The government has announced plans to invest GH¢500 million this year into a revolving housing fund aimed at supporting teachers to own homes, with an additional GH¢1 billion expected to be committed in 2026.
President John Dramani Mahama made the announcement at the 54th Delegates Conference of the Ghana National Association of Teachers (GNAT) held at the University of Professional Studies, Accra (UPSA).
According to the President, the initiative will be implemented in partnership with GNAT and Republic Bank and is designed to enable teachers to channel their rent payments towards acquiring their own homes. He disclosed that the initial GH¢500 million allocation has been captured in the 2026 budget to kick-start the scheme.
President Mahama explained that the housing fund will operate as a revolving facility, with financial contributions from GNAT, Republic Bank and participating teachers. Under the arrangement, teachers will be able to apply for housing units to be constructed in locations of their choice, subject to land availability.
He added that district assemblies across the country will make land available to support the project, particularly in areas where teachers are posted. This, he said, will allow beneficiaries to gradually pay for their homes over time instead of spending on rent.
The President noted that the government will finalise the operational framework for the housing fund within the year and scale up the programme next year to accommodate more teachers nationwide.