Republic Bank Ghana is targeting between 40 and 42 percent of Ghana's mortgage market by the end of 2026 as the lender intensifies its focus on housing finance.

Managing Director Dr Benjamin Dzoboku says the bank currently controls more than 38 percent of the country's mortgage market and plans to expand that position through increased mortgage financing, new products and efforts to make accessing home loans easier.

Dzoboku disclosed the target during an interview on Joy FM's Personality Profile on September 17.

The strategy marks a return to one of Republic Bank's core businesses as demand for accessible housing finance remains a significant issue for prospective homeowners in Ghana.

BANK TARGETS 40 TO 42 PERCENT MARKET SHARE

Dzoboku said Republic Bank wants to increase its current mortgage market share of more than 38 percent to as much as 42 percent before the end of the year.

The Managing Director said the strategy reflects the institution's history as a mortgage finance company before it expanded into full commercial banking.

Since taking over the bank's leadership, Dzoboku has sought to place mortgage financing back at the centre of its growth strategy.

The targeted increase would strengthen Republic Bank's already significant position in Ghana's housing finance market.

MORTGAGE BUSINESS RETURNS TO CENTRE OF STRATEGY

Republic Bank has been expanding its mortgage operations as part of the renewed focus.

The bank announced plans earlier in 2026 to improve its mortgage financing process through digital verification, shorter processing periods and specialised advisory services for customers.

Its mortgage portfolio includes financing for home purchases, home construction, completion and improvement, as well as home equity, pension backed and land mortgages.

The bank also provides mortgage products for both resident and non resident Ghanaians.

For qualifying resident customers, Republic Bank says financing can cover up to 100 percent of a property's value.

AFFORDABILITY REMAINS A MAJOR CHALLENGE

Republic Bank's expansion comes as many prospective homeowners continue to face difficulties accessing affordable housing finance.

High borrowing costs, household income levels and property prices can significantly affect whether applicants qualify for mortgages and how much they can borrow.

Republic Bank says affordability assessments consider a customer's income and existing financial commitments.

The bank has advised that mortgage repayments together with existing debts should generally remain within 50 percent of a borrower's income.

Republic Bank currently offers cedi mortgages with repayment periods of up to 20 years, while its dollar denominated mortgages can extend for up to 15 years.

NATIONAL MORTGAGE SCHEME RESUMES LENDING

Republic Bank is also involved in Ghana's National Mortgage Scheme.

The National Homeownership Fund announced in August that lending under the scheme would resume at an interest rate of 8.4 percent following a review conducted with Republic Bank.

Under the revised arrangement, the Fund said a worker earning a net monthly income of GH¢2,500 could potentially qualify for financing of up to GH¢143,000, subject to the scheme's requirements.

The facility would have a maximum repayment period of 20 years.

The programmed is intended to expand access to lower cost housing finance for qualifying Ghanaians.

REPUBLIC BANK EXPANDS HOUSING PARTNERSHIPS

The lender has also been building partnerships aimed at connecting prospective homeowners with developers and financing opportunities.

Its Republic Bank JoyNews Habitat Fair brings together property developers, financial institutions and potential buyers.

The next edition is scheduled to take place from September 25 to September 27 at Junction Mall in Nungua.

Republic Bank and Multimedia Group have also announced plans to expand the housing platform to other parts of Ghana.

RACE TO EXPAND MORTGAGE MARKET SHARE

Reaching between 40 and 42 percent of the mortgage market by the end of 2026 would require Republic Bank to add between roughly two and four percentage points to its current share.

The bank's strategy combines mortgage products, housing partnerships, digital processing and specialised financing options.

For prospective homeowners, however, access will continue to depend on factors including income, property prices, interest rates and individual eligibility requirements.

Republic Bank's expansion therefore represents a significant push by one of Ghana's major mortgage lenders, while the wider challenge of making home financing affordable to more households remains.