Africaincorp [Flagship]

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2009
08.22

Mortgage products are being aggressively rolled out in an attempt to capitalise on pent-up demand for financial services. In Uganda and Kenya Standard Bank’s home loan services are accessible through their subsidiary, Stanbic. Barclays Kenya and Standard Chartered are also active across the region. The latter now offers mortgage products in Ghana, Uganda, Tanzania, Zimbabwe and Botswana.

“The loan books are 80-85 percent commercial, versus 10-15 percent on the retail side…the only place where banks will actually maintain a good net interest margin and make good money is with the consumer.”

Some facts: Ghana home loans increased from $2.4m in 2002 to $44.1m in June 2008

Kenya, Ghana and Nigeria are all setting up a regulatory framework for the establishment and management of credit bureaux

Source:TIA