Deputy Minister for Finance, Thomas Nyarko-Ampem, has challenged the newly inaugurated Governing Board of the National Homeownership Fund Ltd. (NHF) to take bold, practical steps to make affordable housing genuinely attainable for ordinary citizens.
Speaking at the inauguration ceremony, Mr. Nyarko-Ampem stressed that access to decent, affordable housing remains one of the country’s most persistent socio-economic challenges, particularly for low- and middle-income earners.
He called on the board to develop innovative financing models and targeted programmes that can break the barriers preventing most Ghanaians from owning homes.
The challenge is stark. NHF Chief Executive Officer Prosper Hoetu revealed that only 5% of Ghanaians have the means to purchase their own homes outright, while a staggering 60% need substantial financial support to secure basic shelter.
He pledged that the Fund will work to close this gap through expanded financing options and partnerships that can make homeownership realistic for the majority.
In a related development, Mr. Nyarko-Ampem reaffirmed the government’s commitment to safeguarding Ghana’s banking sector, emphasising that the Mahama administration is prioritising investment to rescue banks rather than spending over GH₵30 billion to liquidate them.
He delivered the remarks while inaugurating the new Governing Board of Ghana Amalgamated Trust PLC (GAT), expressing confidence in the board’s collective expertise to deliver sustainable growth.
Board Chairperson Dr. Kwabena Donkor vowed to work towards a robust, profitable banking system capable of delivering dividends and supporting economic stability.
