BoG Pushes Tougher Due Diligence Rules in Ghana Property Deals
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Ghana’s central bank is tightening the screws on real estate transactions as fraud concerns rise across the sector. Brokers and investors are being urged to verify property ownership before any deal is completed.
The Bank of Ghana is urging real estate brokers and property stakeholders to adopt stricter due diligence measures in all property transactions to curb rising fraud in the sector. The call was made during an engagement with the Ghana Association of Real Estate Brokers in Accra focused on improving transparency in the market.
Officials emphasized that verifying ownership and checking for existing encumbrances before any sale is essential to protecting buyers and maintaining confidence in Ghana’s real estate system. The message comes amid ongoing concerns about disputed land deals and fraudulent property transfers.
The Bank also highlighted legal frameworks such as the Borrowers and Lenders Act and the Collateral Registry, which are designed to strengthen credit systems and reduce transaction risks. Industry stakeholders, including brokers, have acknowledged that informal practices have historically contributed to financial losses among unsuspecting buyers.
Going forward, regulators and industry players are expected to intensify enforcement and public education, with potential inspections of unlicensed operators and stricter compliance measures shaping how property deals are conducted in Ghana.