President John Dramani Mahama on Wednesday outlined housing expansion and investment reforms as central to his administration’s strategy to drive growth, attract foreign capital and create jobs.
Speaking at a media engagement in Accra, Mahama said housing remained the biggest expenditure for many Ghanaians and that government was working on a financing mechanism to ease the pressure. Under the plan, organized labour associations are expected to commit GH₵1 billion from their funds, which government will match with GH₵1 billion, while Republic Bank has also pledged GH₵1 billion.
The president said the GH₵3 billion revolving fund will support large-scale housing projects across districts. Workers would be able to acquire homes through long-term deductions from their salaries, with repayments feeding back into the fund to sustain construction. “This will expand housing coverage, reduce rent pressures, and give many Ghanaians the opportunity to own homes before retirement,” Mahama said.
Turning to investment rules, Mahama confirmed that government is reviewing the Ghana Investment Promotion Centre (GIPC) Act to remove the current $1 million minimum capital requirement for foreign investors. He argued the threshold was shutting out viable investors who could create jobs with smaller amounts of capital. “When someone with $500,000 can open a manufacturing plant but is excluded because of the law, we are only denying ourselves jobs,” he noted.
Mahama also stressed that Ghana must align its trade and investment laws with the African Continental Free Trade Area (AfCFTA) and the ECOWAS Trade Liberalization Scheme, which require member states to ease restrictions on market access. Parliament, he said, will deliberate on issues such as market protection in the retail sector, balancing the need for competition with the imperative to safeguard opportunities for Ghanaians.
On Ghana-US relations, Mahama acknowledged recent strains, including tariff hikes, visa restrictions, and the U.S. request for Ghana to accept deported third-country nationals. He said while these measures signaled a “tightening situation,” overall ties remained constructive, with cooperation continuing under regional free movement protocols.
