President John Dramani Mahama has announced a major low-cost housing scheme aimed at helping teachers, nurses and other civil servants across the country access affordable and decent accommodation.
The President said the initiative is being implemented in partnership with organised labour and financial institutions to make home ownership easier for public sector workers under favourable conditions.
He made the announcement on Saturday, May 9, during the sod-cutting ceremony for the construction of the over 1,000-unit Green City Housing Project at Dedesua in the Bosomtwe District of the Ashanti Region.
According to him, the scheme will be supported by a GH¢3 billion revolving fund to finance housing delivery.
President Mahama explained that the fund will be created through a partnership involving government, organised labour, the private sector and major financial institutions.
Under the arrangement, the Social Security and National Insurance Trust and Republic Bank Ghana will collaborate with government and labour unions to establish the facility.
The fund will then provide credit to state housing developers such as the State Housing Company and the Tema Development Corporation to build housing units across the country.
“Companies like State Housing Company (SHC), Tema Development Corporation (TDC), and all the housing companies will be given credit from this fund to build houses. And then the banks will give mortgages for the workers to buy the houses and pay over a 15 to 20-year period,” he said.
The President said the model is designed to make home ownership more accessible and sustainable for public sector workers while also improving Ghana’s broader housing delivery system.
The announcement is expected to bring hope to many workers in the education and health sectors, where access to affordable housing remains a major concern.
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