Government Of Ghana Launches National Rental Assistance Scheme To Help Solve Rent Problems In Ghana

• The current Ghana administration has officially inaugurated the National Rental Assistance Scheme as a way to mitigate rent challenges in the country
• The goal of the scheme is to increase the accessibility and affordability of renting for all Ghanaians
• Adult Ghanaians who possess a valid national ID card and a source of income that can be verified are eligible under the program

Vice-President Bawumia, on behalf of the Ghana government, has officially inaugurated the National Rental Assistance Scheme to help solve the country's accommodation crisis. Although the program is anticipated to be implemented throughout the nation, it will first be tested in Greater Accra, Ashanti, Western, Eastern, and Bono East Regions.

On January 31, 2023, Dr Bawumia stated during the scheme's inauguration in Accra that the selected regions were chosen for the program's testing phase because of the heavy rent pressure in those areas.

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The program's goal is to assist any adult resident of Ghana who works for a company or for themselves in making affordable monthly rent payments as opposed to paying a rent advance. The National Rental Assistance Scheme pays the total rent to the potential landlord and then the applicant makes a monthly payment to the scheme.

Real estate agent disapproves of the National Rental Assistance Scheme

Speaking exclusively to YEN.com.gh, Raphael Odjerbio, the CEO of Rajo City Realty, stated that the rent program had inherent flaws and that he disagreed vehemently with the government's decision to roll it out. He explained:

The goverment should allow a system where all citizens whether in the formal or informal sector can benefit from. It is rather unfortunate that some citizens in the informal sector earning below Ghc500/month may not be eligible to access a rent loan from this scheme.

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According to Dr Bawumia, the scheme is in partnership with private investors who would not want their investments to go to waste and will try their possible best to recover their funds, which will also eliminate any form of political interference.

The vice president also revealed that a draft to replace the present rent legislation, which was approved more than 50 years ago and is no longer relevant, has been submitted to parliament by the government's Ministry of Works and Housing.

25-year-old Ghanaian who established a real estate company

In a previous article, YEN.com.gh described how Bill Cobbinah, 25, founded a real estate company that made it easy for Ghanaians to rent properties. The young man asserts that the urgency of the housing crisis in Ghana is what motivated him to take on the difficult work of fixing the rent issue. The young man talked about what it was like for him to start a business and his experiences with it.

Source: YEN.com.gh