Ghana’s biggest mortgage financing company, Ghana Home Loans (GHL), has been issued with a provisional banking license by the Bank of Ghana (BoG).<\/p>\n
Citi Business News<\/strong> has gathered the license was issued this year- 2016.<\/p>\n The development paves way for Ghana Home Loans to begin operations as a universal bank and also grow the company.<\/p>\n The Securities and Exchange Commission (SEC) early this year also granted Ghana Home Loans the approval to establish a Domestic Medium Term Note Programme in a bid to increase the cash flow of the mortgage company.<\/p>\n The programme will allow Ghana Home Loans access 380 million cedis from the domestic market.<\/p>\n It will also enable Ghana Home Loans issue mortgage-backed notes denominated in either dollars or cedis and subsequently list the company on the Ghana Alternative Market.<\/p>\n Ghana Home Loans, was established in 2006\u00a0<\/strong>by three Ghanaian promoters and a team of world class financial institutions.<\/p>\n The company as at 2012 had provided financing to over 1,500 households totaling $90m for the acquisition, construction and improvement of homes across Ghana.<\/p>\n Ghana Home Loans will join the growing list of banks in the country.<\/p>\n According to the Bank of Ghana’s financial stability report published in June, 2016 as at March 2016, the banking industry comprised 29 banks, of which fourteen (14) were domestically controlled.<\/p>\n This number is expected to increase to 33 in the coming months following the coming on board of a number of\u00a0 Savings and Loans companies in the banking industry including Union Savings and Loans.<\/p>\n –<\/p>\n By:\u00a0 Vivian Kai Lokko\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" Ghana’s biggest mortgage financing company, Ghana Home Loans (GHL), has been issued with a provisional banking license by the Bank of Ghana (BoG). Citi Business News has gathered the license was issued this year- 2016. The development paves way for Ghana Home Loans to begin operations as a universal bank and also grow the company. […]<\/p>\n","protected":false},"author":14,"featured_media":228583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[121,32,171],"tags":[],"class_list":["post-228575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-and-finance","category-business","category-local-economy"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/228575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=228575"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/228575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/228583"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=228575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=228575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=228575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}