more accessible to Ghanaian families.
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