To promote transparency and efficiency in land administration and ease bottlenecks associated with land registration in Ghana, government will carry out key reforms in the land sector, the Vice President, Dr Mahamudu Bawumia, has disclosed.


Dr Bawumia, who was speaking at the 21st National Banking Conference, organized by the Chartered Institute of Bankers in Accra on Tuesday, said the next phase of digitization would occur in the land sector in 2018.


He said the focus of government’s digitization programme would shift to land registration and the process of acquiring a land title.


The aim, he said, was to boost the mortgage market in Ghana by making it easier for citizens to use their lands or property to acquire loans in the mortgage market without litigation.


Dr. Bawumia wondered how a mortgage market could be developed without being able to ascertain a title to land and described the situation as the bane of the banking and financial services industry.


He was optimistic that by the end of 2018, all land records in Ghana would be digital.


“We believe that if we are able to do that, the process of registering titles will be much simpler. We believe that if that happens, it strengthens the banking sector indirectly because you can have better titles so you're not embedded in court processes,” he added.


He said the use of property by small or big business for a loan in the mortgage market was so critical to the development of any economy.


Mortgages, Dr Bawumia said, were, therefore, key ways of raising financing, adding that government would put in place a mechanism to enhance an on-going programme to that effect.


Source: ISD (Rex Mainoo Yeboah)