Republic Bank Ghana has deepened its commitment to addressing Ghana’s housing shortfall, estimated at between 1.8 million and 2 million units, through a new partnership with the State Housing Company Limited (SHC). The two organisations have signed a Memorandum of Understanding designed to expand access to affordable, quality homes.
At the signing ceremony, Republic Bank Ghana’s Managing Director, Dr. Benjamin Dzoboku, said the agreement is a major step toward improving housing accessibility and supporting long-term social stability. He noted that affordable housing remains a critical foundation for families and added that the initiative aligns with the bank’s five-year strategy, which prioritises national development needs, including closing the housing gap.
Under the MoU, Republic Bank Ghana will offer mortgage financing to Ghanaians, including SHC customers, making homeownership more achievable for households that traditionally face financial barriers.
State Housing Company Managing Director John Bawah said the partnership addresses both the supply and demand sides of the housing challenge. He explained that while housing availability is limited, many prospective buyers are unable to afford market prices without structured financial support.
“We found out that we didn’t only have a supply problem but also the demand side which is people who wanted houses but couldn’t afford what was on the market so our aim with Republic Bank Ghana is to open up accessibility to all working Ghanaians who are able to demonstrate creditworthiness to be able to apply for a mortgage from the bank”, he said.
The collaboration is expected to strengthen Ghana’s housing sector by widening mortgage access, stimulating construction activity and supporting the delivery of more affordable units nationwide.
