State Housing, Republic Bank partner to widen affordable mortgage access

By Juliet ETEFE ([email protected])

The State Housing Company Limited (SHC) and Republic Bank Ghana have signed a Memorandum of Understanding (MoU) aimed at widening access to affordable mortgage financing.

The agreement, signed in Accra on December 9, 2025, seeks to reduce the financial burden prospective homeowners face by allowing buyers of SHC houses to access tailored mortgage products from Republic Bank under preferential terms.

Both organisations expressed optimism that the agreement will help address barriers to affordable housing, while supporting government’s broader objective of reducing the persistent accommodation challenge.

Managing Director of SHC, John Bawah, described the partnership as a “significant step” in fulfilling the company’s core mandate of making housing accessible to the majority of Ghanaians.

According to him, the country’s housing challenge extends beyond limited stock, noting that the inability of many Ghanaians to mobilise large upfront payments had weakened demand.

“We found out very quickly that we did not only have a supply problem, which is the limited housing stock available. However, we also had a problem with the demand side, which is people who wanted houses but could not afford what was available on the market,” he stated.

He explained that the partnership was designed to enable working Ghanaians who demonstrate credit worthiness to acquire mortgages when purchasing homes from SHC.

“Our aim with Republic Bank is to open up accessibility to all working Ghanaians… and the understanding between us and them is that they will get some preferential treatment as customers of State Housing Company Limited,” he said.

For his part, Managing Director of Republic Bank Ghana, Dr. Benjamin Dzoboku, said the partnership was significant to the bank’s long-standing ambition of supporting home ownership in Ghana.

“If you know the history of the Republic Bank, we started as a mortgage company. And our expectation is to address the housing deficits in this country; hence, this partnership is important for us,” he said.

He affirmed that Ghanaians would benefit from competitive mortgage products.

“The people of Ghana will have to enjoy our flexible mortgage, the lowest in the market. Now that we are going to have the supply, the demand is ready,” he added.

Dr. Dzoboku stressed that mortgage accessibility represents long-term social value, saying: “We believe that mortgage represents security for families, stability for communities and legacy for generations”.

He indicated that the partnership is intended to remain in place as long as both institutions continue operating in Ghana, given the scale of housing deficit currently estimated at 1.8 to 2 million units.

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