Stanbic Bank Ghana has expressed its readiness to support public sector workers to access affordable housing.
This was made known when Stanbic Bank, the Ministry of Works and Housing, and the Ministry of Finance as well as some development partners paid a working visit to Adom City Estates in Tema Community 25 on Monday, October 19.
Adom City Estates is a private developer building houses to complement the current affordable housing project by the Government of Ghana.
The development of the affordable housing is critical to many who want to see Africa grow.
Farihan Alhassan, Head of Business Banking, Stanbic Bank said, “We believe Africa is our home and the development of housing is closely linked with its economic growth, to this end, it is encouraging to see an opportunity such as this one which seeks to provide affordable housing for public sector workers; one which we can get on board in order to deliver on our purpose as a bank. We have done this in other countries and are leveraging our experience across the globe to advance Ghana’s economy. We currently have a number of applications we are processing and hope to see that this project is executed successfully”, added
The executives of Adom City disclosed that of the planned 1,500 housing units, 245 units are ready making up the phase one of the project.
Speaking during the tour, Minister for Works and Housing, Hon. Samuel Atta Akyea said, “Affordable housing to the Government is a divine undertaking, thus, the resolve to provide and prioritize meeting the housing needs of Ghanaians. What is frightening usually is the interest on mortgage payments but with partnerships such as the one with the banks present, the interests on the houses have been lowered in order to allow many people to purchase their houses.”