Devtraco, Ecobank Sign Mortgage Financing Agreement

Dr. Edward Botchway and Mr. Annish Doorgapersad exchanging copies of the agreement

ECOBANK GHANA and the Devtraco Group have signed a mortgage financing agreement under which Ecobank will provide exclusive financing arrangements to would-be homeowners desirous of patronising luxury and middle-income homes from Devtraco Plus & Devtraco Limited.

The agreement, which was signed at the modern head office of Ecobank 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 signing ceremony, Dr. Edward Botchway, Executive Director for Finance, who also doubles as the Executive in charge of Consumer Banking at Ecobank Ghana, said, “As a bank with special interest in the development of our people we are particularly interested in mortgage financing, consequently, we have always ensured that we work with selected providers to meet the varying needs of the market.  We do this to also compliment the ongoing efforts of government to provide decent and affordable homes for the people of Ghana. In addition, this 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.”

On his part, Group Chief Executive Officer of the Devtraco Group, Annish Doorgapersad, said, “We see this as an opportunity to provide housing for more Ghanaians and I believe 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. More importantly, Devtraco is also very happy to be able to offer the most competitive mortgage rates of 9% on the market to the rising middle-income bracket, thereby, making home ownership a reality for more Ghanaians.”

Present at the ceremony were senior officials of both entities, including Rita Tsegah, Head of Corporate Communications and Marketing; 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 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.

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