President John Mahama has recounted the “exhausting” and “frustrating” experience he and First Lady Lordina Mahama faced when they left his father’s house to begin their married life together.

Speaking at the National Conference on Housing Finance, President Mahama said they eventually found a home at Madina New Road after spending considerable time searching for accommodation that was both suitable and affordable.

He said their experience reflects the difficulties many young Ghanaian families continue to face when seeking accommodation.

“When I left my father’s house to start life with Lordina as a young couple, we encountered what many young Ghanaian families face when looking for accommodation.”

President Mahama said the search for a home involved covering significant distances across Accra with estate agents in an effort to find suitable accommodation within their means.

“The miles we covered with estate agents roaming the sprawling city of Accra in search of something that was suitable and affordable was a very exhausting exercise.”

He said the financial demands associated with securing the house also placed considerable strain on their finances.

“The chalewote fees, the multiple years’ rent in advance and the one month extra rent fee that is paid to the agent who found us the house almost ruined our finances even before we had started married life together.”

According to President Mahama, the situation remains a reality for many young Ghanaians, with substantial rent advances potentially consuming savings meant for other important needs.

“Many young Ghanaians are experiencing this same situation even as I speak today.”

He said rent advances can deplete savings that families would otherwise use to educate their children or establish small businesses.

President Mahama said the housing crisis must be viewed beyond statistics, stressing the human impact of inadequate and unaffordable housing.

“Behind every housing statistic is a person or family seeking security and hoping for a better future. This human reality is what must guide our deliberations in the next two days.”

He noted that Ghana’s housing deficit stands at 1.8 million units, while more than 30 percent of existing housing is inadequate, according to the 2024 Ghana Housing Profile referenced at the conference.

President Mahama said these figures demonstrate that addressing Ghana’s housing challenge requires both the construction of additional homes and improvements to existing living conditions.

“These figures remind us that our task involves both building additional homes and also, improving the conditions in which our people currently live.”

He said the country must also address overcrowding in slums, insecure tenure, poor sanitation and inadequate access to utilities.
President Mahama further stressed the need to ensure that new homes are safe, accessible and connected to jobs and essential services.