Government earmarks GH¢30 million to assist tenants to rent

The Minister of Works and Housing, Francis Asenso-Boakye, has revealed that the government has committed about GH¢30 million to solve rent problems through the National Rental Assistance Scheme (NRAS).

According to him, the scheme is to provide low-interest loans to eligible Ghanaians to enable them to pay rent advances, which will be repaid on a monthly basis to match the tenure of the rent.

He made the statement at the launch of the National Rental Assistance Scheme on January 31, 2023.

He said “Currently there is no mechanism by which the youth or eligible households can be supported to access a decent rental accommodation and to effectively protect them from exploitation. For this reason, it has become imperative to address short to medium-term market failures the rental segment is where landlords demand two or more years of rent advance and also streamline the processes for accessing rental accommodation for lower-income households towards the improvement of the quality of rental accommodation.”

“Government has made a commitment of GH¢30 million to solving this problem and the initial state will cover the Greater Accra, Ashanti, Western, Eastern, Bono East, and Northern region,” he added.

He however highlighted his ministry’s commitment to solving housing challenges in the country.

Applicants of the NRAS are required to be a Ghanaian, possess a valid Ghana Card, must be an adult of eighteen years and above, and have verifiable employment and earned income.

The applicants must also have a verifiable bank statement and their rent payable must not exceed 30% of the household income.





SSD/FNOQ