Ecobank Ghana, Enterprise Trustees sign a partnership agreement to deliver pension backed mortgage to Ghanaian workers

Ecobank Ghana and Enterprise Trustees have signed a partnership agreement, introducing the first pension-backed mortgage loan and short-term loan facility in Ghana.

Under this association, Enterprise Trustees will make accessible to laborers, whose benefits reserves dwell at Enterprise, a bundle that empowers them to draw in an annuity-supported home loan and momentary credit offices from Ecobank.

This comes as an immense help to laborers, who are currently guaranteed of getting respectable exceptionally fabricated homes, which will be completely paid for, in front of their retirement, guaranteeing them harmony and solace at an advanced age.

Speaking at the ceremony, Mr. Joseph Ampofo, Managing Director of Enterprise Trustees, said; "This is a joint effort between two industry goliaths, Ecobank Ghana, and Enterprise Trustees, with a typical common worth of Excellence.

We will positively be directed by this, as we cooperate for the advancement of Ghanaian specialists, who would now be able to claim homes through this remarkable home loan arrangement offered under this association understanding.

Among different highlights, we ensure recipients under this plan a 100% financing course of action, when they have at least 20% of the home loan total in their Tier 3 annuity reserves. As we assume our guardian part as Trustees, customers of Enterprise Trustees benefits plans should have confidence we have their full interest on the most fundamental level, and this is another expansion to the thrilling worth we make for you in arriving at your ideal benefit" he said.

Mr. Ampofo closed by calling on the media to assist with spreading the advantages to be opened from long-haul reserve funds and ventures, as proven under Tier 2 and 3 Pension Schemes. He likewise supported both formal and casual specialists to completely buy into fortunate and individual benefits plans to empower them to understand more certain retirement results.

On his part, the Managing Director of Ecobank Ghana, Mr. Daniel Sackey said; "There is a developing interest all around the world for phenomenal client cordial monetary administrations across different client fragments, making it basic for corporate organizations to tweak their items and administrations to suit the different portions. It is hence that Ecobank keeps on looking for approaches to use innovation and key organizations to serve its business sectors.

We, accordingly, see this Ecobank-Enterprise Trustees organization arrangement marking service as coming at an ideal chance to empower our joint foundations to cause a significant commitment towards assisting Ghana with diminishing its always developing lodging deficiency" he said.

Mr. Sackey proceeded with that; "It is therefore that we consider the present to function as denoting a vital day throughout the entire existence of Ghana. Under this organization arrangement, Enterprise Trustees will make accessible to all specialists, whose annuity reserves dwell at Enterprise, a bundle that empowers them to draw in contract from Ecobank with zero initial installments.

The bank will dispense the home loan advance to the recipients, who will pay regularly scheduled payments over a fifteen-year time span.

According to Mr. Sackey, this Ecobank-Enterprise Trustees Partnership Agreement signing ceremony has come at an opportune time to enable our joint institutions to make a meaningful contribution towards helping Ghana to reduce the ever-growing housing deficit, which according to the Minister of Works and Housing, Mr. Francis Asenso-Boakye, in a Daily Graphic report of April 19, 2021, now is in excess of two million housing units.

In his report, he indicated that estimates show that 60 percent of the country’s population would need some form of government assistance to help them to get access to housing, while 35 percent would not be able to access housing even with government support in terms of subsidy.

Moreover, the recipients can draw in transient credits from Ecobank, which will likewise be repaid for more than 3 years. I, along these lines, urge Ghanaian specialists to accept the open door being offered today to obtain nice homes or access any subsidizing they need for other significant necessities. Each Ghanaian merits a reasonably respectable home and admittance to subsidizing, as and when vital" he added.

Mr. Sackey further mentioned this partnership agreement is a novelty for the Ghanaian financial services market, which should be embraced by workers. A regular mortgage will require the borrower to make available at least a 20% down payment, but this innovative partnership offers a product that requires the borrower to make no deposit whatsoever.

All the borrower needs to do is to identify the house and Ecobank will provide the funding. With this offer, there is really no excuse for Enterprise Trustees Tier 3 contributors not to own their own homes. There is also no excuse for not accessing the requisite funding for their various projects.

Authorities of the National Pensions Regulatory Authority, led by Mr. Emmanuel Abrokwah, the Manager for Standards and Compliance, gave their gifts to the organization, depicting it as novel and opportune, as it tries to help the drawn-out wants of the normal Ghanaian laborer.

He, hence, entreated workers to take immediate advantage of the package on offer.