THE Capital Rural Bank at Abesim in the Sunyani Municipality of the Brong Ahafo Region has decided to provide financial support to enable low-income earners in the formal and informal sectors in the region to own their houses under its “Capital Affordable Housing” product.
the Chairman of the bank’s board, Dr E. Yaw Peprah-Agyemang, who announced this at the maiden draw of the Capital Rural Bank’s “My Home Bonanza Raffle Draw’’ in Sunyani, said the innovation by the bank was the first by any rural bank in the country.
The first prize of a two-bedroom flat at Abesim for the raffle was won by a 35-year-old tailor of Sunyani Newtown, Charles Kumi, while the second and third prizes of a flat-screen television and a DVD home theatre went to Frank Okyere of Sefwi Nkawie and Margaret Yeboah of Sunyani respectively, with consolation prizes of the bank’s branded ‘T’-shirts going to the fourth to 23rd winners.
The raffle, which will be drawn every year with a house as the first prize, is aimed at rewarding loyal customers of the bank and also helping to inculcate the habit of savings in the people as well as help mobilise excess liquidity in the system.
Dr Peprah-Agyemang explained that the bank decided to come out with the affordable housing product to make up for the housing deficit in the region and the nation as a whole.
He added that one needed to save for at least six months in order to qualify for a mortgage or a housing loan to purchase the house.
He also said the raffle was being run in collaboration with a private real estate developer, and that the rest of the loan would be spread over a period of 10 years.
He said the bank was there to assist all to embark on their legitimate ventures, and had also put in place a scholarship scheme for the children of its customers to pursue tertiary education.
The Managing Director of the bank, Mr Kwaku Damoah, said every customer of the bank who saved continuously and had a minimum of GH¢100 in his/her accounts qualified to enter the draw.
He said the bank, apart from providing financial services, also counselled people on the kind of investments to make.