State Housing, Absa Bank partner to expand mortgage financing in Ghana
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State Housing Company Limited and Absa Bank Ghana have signed a memorandum of understanding aimed at expanding access to mortgage financing and addressing Ghana's estimated housing deficit of 1.8 million units.
State Housing Company Limited (SHC) and Absa Bank Ghana have signed a memorandum of understanding (MoU) aimed at expanding access to mortgage financing and helping address Ghana's estimated housing deficit of 1.8 million units, according to a report by the Business and Financial Times.
The partnership is designed to broaden access to mortgage products for prospective homebuyers, bringing together the state housing developer's portfolio with Absa's banking and mortgage lending capabilities.
Ghana's housing deficit has been a long-running challenge, with successive governments and private developers seeking financing models that can make homeownership more attainable for middle- and lower-income earners.
The MoU signals continued efforts by the banking sector to deepen mortgage lending in Ghana, where high interest rates and limited long-term financing have historically constrained homeownership.