Why Republic Bank is betting big on mortgages

Republic Bank (Ghana) PLC is putting mortgage financing back at the centre of its growth strategy, with Managing Director, Dr Benjamin Dzoboku, saying the move represents a return to the institution’s original purpose.

According to Dr Dzoboku, Republic Bank was established primarily as a mortgage finance institution before evolving into a commercial bank, and his administration has therefore decided to reconnect the bank with that original mandate.

“That is our dream, and that is the reason why the bank was formed initially as a mortgage finance, and then we evolved to become a commercial bank,” he said.

Dr Dzoboku made the disclosure in an interview on Joy FM’s Personality Profile with Lexis Bill on Thursday, September 17, 2026.

He said the renewed focus had already strengthened the bank’s position in the mortgage market, with Republic Bank currently holding more than 38 per cent of the market, according to him.

“So, when I took over, I decided, 'Look, let's go back to the reason why the company was formed, so now we took over, and we are the market leaders. We have over 38% market share, and it is my expectation that by the end of the year we should be about 40 to 42,” he said.

Back to the core

The renewed mortgage focus marks a deliberate attempt by the bank to build on an area that has historically been central to its identity.

Republic Bank has described mortgage financing as a key pillar of its five-year strategic plan, linking homeownership to family security, community stability and long-term wealth creation. In December 2025, the bank signed a Memorandum of Understanding with the State Housing Company Limited to provide tailored mortgage financing to SHC customers and other Ghanaians seeking quality and affordable homes.

The partnership is designed to bring together the supply of housing and access to finance, with SHC providing housing while Republic Bank provides mortgage facilities to eligible customers.

The bank has also been broadening its mortgage offering to cater for different categories of prospective homeowners, including resident and non-resident Ghanaians, new and repeat home buyers, salaried workers, self-employed professionals and business owners.

Its Home Purchase Mortgage, for instance, provides financing of up to 100 per cent of property value for qualifying resident Ghanaians, while allowing mortgage terms of up to 20 years for cedi-denominated facilities.

Tackling affordability

The renewed emphasis on mortgages comes against a housing market in which affordability remains a major obstacle for many prospective homeowners.

Dr Dzoboku has previously identified affordability, rather than simply the availability of houses, as one of the major challenges confronting Ghana's housing sector, pointing to low household incomes, high borrowing costs and land-related difficulties as factors limiting access to homeownership.

Republic Bank has consequently been positioning its mortgage products and partnerships as part of the broader response to the financing gap.

The bank says it currently works with more than 110 developers, giving prospective homeowners access to a range of properties through its mortgage offering. Its mortgage portfolio also includes home completion, home improvement, build-and-own, land, home equity, pension-backed and other specialised facilities.

Taking mortgages closer to customers

The strategy is also being supported by initiatives aimed at bringing housing developers, financial institutions and prospective homeowners together.

One such initiative is the Republic Bank JoyNews Habitat Fair, under a partnership between Republic Bank and the Multimedia Group.

The next edition of the fair is scheduled for Friday, September 25, to Sunday, September 27, 2026, at Junction Mall, Nungua.

The three-day event will provide prospective homeowners and property investors with direct access to developers, financial institutions and other players in the housing ecosystem, allowing them to explore property, financing and homeownership options in one place.

The partnership forms part of Republic Bank’s broader effort to expand access to housing finance and connect potential homeowners with the information and services required to navigate the property market.

The bank recently offered up to 100 per cent mortgage financing for qualifying customers at its Habitat Fair clinic, while its mortgage team has also been educating prospective borrowers on affordability and responsible borrowing.

A strategic comeback

For Dr Dzoboku, however, the mortgage push goes beyond the pursuit of market share.

It represents a strategic return to the business for which the institution was originally established.

With the bank reporting more than 38 per cent of the mortgage market and setting its sights on 40–42 per cent by the end of 2026, the renewed focus signals an attempt to strengthen Republic Bank’s position in housing finance while expanding its reach among Ghanaians seeking to own, build or improve homes.

The strategy, anchored in mortgage products, housing partnerships and customer-focused initiatives, places home financing firmly at the centre of Republic Bank’s current growth agenda.

READ ALSO: Republic Bank targets 42% mortgage market share by 2026 year-end

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.