Republic Bank (Ghana) PLC, the market leader in mortgage financing in Ghana, has entered into a Partnership with Adom City Estates to provide affordable housing to the average Ghanaian who dreams to own a house.
The bank signed a Memorandum of Understanding (MoU) with Adom City Estates, a member of the Adom Group of Companies in Accra on the back of over 100 housing units financed by Republic Bank and developed by Adom City Estates for their collective customers.
Mr. Benjamin Dzoboku, the Managing Director of Republic Bank (Ghana) PLC, speaking at the ceremony, stated that the poor economic situation in the country makes building a house very difficult, nonetheless, the bank together with Adom Estate is committed to delivering affordable houses to Ghanaians.
“Amidst the high cost of borrowing, forex volatility and a general rise in the cost of living, access to affordable housing is gradually becoming even more difficult. In this light, Republic Bank and Adom City Estate have decided to join forces in our common vision of providing quality and affordable shelter to the growing middle to upper income brackets.”Mr. Benjamin Dzoboku
Mr. Dzoboku further stated that the bank is excited about the opportunity offered by the partnership to both resident and non-resident Ghanaians.
CEO of Adom Group Promises Quality Properties
Bright Adom, CEO of Adom Group of Companies, in a brief speech read on his behalf by the managing director of Adom City Estates, Rev Joseph Opoku-Adjei, expressed his desire for the partnership’s success and commitment to ensuring that quality is not compromised in the development of all properties.
On his part, the Brand Ambassador for Adom City Estates, Abeiku Aggrey Santana, iterated that unlike others in the real estate space, prices of Adom City’s properties are quoted in the Ghanaian Cedis, making the properties very affordable and accessible by Ghanaians living home or abroad.
Mr. Abeiku Aggrey, meanwhile, called on the youths to take advantage of the mortgage opportunities offered by both partners, Republic Bank and Adom City Estate, to secure their homes before retirement.
Republic Bank (Ghana) PLC is the pioneer in the mortgage financing business in Ghana and has been providing mortgages to Ghanaians home and abroad for over 32 years, while Adom City Estates is an award-winning Developer-of-the-Year three consecutive times with properties in Tema Community 25, Kasoa, Kuntunse and Afienya.
Present at the MoU signing ceremony were the chief operating officer of Republic Bank, Ray Klien; the general manager, Commercial and Retail Banking, Joseph L. Ashong; the managing director of Republic Boafo, Evelyn Osei-Tutu; the CEO of Republic Investments, Madeline Nettey; the Internal Auditor of the Bank, Gabriel Kwamina Bonney and M Dan Adjetey Mohenu, senior manager, Mortgage Department. Also present were the management and some staff of Adom Group of Companies and Republic Bank.