Republic Bank Ghana has strengthened its commitment to tackling the country’s longstanding housing deficit, estimated between 1.8 and 2 million units through a new partnership with the State Housing Company Limited (SHC).

The two institutions have signed a Memorandum of Understanding (MoU) aimed at expanding access to quality and affordable homes for Ghanaians.

Speaking at the signing ceremony, Managing Director of Republic Bank Ghana, Dr. Benjamin Dzoboku, described the agreement as a critical step toward improving housing accessibility and promoting long-term social stability.

He noted that secure and affordable housing remains an essential foundation for families across the country.

According to Dr. Dzoboku, the collaboration is also aligned with Republic Bank’s five-year strategic plan, which places strong emphasis on supporting national development priorities, including bridging the housing gap.

Under the MoU, the bank will provide mortgage financing to Ghanaians and customers of the State Housing Company, making homeownership more feasible for many households.

The Managing Director of the State Housing Company, John Bawah, welcomed the partnership, emphasizing its potential to ease financial barriers for prospective homeowners.

He explained that individuals who can demonstrate creditworthiness will now have access to mortgage support to fund their building or home acquisition projects.

“We found out that we didn’t only have a supply problem but also the demand side which is people who wanted houses but couldn’t afford what was on the market so our aim with Republic Bank Ghana is to open up accessibility to all working Ghanaians who are able to demonstrate creditworthiness to be able to apply for a mortgage from the bank”, he said.

The collaboration between Republic Bank Ghana and the State Housing Company is expected to provide a significant boost to the housing sector, where affordability and access to financing remain major challenges.

Through this partnership, both institutions hope to expand mortgage availability, stimulate construction activity, and support the delivery of more affordable housing units across the country.