Ecobank and Devtraco sign mortgage financing agreement

BY: Suleiman Mustapha
Dr Edward Botchway and Mr Annish Doorgapersad exchanging copies of the signed agreement
Dr Edward Botchway and Mr Annish Doorgapersad exchanging copies of the signed agreement

Ecobank Ghana and the Devtraco Group have signed a mortgage financing agreement for the bank to provide exclusive financing arrangements to would-be homeowners desirous of patronising luxury and middle-income homes from Devtraco Plus and Devtraco Limited.

The agreement which was signed in Accra, affords high net worth individuals and middle-income earners the opportunity to acquire homes at competitive rates with associated flexible payment terms and conditions.

Speaking at the ceremony, Executive Director for Finance, who also doubles as the Executive in charge of Consumer Banking at Ecobank Ghana, Dr Edward Botchway said; “As a bank with special interest in the development of our people, we have always ensured that we work with selected providers to meet the varying needs of the market”.

Dr Edward Botchway and Mr Annish Doorgapersad exchanging copies of the signed agreement while other senior members of their respective teams look on

Affordable homes
“We do this to also compliment the on-going efforts of government to provide decent and affordable homes for the people of Ghana”, he added.

The agreement with Devtraco Plus means that Ecobank is enhancing its participation in the luxury end of the market, where it will be providing high net worth individuals with appropriate financing schemes to enable them acquire high end residential properties for investment purposes.

“We are targeting Ecobank customers, employees, as well as Ghanaians in the diaspora and non-Ecobank customers, who desire to own homes”, Dr Botchway said.

Mortgage costs
Group Chief Executive Officer of the Devtraco Group, Mr Annish Doorgapersad said; “We see this as an opportunity to provide housing for more Ghanaians and we are doing our part, through this partnership to reduce the housing deficit by substantially reducing the mortgage costs”.

“We are excited to offer investment opportunities to high-net-worth buyers as they seek to secure a long-term store of value”.

He said Devtraco will also offer the most competitive mortgage rates of nine per cent on the market to the rising middle-income bracket and making home ownership a reality for more Ghanaians.

Present at the ceremony were senior officials of the two entities, including; Mrs Rita Tsegah - Head of Corporate Communications and Marketing, Mr Henry Ampong - Head of Corporate Banking, Kwesi Attobrah - Head of Personal Banking and Shirley Dontoh - Head of CASA & Bancassurance, all from Ecobank.

The Devtraco Group team was made up of; Mr Jorge Osório - Group Sales and Marketing Director, Delna Duodu - Sales Manager, Devtraco Limited, Ewurabena Braye - Sales Manager, Devtraco Plus and Robert Owusu-Sekyere - Marketing Manager, Devtraco Plus.