The Ministry of Works of Housing has clarified issues and questions raised about the feasibility of the National Rental Assistance Scheme.
The Ministry in a statement revealed that the initiative is a public-private partnership.
It said the government has contracted Rent Masters Ghana Ltd, a fully owned company to assist in executing the initiative.
The Ministry said under the initiative, the government will assist eligible Ghanaians to pay their rent in advance through affordable and convenient arrangements.
Vice President Dr. Mahamudu Bawumia on Tuesday, January 31, 2023, launched the innovative National Rental Assistance Scheme (NRAS) which was NPP’s campaign promise in 2020.
The NRAS is designed to make rental accommodation more accessible, affordable, and convenient by taking away the unfair burden faced by lower-income households and the youth across the country of multi-year rent advance payments demanded by landlords.
The Scheme will target individuals in the formal and informal sectors with identifiable and regular income. The rent advance loans will be paid directly into landlords’ bank accounts, who would also have to register with the Scheme.
The initial rollout, with a seed funding of GHs 30m, will take place in the Greater Accra, Ashanti, Western, Eastern, Bono East, and Northern Regions, where data from the Ghana Statistical Service shows renters have the greatest challenge with rental accommodation, he said at the launch.
By: Rainbowradioonline.com/Ghana
