We’re exploring global financing instruments to bridge the housing gap in Ghana – Oppong Nkrumah

Minister of Works and Housing, Kojo Oppong Nkrumah has said that the government through the Ministry is moving away from traditional government-funded models for housing projects.

He says they are exploring global financing instruments to bridge the housing gap in Ghana.

“I am particularly excited about integrating Ghana’s National Home Ownership Fund with successful international models like Shelter Afrique’s insurance bonds initiative in Nigeria,” Mr Oppong Nkrumah said.

He said this after receiving the Managing Director of Shelter Afrique, Thierno Habib Hann who paid a courtesy call to the Ministry of Works and Housing as part of a working visit to Ghana on Tuesday July 16.

The visit of Hann followed Ghana’s election to the board of Shelter Afrique Development Bank a few weeks ago in Rwanda.

“We discussed the urgent need for sustainable financing mechanisms to address Ghana’s significant housing deficit.

Moving away from traditional government-funded models, we are exploring global financing instruments to bridge the housing gap. I am particularly excited about integrating Ghana’s National Home Ownership Fund with successful international models like Shelter Afrique’s insurance bonds initiative in Nigeria.

“Ghana’s recent achievement of securing a seat on Shelter Afrique’s Board of Directors will enhance our influence and attract resources to support affordable housing initiatives. We remain committed to leveraging this position to advocate for policies that benefit our housing sector. Together, we can close the 1.8 million housing unit deficit, stimulate job creation, and drive economic growth,” Mr Oppong Nkrumah, also the Member of Parliament for Ofoase Ayirebi, wrote on his X platform.