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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

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    EIU analysts forecast grim economic outlook for Africa in 2023

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Ghana Home Loans signs MOU with govt to deliver affordable housing

bycitibusinessnews
October 15, 2015
in Business, Local Economy, Top Stories
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Ghana Home Loans, the nation’s leading residential mortgage provider, has signed an MOU with the Department of Rural Housing (DRH), a policy formulation agency under the Ministry of Water Resources Works and Housing (MWRWH).

[contextly_sidebar id=”PzJG5DJQhhFytLzqc4uga75LLrUvR7mH”]Under the terms of this MOU, the two institutions shall collaborate to build and finance affordable housing for individuals or groups that already own parcels of land.

DRH shall undertake to build homes using improved local building materials such as Compressed Earth Bricks (CEB) and Micro Concrete Roof Tiles.

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As the mortgage partner, Ghana Home Loans shall provide the prospective home owners with Home Construction Mortgages to finance their projects.

The credit facilities have repayments periods of up to 15 years.

The use of locally sourced materials has the twin benefit of supporting local industry as well as delivering affordable housing to the target groups.

DRH offers a selection of spacious standard house designs ranging between 77 and 148 square metres.

However the Department will consider large scale projects which require a different set of house designs.

The product offering is targeted at individuals, staff associations, and credit unions that have acquired land for their members and are considering options for construction.

The challenge that these groups have typically faced has been identifying housing solutions within their income range and agreeing on a contractor to build for them.

–

Source:  Ghana Home Loans

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