Tag: mortgage
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Republic Bank and Petra Trust sign MoU to provide pension-backed mortgages to Ghanaians
Republic Bank (Ghana) PLC, one of the leading Universal Banks and a pioneer in the mortgage business in Ghana has signed a Memorandum of Understanding (MoU) with Petra Trust Limited Company, a corporate trustee, authorized by the National Pensions Regulatory Authority (NPRA) to manage pension schemes in Ghana. The MoU is a collaboration to provide…
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Republic Bank introduces two new flexible mortgage repayment plans onto Ghanaian market
Republic Bank (Ghana) PLC has introduced onto the market two new and additional mortgage repayment plans that are targeted at giving home owners more flexible forms of repayment and saving on interest paid at the end of the loan term. This is the first of its kind in Ghana and provides customers the ability to…
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First National Bank acquires GHL Bank
First National Bank (FNB) Ghana, has acquired hundred percent of GHL Bank. This therefore makes GHL Bank a subsidiary of First National Bank Ghana. A statement to Citi Business News confirmed the move, saying, the transaction has been approved by the boards of the two banks and has received the required regulatory approvals from the…
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Regulating rent advance in Ghana: Ministry commits to law to limit to 6 months
The Minister for Works and Housing, Samuel Atta Akyea has assured that plans are still in place to pass a legislation to force landlords to comply with the accurate rent advance fees to be charged in the country. He explains that the lack of housing units forms a major problem to the issue. Per the…
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Government abandons Housing & Construction Bank plans
Government has ditched the idea of establishing a Housing Bank which was aimed at reducing the high cost of mortgage in the country. Works and Housing Minister, Samuel Atta Akyea who disclosed this to Citi Business News however says the new plan is to allow the existing banks access to relatively cheaper funds to offer…
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![Occupancy rate for new houses is 40% [Infographic]](https://citibusinessnews.com/wp-content/uploads/2017/05/Houses-1.png)
Occupancy rate for new houses is 40% [Infographic]
At a time that Ghana is grappling with solving her worsening housing deficit, it is emerging that some property developers are also finding difficulty in getting occupants for their properties. As a result, most of them have begun counting their losses as the continuous delay compounds their interests to be paid on loans contracted from…
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Ghana’s housing crisis: High supply outstrips low demand?
At a time that Ghana is grappling with solving her worsening housing deficit, it is emerging that some property developers are also finding difficulty in getting occupants for their properties. As a result, most of them have begun counting their losses as the continuous delay compounds their interests to be paid on loans contracted from…
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Ghana’s housing crisis: Cost of construction escalates
The cost of accommodation in Ghana continues to rise over the years due to the increasing cost of building materials. Coupled with this is the depreciation of the cedi which has an impact on the total cost involved in building a house in Ghana. In the second of our new series dubbed, ”Ghana’s housing crisis”…
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Ghana’s housing crisis: Cost of land up by 450% in 13 years
For years Ghana has been battling with finding a solution to its housing challenges. Figures from players in the housing sector show Ghana’s housing deficit ranges from 1.7 million to 2 million. Despite moves by successive Governments and the private sector to reduce the deficit, it appears the multiplicity of the problem makes it difficult…
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HFC Bank upbeat of competition in mortgage offers
HFC Bank has ruled out any fears of losing to competition in the mortgage industry with the coming on board of GHL Bank. Managing Director of HFC Bank, Anthony Jordan explains that the vast housing needs of customers make it necessary for more players to come on board to address the issue. Considered as one…