Kwabena Ampofo Appiah (2nd left) and Farid Antar (3rd left) in a group photgraph with some officials from their institutions
The State Housing Company (SHC) has signed a new mortgage agreement with the Republic Bank Ghana to provide quality and affordable homes to Ghanaians.
The agreement, which spans over a period of 20 years, will see Republic Bank provide mortgage financing to the SHC to help it roll out its Nationwide Affordable Housing Agenda.
The financing facility will offer the SHC a mortgage rate of less than
12 per cent.
At a brief ceremony to commemorate the signing
at the Head Office of the Republic Bank in Accra, last Friday, Managing
Director of the SHC, Kwabena Ampofo Appiah, iterated that his outfit was poised
and in good standing to provide lasting solutions to the housing needs of Ghanaians.
The investment, he noted, corresponded with
efforts to close Ghana’s housing gap which was estimated at about two million
people.
“The core mandate of SHC is to increase the
availability of dwelling houses in Ghana by providing affordable houses in
Ghana; and quality is one thing we don’t compromise on,” he stressed.
He added that accommodation facilities under the
partnership would not sell over GH¢140,000 thus making it affordable for all
Ghanaians.
On his part, Managing Director (MD) of Republic
Bank, Ghana, Farid Antar, hinted that the bank’s partnership with SHC was
expected to improve the country’s relatively low mortgage finance penetration
rate, which was one of the most critical factors contributing to the housing
gap.
“Home financing will remain one of our key
strengths and we confirm the bank’s commitment to play our part to help reduce
the housing deficit in the country,” he assured.
By Nii Adjei Mensahfio