The Deputy Minister of Finance, Thomas Nyarko Ampem, has stressed that achieving affordable housing in Ghana will depend on sustained macroeconomic stability, long-term financing solutions and structural reforms aimed at reducing the cost of home ownership.
He said the country’s housing deficit, estimated at more than 1.8 million units as of 2025, remained a significant national challenge driven by rapid urbanisation, population growth and limited access to housing finance.
Mr. Ampem made the remarks at the opening of the National Home Ownership Fair 2026 in Accra on Thursday. The event was organised under the theme “Building Ghana, One Home at a Time.”
According to him, the housing deficit was not only a social issue but also an economic concern that affected national development.
He explained that poor living conditions, high rent levels and long commuting distances placed additional burdens on households and could undermine productivity, health outcomes and educational attainment.
Mr. Ampem said addressing the housing challenge required a coordinated effort to stabilise the economy, attract long-term investment and reform structural bottlenecks within the housing sector.
Quoting data from the Ghana Statistical Service, the Deputy Minister noted that the construction sector recorded a 5.5 percent year-on-year growth in the third quarter of 2025.
He said the growth highlighted the sector’s potential to generate employment opportunities and stimulate economic activity when given adequate policy and financial support.
Mr. Ampem explained that the Ministry of Finance (Ghana) is focusing on three strategic priorities to help close the housing gap.
The first, he said, was maintaining macroeconomic stability to reduce the cost of capital and make borrowing more affordable for developers and prospective homeowners.
The second priority involved mobilising long-term patient capital to support housing finance, particularly through partnerships with institutional investors.
The third priority focused on implementing structural reforms to reduce non-construction costs, including challenges related to land acquisition, permitting processes and the provision of basic infrastructure.
Mr. Ampem noted that government’s fiscal strategy remained anchored on discipline, credibility and transparency to sustain low inflation, stabilise the currency and rebuild investor confidence in the economy.
He said these efforts were essential to creating a favourable investment climate for housing development and expanding access to affordable homes for Ghanaians.
The Deputy Minister added that the Ministry was strengthening collaboration with pension funds, banks and development finance institutions to mobilise long-term financing for the housing sector.
He also indicated that ongoing reforms aimed at improving land title security and streamlining regulatory procedures would help accelerate housing delivery and reduce overall development costs.
Mr. Ampem expressed optimism that sustained policy reforms and stronger public-private partnerships would help bridge the housing deficit while promoting inclusive urban development across the country.
