Societe Generale Ghana (SG Ghana) has introduced an innovative mortgage solution aimed at making home ownership more accessible for Ghanaians.

The new product, "Home Sweet Loan SG Ghana," was officially launched at a vibrant event held in Accra, marking a significant milestone in the bank’s commitment to enhancing financial inclusion and supporting the housing sector in Ghana.

The launch event saw a full house of industry experts, financial analysts, and media personnel, all eager to learn about the details of this promising new offering.

SG Ghana's Managing Director, Hakim Ouzzani, delivered a compelling speech outlining the vision and benefits of the "Home Sweet Loan SG Ghana" product.

He emphasised the bank’s dedication to addressing the challenges faced by prospective homeowners in Ghana.

He stated, "for us at Societe Generale Ghana, homeownership is more than just acquiring a property; it is about creating a sanctuary, building a future, and investing in stability and security. We understand the emotional and financial significance that comes with purchasing a home, and we are committed to making this journey as seamless and rewarding as possible for our customers.”

He also highlighted the tailored features of the new product, designed to meet diverse financial needs.

"We understand that every customer’s financial situation is different, and so we offer a range of homeownership options with flexible repayment terms, allowing you to choose the option that best suits your financial goals. It is for this reason that we have partnered with the Ghana Real Estate Developers Association (GREDA) and other credible real estate providers, to offer our customers with credible options from very high-end housing to affordable housing units,” he added.

Patrick Ebo Bonful, President of the Ghana Real Estate Developers Association (GREDA), praised the launch of the "Home Sweet Loan" as timely, given the high cost of housing in Ghana.

"We at GREDA see the launch of SG Ghana’s 'Home Sweet Loan Mortgage Finance Product' as timely and welcome news, especially for prospective homebuyers," Mr. Bonful said.

He also noted that the real estate sector imports more than 70% of its building materials, which exposes it to the instability of exchange rates and increases housing costs.

The "Home Sweet Loan SG Ghana" is expected to become a game-changer in the mortgage sector, offering competitive interest rates, flexible repayment terms, and a streamlined application process.

The Home Sweet Loan offers a loan tenure of 60 to 240 months, with a maximum amout of GH6 million available for eligible customers. This new initiative reflects Societe Generale Ghana’s ongoing efforts to innovate and provide solutions that align with the needs of its diverse clientele.