Republic Bank (Ghana) PLC has launched a new mortgage campaign offering interest rates in the “teens,” citing the appreciation of the Ghana cedi and improved economic conditions as enabling factors.
The campaign, which runs through August 2025, is expected to expand access to home financing at a time when market rates have been largely unpredictable. Bank officials say the move reflects a broader strategy to align lending products with current macroeconomic trends.
“In line with the cedi’s strong performance, we are passing the benefits onto Ghanaians through highly attractive mortgage packages,” said Dr. Benjamin Dzoboku, Managing Director of Republic Bank. “This is a golden moment for potential homeowners to make their move.”
Republic Bank’s indicative forex rates as of June 12 reflect the cedi’s resilience. The bank is buying the U.S. dollar at GHS 9.70 and selling at GHS 10.59. The British pound is being bought at GHS 13.10 and sold at GHS 14.31, while the euro stands at GHS 11.06 (buy) and GHS 12.09 (sell). These relatively stable figures mark a contrast to previous months of sharp volatility, bolstering confidence in cedi-denominated lending.
The mortgage facility, which comes with fixed interest rates in the teens, targets a wide range of borrowers including first-time buyers, current homeowners seeking refinancing, and individuals upgrading their residences. Republic Bank says the interest rate will remain fixed for the full term of the loan, offering stability in what is still a gradually recovering housing market.
Dan Adjetey Mohenu, the Bank’s Head of Mortgage, said the lower rates would allow borrowers to access higher loan amounts while reducing overall interest burdens. “Our reduced cedi mortgage interest rates translate into increased loan amounts, substantial savings on total interest paid, and flexible terms to suit every borrower’s need,” he explained.
He also encouraged individuals with mortgage loans from other banks to consider switching under the campaign to benefit from the revised rates.
Republic Bank has been a long-standing player in Ghana’s mortgage finance space, and this latest move comes amid cautious optimism around inflation and exchange rate movements. This initiative could help stimulate activity in the real estate sector, particularly for middle-income buyers who were previously priced out by high lending rates.
Prospective borrowers are being directed to visit any Republic Bank branch or contact its mortgage hubs in Accra and Kumasi for more details.
The campaign comes as Ghana’s broader economy continues to show signs of stability following recent fiscal and monetary reforms.
