Rent Assistance: Akufo-Addo Fulfils Promise To Pay Rent For Ghanaians As He Rolls Out Rental Assistance Scheme
- The government on Tuesday, January 31, 2023, launched the National Rental Assistance Scheme, fulfilling a promise made by president Nana Akufo-Addo
- Akufo-Addo promised in 2020 that his government will assist Ghanaian youths to pay their rent if they retain him for a second term
- The scheme was launched by vice president Dr Mahamudu Bawumia and targets Ghanaian income earners in the formal and informal sectors
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President Nana Akufo-Addo's 2020 campaign promise to pay rent advance for needy Ghanaians is about to be fulfilled as his government launches the National Rental Assistance Scheme (NRAS).
The novel scheme was launched at a colourful event on Tuesday, January 31, 2023, by vice president Dr Mahamudu Bawumia.
"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 vice president explained the objective of the scheme.
Dr Bawumia explained further that the scheme will target Ghanaians in the formal and informal sectors who have a regular income.
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Ghanaians needing assistance with their rent may apply to the scheme and if selected, the rent advance they requested will be approved as loans and paid into the bank accounts of their landlords.
Currently, Ghanaians living in the Greater Accra, Ashanti, Western, Eastern, Bono East, and Northern regions can apply for the rent loan because they have been identified as places where renters face the greatest challenge with rental accommodation.
The vice president disclosed that GH¢30 million in seed funding will support the initial rollout.
Akufo-Addo fulfils a campaign promise to pay rent to needy Ghanaians
Nana Akufo-Addo in 2020 promised to pay the rent advance of Ghanaian youth in his second term as president.
A member of the NPP communication team, Nana Akomea explained at the time that it will cushion the Ghanaian youth from the problem of high rent and long rent advance.
“Government will in effect pay the rent Advance for you, and you pay the rent monthly to the scheme.
“In effect then, the NPP government in its next term will eliminate the big problem of rent advance facing the youth and indeed many other Ghanaians,” Nana Akomea said.
How to apply for a rent loan under the National Rental Assistance Scheme
According to information on the website of the National Rental Assistance Scheme, interested Ghanaians may start the process by completing an online or paper application.
Applicants will then proceed by submitting their proof of income, employment and identification. They will also present one passport picture and pay an application processing fee of 100 cedis.
National Rental Assistance Scheme will then verify the authenticity of the application submitted and all supporting documents.
In five to 10 business days, National Rental Assistance Scheme will notify the applicant about an acceptance or denial decision.
If an application is accepted, the National Rental Assistance Scheme will advise the applicant to begin an apartment or room search and the rent advance payment will be made directly to the Landlord’s bank account.
A beneficiary of the loan will then begin to make their low and affordable monthly rent payment to National Rental Assistance Scheme at the beginning of each month.
Ghana Bans Importation of second-hand electrical appliances
Meanwhile, YEN.com.gh has reported in a separate story that the Energy Commission has announced new regulations that ban the importation of 19 electrical appliances deemed substandard.
The regulations came into force on November 2, 2022, however, the Commission said it will allow for a one-year grace period to allow for market adjustment.
The policy, the Commission explained in a statement on Tuesday, January 31, 2023, is to prevent the excess energy demand that these second-hand imported electrical appliances put on Ghana.
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