Republic Bank Eyeing Up to 42% Share of Ghana Mortgage Market

Republic Bank (Ghana) PLC is targeting 40-42 per cent of Ghana’s mortgage market by the end of 2026, as it intensifies efforts to reclaim its position as a dominant player in the country’s housing finance sector.

The Managing Director of Republic Bank (Ghana) PLC, Dr Benjamin Dzoboku, disclosed this in an interview on Joy FM’s Personality Profile, hosted by Lexis Bill, on Thursday, September 17, 2026.

He said the bank currently held more than 38 per cent of the mortgage market and was determined to build on that position through a renewed focus on mortgage financing.

“That is our dream, and that is the reason why the bank was set up initially as a mortgage finance, and then we evolved to become a commercial bank. So, when I took over, I decided that ‘let’s go back to the reason why the company was set up for’. 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.

Dr Dzoboku said the renewed mortgage drive reflected the bank’s decision to reconnect with its original mandate as a mortgage finance institution before its evolution into a full-service commercial bank.

The strategy comes at a time when Republic Bank is stepping up its housing finance activities through new partnerships, product development and efforts to make the mortgage application process faster and more accessible.

In January 2026, the bank announced plans to reconfigure its mortgage financing operations, with emphasis on digital verification, reduced processing times and specialised advisory services for prospective homeowners and property investors.

Republic Bank has also been involved in efforts to expand access to lower-cost housing finance through the National Mortgage Scheme. In August 2026, the National Homeownership Fund announced the resumption of lending under the scheme at an interest rate of 8.4 per cent, following a review undertaken in collaboration with Republic Bank.

Products and pricing

The bank’s current mortgage offering includes home purchase, home equity, home completion, home improvement, buy-build-and-own, pension-backed, executive, switch and land mortgages.

According to Republic Bank’s published mortgage information, its current individual cedi mortgage rate is 18 per cent per annum fixed, while its published USD mortgage rate is 11.5 per cent per annum. Cedi mortgages can run for up to 20 years, while USD mortgages can run for up to 15 years.

The bank has also sought to widen the pool of potential homeowners through pension-backed mortgage financing. The product enables eligible pension contributors to leverage qualifying retirement savings towards homeownership, building on Republic Bank’s earlier partnership with corporate trustee Petra Trust.

Republic Bank JoyNews Habitat Fair

The renewed mortgage push is also being complemented by the Republic Bank JoyNews Habitat Fair, a partnership between Republic Bank and Multimedia Group designed to connect prospective homeowners with developers, financial institutions and other players in the housing sector.

The next edition of the Republic Bank JoyNews Habitat Fair is scheduled for Friday, September 25 to Sunday, September 27, 2026, at Junction Mall, Nungua.

The three-day event is expected to give prospective homeowners and property investors direct access to housing developers, financial institutions and other service providers, while allowing them to explore home ownership, investment and financing options in one location.

The fair forms part of a broader expansion of the platform across Ghana. Republic Bank and Multimedia Group announced in August that the initiative would extend to Accra, Kumasi and Ho, with the aim of widening access to housing information and financing opportunities.

For Republic Bank, the mortgage push represents a return to a business area deeply rooted in its history.

The bank says its experience in mortgage banking has positioned it as a longstanding player in Ghana’s housing finance industry.

Its current strategy under Dr Dzoboku places mortgage banking at the centre of efforts to strengthen its position in the market and expand homeownership.

Source: myjoyonline.com