To ease the burden of Ghanaian citizens seeking to buy a home, and reduce the about two million housing unit deficit in Ghana, Republic Bank (Ghana) PLC, and the State Housing Company Limited (SHC) yesterday signed a Memorandum of Understanding (MoU) to partner to ease the burden of the Ghanaian home buyer.
Managing Director of Republic Bank, Dr Benjamin Dzoboku, said the mortgage is one of the pillars of the bank’s five-year strategy for Ghanaians to secure a home for themselves.
He said, “A mortgage represents security for families, stability for communities, and a legacy for generations. Therefore, our commitment as a Bank is to make homeownership simple, affordable and within reach for every Ghanaian.”
He noted that the objectives of the SHC align with those of Republic Bank, hence the decision to partner to make the dream of homeownership achievable for all Ghanaians.
The Managing Director of SHC, John S. Bawah, said upon assuming office, his administration realised that “it wasn’t only a supply problem, there was also a challenge on the demand side, and the biggest challenge with that was the access to finances.”
He stated that the administration then made the decision to create a desk to provide mortgage facilitation for people who wanted to buy homes from them.
He was optimistic that the signing of this agreement between Republic Bank and SHC was the start of a long and successful partnership, which would see the Ghanaian home buyer being offered more flexible home financing conditions and interest rates.
