Housing Finance in Ghana

Overview

This profile is also available in French here.

To download a pdf version of the full 2021 Ghana country profile, click here.

Affordable housing in Ghana continues to be an urgent socio-economic concern despite the growing economy, as incomes fail to match house price increases. The housing deficit is intensifying especially in urban areas. In 2015 it was estimated that population growth would likely add two million extra-urban households in Ghana by 2020. The government put the housing shortage before the pandemic at more than 2 million units, and approximately 60% of the working population need help to access housing, while 35% will not be in a position to access housing even with the intended government subsidy.

In 2020, Ghana’s economy grew by 0.4%, due to the impact of COVID-19. Following government interventions implemented since March 2020 to mitigate the effect of the pandemic, Ghana’s GDP recorded growth of 3.1% in the first quarter of 2021 (excluding oil 4.6%). In the attempt to tackle
the crisis, the government has initiated Ghana CARES “Obaatan Pa” program and is expected to provide long-term and sustainable funding for businesses in the country.

In the past year, the government has proposed several affordable housing interventions, including resuscitating initiatives that were stalled at various stages of development in Tamale, Accra (Borteyman), Tema (Kpone), Kumasi (Asokore mampong), Koforidua, Wa, Prampram (Sagelmi) and Sagnarigu. Of this, it is expected that by 2022 the stalled housing developments in Borteyman, Kpone, and Saglemi would have been completed in addition to 150 new housing units to be provided for public officials.

Find out more information on the housing finance sector of Ghana, including key stakeholders, important policies and housing affordability:


Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2021 edition, which has up-to-date profiles for 55 African countries.

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