Ecobank Ghana has signed a partnership agreement with Enterprise Trustees to positively contribute towards helping Ghana to reduce the housing deficit.
“Under this agreement, Enterprise Trustees will make available to all workers, whose pension funds reside at Enterprise, a package that enables them to attract mortgage from Ecobank with zero down payments. The bank will disburse the mortgage loan to the beneficiaries, who will pay monthly instalments over a 15-year period,” Dan Sackey, Managing Director of Ecobank said, adding that beneficiaries can attract short term loans from the bank.
Mr. Sackey said it is a novelty for the Ghanaian financial services market, and should be embraced by workers, adding that the regular mortgage will require the borrower to make available at least 20% down payment, but in this case, the partnership offers a product that requires the borrower to make no deposit whatsoever.
“All what the borrower needs to do is to identify the house and Ecobank will provide the funding. With this offer, there is really no excuse for Enterprise Trustees Tier 3 contributors not to own their own homes and there is also no excuse for not accessing the requisite funding for their various projects,” he stated.
Mr. Sackey reiterated that there is the growing demand for excellent customer-friendly financial services across various customer segments globally, hence the pressure, therefore, makes it imperative for corporate institutions to want to customise their products and services to suite the various segments.
He said with Ecobank being the leading banking institution in Ghana, it will continue to demonstrate its commitment to helping solve critical issues of national interest, and that is why the bank has taken the lead to champion the deepening of financial inclusion as a bold contribution towards helping Ghana’s drive aimed at building a cashlite economy.
Managing Director of Enterprise Trustees, Joseph Ampofo, also said the process to explore further opportunities to contribute their quota to support the nation’s developmental agenda will continue in progress.
“This is a collaboration between two industry giants: Ecobank Ghana and Enterprise Trustees. We are optimistic our shared value of excellence will be our guiding principle as we work together for the betterment of Ghanaian workers to own homes through a unique mortgage solution. Among other features, 100% financing if the member has a minimum of 20% in their Tier 2 & 3 Fund,” he said.
He added that, playing their fiduciary role as trustee for clients of Enterprise Trustees, pension schemes should be rest assured because they have their full interest at heart, and this is another addition to the exciting value they create for clients in reaching their desired advantage.