Republic Bank, State Housing Company Partner to Expand Affordable Homeownership in Ghana
By Praisebell Rosemond Larbi
Republic Bank Ghana has intensified efforts to address the nation’s persistent housing deficit, estimated between 1.8 and 2 million units, through a strategic partnership with the State Housing Company Limited (SHC). The collaboration aims to increase access to quality, affordable homes while supporting Ghana’s broader social and economic development goals.
The two institutions formalized their partnership through a Memorandum of Understanding (MoU) signed at a ceremony attended by top management and stakeholders from both organisations. The agreement is expected to create new opportunities for Ghanaians to access mortgage financing, helping bridge the gap between housing supply and demand.
Speaking at the signing, Republic Bank Ghana Managing Director, Dr. Benjamin Dzoboku, emphasised that the partnership represents a critical step toward improving housing accessibility across the country. “Secure and affordable housing is not only a basic necessity for families but also a foundation for social stability and national development. This partnership is designed to support Ghanaians in achieving their dream of homeownership,” he said.
Dr. Dzoboku explained that the initiative aligns with Republic Bank’s five-year strategic plan, which prioritises national development interventions, including initiatives to close the housing gap. Under the MoU, Republic Bank will provide mortgage financing to SHC clients and other eligible Ghanaians, making homeownership financially feasible for a larger segment of the population.
The partnership will particularly benefit working Ghanaians who can demonstrate creditworthiness but previously faced financial barriers to homeownership. SHC Managing Director, John Bawah, noted that the housing challenge is not only about insufficient supply but also the affordability of existing units. “We discovered that many prospective homeowners are unable to afford houses on the market. Through this collaboration with Republic Bank Ghana, we aim to expand access and make mortgage financing available to all qualified applicants,” he said.
The MoU also outlines plans to stimulate construction activity by linking financial support with SHC’s ongoing housing projects. By doing so, the partnership is expected to create jobs, enhance the real estate and construction sectors, and contribute to the delivery of more affordable housing units nationwide.
Beyond financing, the collaboration reflects the importance of innovative public-private partnerships in tackling Ghana’s housing deficit. Both institutions emphasised their commitment to transparency, efficient service delivery, and continuous engagement with prospective homeowners to ensure the partnership’s success.
Dr. Dzoboku further highlighted that increasing homeownership has far-reaching benefits, including stronger community stability, improved quality of life, and enhanced economic productivity. He called on other financial institutions and developers to consider similar collaborations to collectively address Ghana’s housing challenges.
With affordability and access to finance continuing to hinder homeownership, the Republic Bank–SHC partnership is positioned to play a transformative role in Ghana’s housing sector. The agreement promises not only to expand mortgage access but also to stimulate construction, generate employment, and provide a model for future collaborations aimed at achieving sustainable housing solutions in the country.
