UN-Habitat Is Ready To Support Ghana With Funding For Affordable Housing

Ghana’s Minister of Works and Housing, Kojo Oppong Nkrumah, has called for an immediate focus on sustainable financing mechanisms to fund affordable housing projects nationwide in order to alleviate the country’s housing shortage and advance sustainable urban development.

On the fringes of the World Urban Forum in Cairo, he made the plea in a strategic meeting with Michal Mlynár, the Deputy Executive Director of the United Nations Human Settlements Programme (UN-Habitat).

Leading a high-level Ghanaian delegation that included representatives from his Ministry and the Ministry of Local Government and Rural Development, Minister Oppong Nkrumah emphasized the urgent need for creative and reliable financing solutions in Ghana that would speed up the delivery of housing and guarantee long-term urban sustainability.

“Our commitment is to make affordable housing accessible to Ghanaians in both urban and rural areas. However, to succeed, we need to embrace new, sustainable financing models that leverage both private and public sector partnerships,” he stated.

While Ghana has made progress in infrastructure and economic growth, the Minister stressed in his talks with Mr. Mlynár that the housing sector is still underserved, with millions of people affected by a persistent housing shortage.

He emphasized that in addition to addressing this shortfall, sustainable financing would support resilient, inclusive, and environmentally friendly urban communities, which would be in line with the global sustainable development goals (SDGs).

Using the occasion, Minister Oppong Nkrumah urged private investors, development banks, and international organizations to view Ghana’s housing market as a promising area for profitable and significant investment.

“We are actively seeking partnerships that can bring in both technical expertise and financing structures to support our housing agenda. This is not only about providing homes but also about enhancing our communities and ensuring that urban growth is balanced with environmental preservation,” Oppong Nkrumah noted.

The Minister cited current efforts in Ghana to support the housing industry, including district-level housing programs and the government’s recent affordable housing projects.

He recognized the challenges the country faces, such as the high cost of building materials and the restricted availability of reasonably priced credit for homebuyers and developers.

Oppong Nkrumah asserts that government action alone is insufficient to address these problems. According to him, it necessitates a comprehensive strategy in which all parties involved are dedicated to the same goal.

Additionally, Mr. Mlynár praised the government’s proactive measures in tackling the issues of urban development and conveyed his support for Ghana’s endeavors.

Ghana’s Affordable Housing Making Impressive Progress

He said that UN-Habitat is prepared to help nations like Ghana by offering technical support, platforms for communication with possible funding sources, and advice on best practices.

“The World Urban Forum serves as a hub for knowledge-sharing and partnerships, and we are encouraged by Ghana’s dedication to sustainable urban development,” Mr. Mlynár said.

Speaking at the twelfth session of the World Urban Forum, Minister Oppong Nkrumah reaffirmed Ghana’s commitment to implementing policies that foster social inclusion and resilience in housing, with a particular focus on low-income groups and the informal sector.

“Housing is a basic human right, and our role as leaders is to ensure that every Ghanaian has access to safe, affordable housing. This is integral to our national development goals,” he said.

Ghana had a rare chance to network with influential people and possible investors from around the world at the World Urban Forum. The Ghanaian delegation emphasized the need for proactive, long-term solutions that would not only address the housing shortage but also foster economic growth and job creation as talks took place in Cairo.

According to the Minister, the government is ready to decide and rethink Ghana’s housing future and turn it into an example of sustainable urban development in Africa.