GHL to partner Gov’t for Affordable Mortgages

The Chief Executive Officer (CEO) of Ghana Home Loans (GHL), Mr. Dominic Adu, has said his outfit is keen on working with the government and building partnerships with stakeholders to make mortgages affordable. This is to create a conducive environment to make home ownership a much easier option.

According to him, as the niche market leader when it comes to mortgage lender in the country, Ghana Home Loans has chalked a lot of success over years, except that the housing and home ownership situation in the country is nowhere near satisfaction, hence the decision by the company to move a notch higher to transform the housing industry.

“We are transforming into a universal bank in order to grow and expand our existing offering, to help the average Ghanaian fulfill their dream of acquiring their own home, coupled with the option to buy land, as well. As a universal bank, we believe we would have the added advantage to operate in the housing market,” he said.

“We have the experience and the knowhow to better serve our clients and help more people realise their dreams of home ownership. Today, as GHL Bank, our vision is to be the foremost bank for wealth creation.”

Mr. Adu told GhanaNewsOnline.com.gh in an interview during the official launch of GHL Bank at the Airport Residential Area in Accra that the strategy would be to build on the impressive foundation of GHL to deliver a truly unique experience to clients, including a comprehensive range of personal, private, and business banking solutions.

Ghana Home Loans has transformed into a universal bank, to be known as GHL Bank, and is hoping to use its new deposit taking position to mobilise funds and be able to offer cheaper mortgages to players in its space.

Mr. Albert Essien, the Board Chairman of the bank, in an address said “these should be good times” for mortgage takers, stating that the banking license presents the company an opportunity to source cheaper funds through deposits as against much funding sources.

“Hitherto, we had always been borrowing from our lenders for our mortgages. It is good that we also have an opportunity to mop up deposits so we can manage our own liquidity,” he said.

Mr. Essien said “GHL Bank’s entry into the universal banking space has been long awaited. We have taken time to develop a very strong and effective corporate governance structure and we are poised to execute unflinchingly on the many expectations of our clients, shareholders and regulators.

There is a lot of opportunity in property financing in our country and these should be good times for those who would seize the chances being offered. This is the time to meet the needs of our clients, satisfy the requirements of our regulators and contribute immensely to the economy of Ghana with robust strategies”.

Source: Adovor Nutifafa || ghananewsonline.com.gh

dovor100@gmail.com

 

 

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