The funds will be used for on-lending to Ghanaian home owners (owner-occupants).

The facility will contribute to job creation in Ghana through the positive impact that mortgage provision has on the development of the local housing (construction) sector.

Huib-Jan de Ruijter, FMO’s Director Financial Institutions, said: “By supporting GHL, we will contribute to enable provision of credit to home owners in Ghana, supporting economic development. FMO has been involved with GHL since its start up days and is pleased to see how it has grown and developed over time. As Ghana’s leading mortgage provider, GHL has played an important part in the development of Ghana’s housing market and will continue to do so. The lenders are therefore very pleased to be able to continue to support GHL.”

Ghana Home Loans is Ghana’s residential mortgage provider, mostly providing mortgages to middle class Ghanaians.

Having started in 2006, GHL has emerged as an entrepreneurial success in the Ghanaian market place.

Its total assets are currently in excess of $100m and further growth is anticipated.

GHL’s largest shareholder is Aureos (The Abraaj Group), which invested in GHL in 2012.

Dominic Adu, GHL’s CEO, said: “We have always enjoyed a solid partnership with FMO and hope it continues that way well into the future. This additional facility enhances our capacity to make a major in-road into the housing crisis -over $150m of which we have done already - and entrenches GHL’s leadership in the affordable housing space in Ghana.”

“Our recent addition of remittances, insurance and comprehensive property related services have made transacting with GHL easier, secure and a one-stop-shop solution,” he said.