Cities and Habitats, developers of the Planned Cities Extension Project, and Ecobank Ghana Plc have partnered to launch a new home ownership package as part of the 2022 World Habitat Day Celebration.
The new home ownership scheme is called “The Rent-to Own Boafoɔ Home Ownership Package.’
Under the theme “Mind the Gap. Leave No One and Place Behind”, World Habitat Day this year looked at the problem of growing inequality and challenges in cities and human settlements.
The theme is in line with what Cities and Habitats seeks to do to help allocate resources and energies in order to help reduce Ghana’s housing deficit and also shape Ghana’s urban future as underpinned by their slogan.
The Rent-To-Own Boafoɔ Home Ownership Package is a payment method planned to ease the financial burden of home seekers by affording them early occupancy of the property within eighteen (18) months from the payment of the initial deposit.
The Project Manager of the company, Mr Daniel Ohene Aidoo introducing the product, said that it had always been the desire of the project to find sound and workable solutions to ensure that home ownership is made easy for all.
The Rent-To-Own Boafoɔ Home Ownership Package according to him sought to help home seekers to fast-track access to their homes with the help of the bank by raising the 20 per cent required under the scheme before they are given occupancy.
The other key benefit of the scheme, Mr Aidoo mentioned was that Cities and Habitats was giving 15 per cent discount on the required 20 per cent initial deposit to all home seekers who wished to be supported by Ecobank for any type of house listed under the package.
Dr Edward Botchway, Executive Director – Consumer Banking Ecobank Ghana and Regional Head of Consumer Banking for Anglophone West Africa (AWA) on his part, indicated that the Rent-To-Own Boafoɔ Home Ownership Package by Cities and Habitats was a great initiative which would make many people who hitherto couldn’t afford their own homes to do so.
He further said that it was in line with the bank’s objective to partner Cities and Habitats to address the housing challenge facing the country.
“The housing challenge in the country can only be solved when all stakeholders contribute their quota and Ecobank Ghana through this partnership will offer the requisite funding as required to clients,’ Dr Botchway.
BY KINGSLEY ASARE