Republic Bank (Ghana) PLC is significantly increasing its focus on mortgage financing. The bank aims to capture between 40% and 42% of the mortgage market by the close of 2026. This strategic shift marks a return to the institution's founding mission as a primary mortgage finance provider.
Currently, Republic Bank commands more than 38% of Ghana's mortgage market. Managing Director Dr. Benjamin Dzoboku stated this renewed emphasis has already strengthened the bank's position. He highlighted that the bank was initially established for mortgage finance before evolving into a commercial bank. His administration decided to reconnect with this original mandate.
This renewed focus aligns with broader efforts to address Ghana's significant housing deficit and affordability issues. Homeownership remains a challenge for many Ghanaians due to factors like low incomes and high borrowing costs. Republic Bank's strategy aims to bridge this financing gap, making homeownership more accessible across various income levels.
Dr. Benjamin Dzoboku explained the bank's vision in an interview on Joy FM’s Personality Profile. He said, “That is our dream, and that is the reason why the bank was formed initially as a mortgage finance.” He added, “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.”
The bank's commitment to mortgages has several implications for Ghana's housing sector and financial markets. Increased competition in mortgage lending could potentially lead to more favorable terms for borrowers. This could stimulate demand for housing and support the construction industry, which are crucial for economic growth.
Republic Bank's five-year strategic plan positions mortgage financing as a central pillar. The bank views homeownership as vital for family security, community stability, and long-term wealth creation. This long-term perspective suggests sustained investment in the sector, benefiting both individuals and the national economy.
In December 2025, Republic Bank signed a Memorandum of Understanding with the State Housing Company Limited. This partnership aims to provide tailored mortgage financing to customers of SHC and other Ghanaians seeking affordable homes. SHC supplies the housing, while Republic Bank provides the necessary financial facilities.
The bank has also diversified its mortgage offerings to serve a wide range of prospective homeowners. These include resident and non-resident Ghanaians, first-time buyers, repeat buyers, salaried workers, and self-employed professionals. Products like the Home Purchase Mortgage offer up to 100% financing for qualifying resident Ghanaians, with terms extending up to 20 years for cedi-denominated facilities.
Addressing affordability is a key driver behind this strategy. Dr. Dzoboku has previously identified affordability, not just housing availability, as a major challenge. High borrowing costs and land-related difficulties limit access to homeownership for many. Republic Bank's products and partnerships directly tackle these barriers.
The bank collaborates with over 110 developers, offering prospective homeowners a diverse selection of properties. Its comprehensive mortgage portfolio includes facilities for home completion, home improvement, land acquisition, and pension-backed mortgages. These options cater to various housing needs and financial situations.
To further connect with customers, Republic Bank co-hosts the Republic Bank JoyNews Habitat Fair. The next fair is scheduled for September 25-27, 2026, at Junction Mall, Nungua. This event brings together developers, financial institutions, and potential homeowners, streamlining the homeownership process.
The Habitat Fair allows attendees to explore property options, financing solutions, and gain insights into the property market. Republic Bank recently offered up to 100% mortgage financing at a Habitat Fair clinic. Its mortgage team also educates prospective borrowers on affordability and responsible borrowing practices.
For Dr. Dzoboku, this mortgage push is more than just gaining market share. It represents a strategic return to the bank's foundational business. The bank's ambition to reach 40-42% market share by year-end 2026 signals a strong commitment to strengthening its position in housing finance. This expansion will benefit many Ghanaians seeking to own, build, or improve their homes.