Ghana has announced a new financial support scheme aimed at helping homeowners complete unfinished houses. The initiative, proposed by President Nana Akufo-Addo, offers a range of financing options including mortgages, credit unions, and pension-backed loans. The program is designed to assist citizens who are struggling to finish their homes due to financial constraints.
The government has partnered with financial institutions to provide tailored solutions that allow homeowners to pay for construction in installments. This includes a special support scheme that leverages pension funds to offer affordable loan options. The initiative is part of broader efforts to improve housing affordability and reduce the number of unfinished homes across the country.
The proposal comes amid growing concerns about the rising cost of construction materials and the economic impact of inflation. Previously, many Ghanaians have faced difficulties in completing their houses due to limited access to credit and high upfront costs. The new scheme aims to address these challenges by offering more flexible and accessible financial tools. The government has also emphasized the importance of collaboration between public and private sectors to ensure the success of the program.
