Ecobank Ghana launches maiden housing and mortgage fair

Ecobank Ghana Limited, a fully networked commercial bank in Ghana with branches in almost all 10 regions of the country has held its maiden housing and mortgage fair at the Aviation Social Centre in Accra.

The fair which got launched today is a 2-day event starting at 10 am to 6 pm each day and ends on Friday the 8th of September. The fair is themed “Southern edition of the maiden Ecobank Housing Fair” and It features the nation’s top property developers, high-end estate agencies and premium vendors of home and office products and services like mortgage lenders, electronics, and home décor companies.

The Executive Director of Legal, Human Resource and Compliance at Ecobank Ghana, Morgan F. Asiedu said the housing fair forms part of Ecobank’s resolve to help government bridge the 1.7 million housing deficit and in doing so, his outfit will display mortgages with highly competitive interest rates to all customers with medium to long-term financial options.

"As the biggest bank in the country today, Ecobank deems it a privilege to join forces with the government and other stakeholders in the quest to provide decent accommodation for all and to assist in reducing the housing deficit", he said.

Ghana’s population is estimated to reach 32.2 million by 2020 and with about 57 percent living in urban communities, the current housing deficit which is 1.7 million units is expected to rise to 2 million units by 2018.

Experts are therefore of the view that the country would require about 200,000 housing units every year for the next 10 years to be able to bridge the gap. A recent online survey by Jumia Homes Ghana and Hacking Adulthood has revealed that 91 percent of Ghanaians are not property owners and therefore, either live in rented accommodation or with their extended families.

He, therefore, urged all would-be home owners to approach the Ecobank Mortgage team for their experts to help access the needs by proposing various options available and the types of financial arrangements that would suit their income level.

"We believe that with our unbeatable pricing models on offer, our customers will take advantage not only to own a house but to also make huge savings in their housing budget in the long run", he stated.