State Housing Company Limited (SHCL) and Absa Bank Ghana have signed a Memorandum of Understanding (MoU) to expand access to mortgage financing as part of efforts to address Ghana's estimated 1.8 million-unit housing deficit.
The partnership is expected to improve access to affordable mortgage financing for prospective homeowners and help bridge the gap between demand for housing and the availability of suitable financing.
Managing Director of SHCL, John Bawah, expressed optimism that the collaboration would contribute to efforts to address the country's housing deficit by making mortgage financing more accessible.
He also said the current interest rate environment presents an opportunity for prospective homeowners to access mortgage facilities.
“I am looking forward to what we can do together. We are working hard from our side to address the supply side. The demand side has been hampered by low accessibility to mortgage funding, and thankfully, Absa and the general banking sector in Ghana are starting to re-secure more in terms of long-term financing, and that can be a benefit to the industry,” he stated.
— CitiNewsRoom
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