Ghana Home Loans has held its annual Developers Seminar at the Africa Regent Hotel. The annual seminar which brought together over 100 real estate developers across the country was also attended by representatives from Shelter Afrique, a Nairobi based pan-African housing finance company owned by the African Development Bank.
Speaking at the seminar, the Chief Operating Officer of Ghana Home Loans, Kojo Addo-Kufuor presented an overview of the company indicating that although the year 2012 started on a shaky political and economic note, Ghana Home Loans has managed to disburse over $95mm in mortgages to over 1,300 clients across the country since its inception in 2006.
In his presentation, Mr. Addo-Kufuor added that Ghana Home Loans is very passionate about its ambition to make the dream of the average Ghanaian to own their dream a reality. This ambition according to him has translated in the company’s ability to marshal over $120mm in long-term funding ranging from 10-20 years. Adding that, the company could not have achieved this without the support of real estate developers and other players in the building industry. Ghana Home Loans is proud of strong bilateral link it has with all active real estate developers and hope that this will be reciprocated for the mutual benefit of all, he added.
Mr. Kojo Addo-Kufuor also highlighted the increased growth in residential properties from private vendors from the year 2010 to 2012 as one of the major contributors in bringing in business to the company. He allotted this to the fact that prospective home-buyers were in search of readily available properties which developers are unable to supply due to lack of funding. He charged developers to take advantage of institutions such as Shelter Afrique to access long-term construction funding and also commit themselves to delivering properties on time and to the required specifications.
Mr. Ellis Atekpe, the Head of Mortgages, also gave insight into Ghana Home Loans’ newest Land Purchase Mortgage. He explained the nature of the product as one specifically designed to meet the changing needs of applicants who wish to acquire serviced plots for residential purposes. The two-in-one nature of the product allows prospective applicants to access a construction loan from Ghana Home Loans to build their dream house.
A representative from the Business Development Department of Shelter Afrique, Mr. Zachary Munene also touched on how developers can access construction funding from the institution. Mr. Munene said the company has approved over $600mm in 44 African countries for both residential real estate development and related infrastructure.
The seminar was culminated with the presentation of special awards to Devtraco Limited, Dream Homes Ghana and Mayfair Estate Limited for their business to Ghana Home Loans for the year 2012.