Republic Bank (Ghana) PLC reported strong full-year 2024 results in early 2025, with total assets growing 37% to GHS 9.6 billion, customer deposits rising to GHS 7.78 billion, and corporate and commercial loans up 34%. Under the bank's Republic Verse strategy, mortgage banking was explicitly named as a 2025 growth priority alongside other identified focus areas.
For Graymont Properties, the development reinforces a residential market environment that has supported the firm's letting and management activity through 2024 and into 2025. Mortgage market growth expands the effective tenant and buyer pool for properties in the mid-to-upper segments where Graymont Properties is most active, particularly in East Legon, Cantonments, and Roman Ridge.
Republic Bank Ghana and GHL Bank remain the dominant specialised mortgage lenders in the country. Graymont Properties has structured its tenant and prospective-buyer onboarding workflow to handle mortgage-supported applications cleanly, coordinating documentation with the lender's verification process and structuring lease commencement around mortgage drawdown timelines where the lease and the purchase are connected.
Mortgage origination growth in Ghana sits against a low base. Total mortgage book size as a share of GDP remains modest by middle-income peer standards, which leaves a long runway for sustained growth even at relatively limited absolute origination volumes. The structural conditions supporting growth, including a maturing professional middle class and a continued diaspora investor interest in Accra residential property, are not exhausted by a single year's expansion.
The principal underwriting concern in Ghana's mortgage market remains currency mismatch, where cedi-income borrowers commit to mortgage obligations indexed to harder currencies. Bank of Ghana has been encouraging the development of more cedi-denominated and inflation-linked mortgage products, and progress on that front would deepen the addressable market further over time.
Graymont Properties' portfolio composition has been deliberately positioned in the segments where mortgage market deepening most directly supports demand. East Legon, Cantonments, and Roman Ridge are the established Accra neighbourhoods where the firm's units are concentrated, and these are also the neighbourhoods where mortgage-supported transaction activity has been most visible. The alignment is structural rather than accidental.
Looking forward, the firm expects mortgage-supported activity to continue to grow as a share of residential transaction volume through 2025 and into 2026. The implications for property managers include both opportunity, in the form of a broader tenant and purchaser pool, and operational adaptation, in the form of documentation and process discipline that supports mortgage-driven transactions cleanly.