Ghana secures $35.5m housing financing as it moves to assess challenges with the sector

The government of Ghana has announced that Ghanaian financial institutions and private developers have accessed $35.5 million through the country’s partnership with the Shelter Afrique Development Bank to support housing and mortgage financing, as it launches a comprehensive assessment to address the country’s persistent housing deficit. The assessment, known as the Ghana VIRAL Model Assessment, is expected to identify the policy, institutional, regulatory, and financing barriers that are slowing the delivery of affordable housing and to provide a roadmap for attracting greater investment in the sector. Speaking at the launch, the Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, said the initiative, being implemented through the National Home Ownership Fund in partnership with Shelter Afrique Development Bank, would generate evidence-based recommendations to strengthen Ghana’s housing ecosystem.

According to the minister, the assessment will examine five key pillars of the housing sector: institutions, regulations, market actors, financing, and local housing initiatives. He explained that the findings would help improve coordination among housing stakeholders, strengthen the country’s housing finance architecture, and create a more enabling environment for private-sector investment. The government believes these reforms will ultimately increase the supply of affordable housing while expanding access to mortgage financing for ordinary Ghanaians.

The assessment also builds on Ghana’s existing partnership with Shelter Afrique Development Bank, which the government says has already delivered tangible results through the mobilisation of $35.5 million in financing for local financial institutions and private developers. Officials say the government is seeking to deepen that partnership by settling outstanding capital subscription obligations and arrears owed to the development bank, a move expected to unlock additional financing opportunities and technical support. Ghana has also secured re-election to Shelter Afrique Development Bank’s Board of Directors for another three-year term beginning in July 2027, a development the government says reinforces the country’s growing role within the institution.

The findings from the assessment are expected to inform discussions at the National Conference on Housing Finance later this year, where polic…