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Ecobank and Devtraco sign mortgage financing agreement

Wed, 28 Oct 2020 Source: Ecobank Ghana

Ecobank Ghana and the Devtraco Group on Monday, October 26, 2020, signed a mortgage financing agreement under which Ecobank will provide exclusive financing arrangements to would-be homeowners desirous of patronizing luxury and middle-income homes from Devtraco Plus; Devtraco Limited.

The agreement, which was signed at the ultra-modern head office of Ecobank in Accra, affords high net worth individuals and middle-income earners the opportunity to acquire homes at competitive rates with associated flexible payment terms and conditions.

Speaking at the signing ceremony, Dr. Edward Botchway, Executive Director at Ecobank Ghana said;

“As a bank with a special interest in the development of our people we are particularly interested in mortgage financing, consequently, we have always ensured that we work with selected providers to meet the varying needs of the market.

"We do this to also compliment the on-going efforts of the government to provide decent and affordable homes for the people of Ghana. In addition, this agreement with Devtraco Plus means that Ecobank is enhancing its participation in the luxury end of the market, where it will be providing high net worth individuals with appropriate financing schemes to enable them to acquire high-end residential properties for investment purposes.

This effort is in addition to our mortgage commitments to the lower ends of the market. We are targeting Ecobank customers, employees, as well as Ghanaians in the diaspora and non-Ecobank customers, who desire to own homes”. he said.

On his part, the Group Chief Executive Officer of the Devtraco Group, Mr. Annish Doorgapersad said;

“We see this as an opportunity to provide housing for more Ghanaians and I believe we are doing our part, through this partnership, to reduce the housing deficit by substantially reducing the mortgage costs.

"We are excited to offer investment opportunities to high-net-worth buyers as they seek to secure a long-term store of value. More importantly, Devtraco is also very happy to be able to offer the most competitive mortgage rates of 9% on the market to the rising middle-income bracket, thereby, making homeownership a reality for more Ghanaians”.

Present at the ceremony were senior officials of the two entities, including; Rita Tsegah - Head of Corporate Communications and Marketing, Henry Ampong - Head of Corporate Banking, Kwesi Attobrah - Head of Personal Banking and Shirley Dontoh - Head of Liability Products & Bancassurance, all from Ecobank.

The Devtraco Group team was made up of; Jorge Osório - Group Sales and Marketing Director, Delna Duodu - Sales Manager, Devtraco Limited, Ewurabena Braye - Sales Manager, Devtraco Plus and Robert Owusu-Sekyere - Marketing Manager, Devtraco Plus.

Source: Ecobank Ghana

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