GHL Bank receives $15m boost for mortgage loans

GHL Bank has received $15 million from the African Development Bank to boost access to home ownership for lower-middle to middle-income Ghanaians.

The move will further entrench the GHL Bank’s market leadership for providing affordable housing in Ghana and help Ghanaians in these income brackets to actualise their dreams of owning a home.

A statement issued by GHL Bank said the credit would go towards developing an effective, affordable mortgage finance sector, where the ripple effects will have a positive impact on the housing industry value chain.

One of such projects, aimed at providing quality affordable housing for all, was the Affordable Housing Facility Project, being undertaken in partnership with Apollonia City to construct 100 affordable homes by the end of 2018.

Since 2006, GHL Bank, formerly specializing in just mortgage financing, has disbursed over $200 million in mortgage loans benefitting more than 3,000 households in Ghana’s urban and suburban centres.

Mr Dominic Adu, Chief Executive Officer of the GHL Bank said the Bank was demonstrating financial viability, ahead of the Bank of Ghana’s (BOG) GH¢400m capital requirement deadline in December 2018, and assured its clients and partners that the GHL Bank would have no difficulty in meeting all conditions stipulated by the Central Bank.

“Since launching as a one-stop full service universal bank, GHL Bank has and continues to undergo rigorous implementation of technology, innovation and digital banking services to cater for the much-anticipated growth in clients, business opportunities and the ever-growing demand for home and property acquisition,” the statement noted.

Source: GNA