President John Dramani Mahama called on Ghanaians in the Caribbean to tap into a $1 billion mortgage initiative launched by his administration. The speech was delivered on the sidelines of the Commonwealth Heads of Government Meeting in St. John’s, Antigua and Barbuda, where he addressed the Ghanaian community in the region.
Housing had become a priority for the president, who explained that the scheme would allow beneficiaries to spread payments over a period of 15 to 20 years. “Housing is one of the main areas we are beginning to look at. We are doing a mortgage of $1 billion. I announced one billion Ghana Cedis so that people who want to own houses can get a mortgage for 15 or 20 years. You pay it little by little until you own it,” Mahama said.
He emphasized that the programme was open to the diaspora, offering a formal route for Ghanaians abroad to invest in property back home and avoid the risks associated with informal arrangements. “When we do this, we will involve the diaspora and everybody, so that you do not have to send money to ‘Wofa.’ You send money through a more legal route that will enable you to own a house and become a homeowner,” he added.
The president assured the audience that the situation at home remained stable. “Everything is fine back at home. I am sure you know more about what is happening at home than we do because we have been away,” he said, underscoring the diaspora’s role as a pulse on national developments.
Mahama’s outreach forms part of a broader diaspora engagement strategy during the CHOGM Summit, during which he also held bilateral discussions with other world leaders on trade, investment and cooperation.
As the programme rolls out, Ghanaian officials will likely provide further details on eligibility, application procedures and the legal framework that will underpin the mortgage scheme. Ghanaians abroad who are interested in home ownership back home may soon find a streamlined, government‑backed pathway to achieve that goal.
